Getting into a car accident can come with devastating consequences, especially if you sustain serious injuries. In these types of situations, it’s often crucial that you are able to get a Colorado car accident settlement that helps to cover the extent of your injuries and any property damage. The problem with this is that there are many different factors that can affect a settlement’s value. At The Law Offices of Edward Smith LLC, our collective years of experience handling car accident cases in Colorado have provided us with the experience needed to guide our clients through this process. So, keep reading to find out what factors influence a car accident settlement in Colorado and how you can increase your chances of getting a high settlement.
Injury Severity
Firstly, one of the most important elements that impacts the value of a car accident settlement in Colorado is the severity of your injuries. Usually, these types of injuries are broken down into either minor injuries or catastrophic injuries.
As you might expect, the more serious the injury, the higher the settlement will be. Another factor that can impact this is long-term medical conditions that will be expensive to treat long-term. The same goes for permanent disabilities, which will have a significant impact on your life.
Medical Treatment & Documentation
Getting car accident compensation in Colorado isn’t always completely dependent on your injuries alone. You have to be able to back up your injuries with medical documentation, which helps to establish their legitimacy.
That is why you should always seek medical attention after a car accident to begin a paper trail. You also need to follow up with doctors and get consistent treatment if it is recommended.
Ed Smith recommends claims that have a strong focus on solid medical documentation, as this tends to make the biggest difference during settlement negotiations.
Accident Liability
To get the best possible car accident settlement amount, liability needs to be in your favor. Generally, claims with clear liability have higher settlements, as opposed to those with disputed liability.
Colorado also follows a modified comparative negligence rule, which means that if you are found partially at fault, the percentage of fault will be applied to reduce the compensation you are entitled to.
Financial Impact
Economic damages are one of the main things considered when determining how much compensation a car accident victim should receive. Economic damages can include things like:
- Medical expenses
- Missed work
- Reduced earning capacity
- Career disruptions
- Permanent disability
Since the financial impact of the accident can have such a strong influence on compensation, you will need to provide extensive documentation of your economic damages. Your Longmont car accident lawyer can gather this information for you, ensuring your claim is thorough and leaves no room for error.
Pain & Suffering
Although not as easily calculated as economic damages, pain and suffering is recognized in Colorado. When determining settlement amounts. Pain and suffering damages include the following::
- Physical pain
- Emotional distress
- Loss of enjoyment of activities
- Impact on daily life
Insurance Coverage & Policy Limits
Insurance coverage and policy limits can play an important role in t a car accident settlement. Unfortunately, there are many drivers on the road with no insurance or minimum policy limits. Finding all available policies to recover from is an important part of what your attorney will do for you. After all liability policies are exhausted, any Uninsured/Underinsured Motorist coverage available to you will be pursued.
In cases where your damages exceed the policy’s limits, there may be umbrella policies available that can provide additional compensation to make up for this.
You will need to work with an experienced car accident attorney in Colorado who will have experience identifying all available liability, Uninsured/Underinsured Motorist, and Umbrella policies available to cover your damages.
Why Settlement Values Vary So Much
After getting in a car accident, many Colorado residents want to know exactly how much their settlement may be. However, there is no one-size-fits-all settlement option as every case is entirely unique.
Often, settlement values rely on the severity of your injuries and your economic damages. But many other factors can also impact this, including:
- If more than one party is at fault.
- If you hold a large percentage of fault.
- If you had a pre-existing medical condition.
- If your settlement exceeds insurance coverage or policy limits.
- The type of medical treatment you had and the total cost of your medical treatment.
This is why you should work with a car accident attorney instead of trying to navigate this process on your own. An attorney can protect your rights and get you the best possible settlement, ensuring you aren’t pushed around by insurance carriers.
Get Legal Representation From a Colorado Car Accident Attorney Today
Getting a personal injury settlement in Colorado isn’t just a necessity for most people who have been the victim of a car accident; it is a right. But you still need to create a strong claim that proves the extent of your damages, which is something that a Colorado personal injury attorney can help you with. At The Law Offices of Edward Smith LLC, our car accident attorneys will work with you one-on-one to build a strong claim so that you can get a favorable outcome for your car accident claim. To work with an experienced car accident lawyer in Colorado, contact us today at 303-682-2944 for a free consultation.
