If you were hurt in a car accident in Colorado, one of the first questions on your mind is likely, “What is my case worth?” While it’s natural to want an estimate, the truth is, there is no universal “average” car accident settlement.
Every case is different, and your settlement will depend on the specific facts of your accident and the damages you’ve suffered.
Understanding the factors that influence settlement value can help set realistic expectations and ensure you don’t accept less than you deserve.
Factors that Affect the Value of Your Car Accident Claim
No two car accident cases are exactly alike. The injuries and damages you suffer are different from the ones that others experience. This is why settlements vary so widely, ranging from a few thousand dollars to six or seven figures in severe injury cases.
Several factors play a role in determining the value of your claim:
- The severity of your injuries. Generally, the more serious your injuries, the higher the potential settlement value. Catastrophic injuries like brain damage, spinal cord injuries, or permanent disabilities result in larger claims than minor injuries.
- The extent of your medical expenses. The total cost of your treatment, including emergency care, surgeries, medications, and future medical needs, directly impacts your settlement amount.
- Your lost income. If you miss work or cannot return to your job due to your injuries, your lost income and diminished earning capacity will be factored into your compensation.
- The pain and suffering you’ve experienced. Physical pain, emotional distress, and reduced quality of life are major parts of a personal injury settlement.
- Whether you share fault for the accident. Colorado uses a modified comparative negligence rule. If you’re partially at fault for the crash, your settlement may be reduced based on your percentage of responsibility.
- Available insurance coverages. The amount of available insurance, both from the at-fault driver and your own policies, can limit or expand the potential settlement.
An experienced Centennial car accident attorney can help you identify your damages and understand the value of your case. Often, accident attorneys will work with experts in finance, medicine, and other disciplines to help assess your damages.
What is the Average Car Accident Settlement Amount in Colorado?
What Types of Compensation Are Available After an Accident?
Colorado law allows car accident victims to recover both economic and non-economic damages after an accident, which can include money for:
- Medical bills (past and future)
- Lost wages and loss of future earning ability
- Property damage (vehicle repairs or replacement)
- Pain and suffering
- Emotional distress or mental anguish
- Permanent disability, scarring, or disfigurement
- Loss of enjoyment of life
In total, these damages are designed to account for all of your financial and personal losses related to an accident.
Contact an Injury Lawyer for Help Recovering Compensation
Working with an experienced Centennial personal injury lawyer can help increase your odds of recovering a favorable settlement after an accident. Studies have shown that injured individuals can recover up to 3.5x more from their claim with an attorney. Importantly, an injury lawyer will protect your rights, build your case, and help you avoid mistakes that could hurt your claim.
At Legal Help in Colorado, we’ve recovered millions for injured clients and will fight for full and fair compensation for you. Contact us today for a free consultation.