What is the Average Car Accident Settlement in Denver?

If you’ve been injured in a car accident, you’re likely curious about the average car accident settlement amounts in Denver. It’s a natural concern when contemplating legal action. It’s important to realize that every personal injury case is unique, meaning the compensation can vary significantly. The severity and type of injury, facts of the accident and damages you sustained will all affect the compensation available to you and the settlement offers you may receive from an insurance company. Below is everything you might want to know about car accident settlements in Denver, Colorado.

If you sustained injuries in an accident in Colorado, contact the personal injury lawyers at Front Range Injury Attorneys today to schedule your free consultation. Our experienced legal team are knowledgeable and zealous advocates for our clients and their cases. We treat our clients as people, not case files. Learn more about how we can help you pursue compensation for your injuries and damages. Contact our Denver law firm to learn more.

Factors Influencing Car Accident Settlements

There are several factors involved when determining the value of a car accident settlement. Typically, settlement negotiations with the insurance company for your crash claim will begin with both sides evaluating the evidence available to them to decide what they think the claim is worth. Then the insurance company and your car accident attorney will negotiate to attempt to reach a settlement. Some of the most important factors include:

• Liability Assessment: Determining fault in an accident establishes responsibility for covering damages, whether personal injury or property damage.
• Severity of Injuries: The extent of injuries sustained plays a pivotal role in settlement amounts. Factors such as medical records, diagnosis, prognosis, treatment plans, and the impact of injuries on work and life are considered.
• Medical Expenses: Compensation includes medical costs such as doctor visits, hospital bills, surgeries, medications, rehabilitation, and therapy.
• Loss of Earning Capacity: Settlements account for the impact of an accident on earning capacity, especially if there’s a permanent disability.
• Pain and Suffering: Non-economic damages like emotional distress, physical pain, and mental anguish are considered.
• Property Damage: Costs for repairing or replacing damaged property are included in negotiations.

Each of these factors may be evaluated differently by the two sides in settlement negotiations based upon the evidence available, legal issues involved and the facts of the collision. An effective negotiation strategy is also an important component of reaching a fair settlement agreement on your car accident claim. That’s why it’s critical that you hire a skilled car accident lawyer to represent you and negotiate on your behalf. Every motor vehicle accident is unique and presents specific needs that must be addressed in the settlement process. A personal injury attorney can help you pursue full and fair compensation for your damages.

Average Car Accident Settlements in Denver

Determining an average settlement in Denver is challenging due to these and other factors. Simple accidents with minor injuries may have lower settlements, primarily handled by insurance companies. If you did not sustain injuries, your auto accident claim will most likely reach a settlement quickly by either repairing your vehicle damage or totaling your vehicle and sending you a check.

However, severe accidents resulting in significant injuries can lead to higher settlements, often including lost wages and medical coverage. Bodily injury claims are more complex with minor collisions with only property damage. They may require extensive medical care and incur lost income. Proving these claims generally requires more evidence and more careful analysis to make sure you receive fair compensation for all of your damages. A personal injury claim may result in an insurance settlement; however, if a fair compromise cannot be reached, you and your attorney may need to file a lawsuit to pursue damages at trial.

While the state’s average settlement falls between $20,000 to $40,000, many cases settle for less. It’s crucial to consult with personal injury lawyers to evaluate your case accurately. The average car accident settlement amount does not reflect the details of your case which may fairly value at more or less than the average range. Assuming your accident claim is worth the average range may result in undervaluing your claim or give you unrealistic expectations.

FAQs about auto accident settlements

Q: What Is the Average Car Accident Settlement in Colorado?

A: Determining an average is difficult due to the uniqueness of each case. Settlements can range from a few thousand dollars to over $100,000, depending on the severity of the accident. Most auto accident settlements in Colorado are under $50,000 due to the fact that most motor vehicle collisions do not result in catastrophic injuries.

Q: What Is the Average Personal Injury Settlement in Colorado?

A: Typically, insurance companies offer personal injury settlements are about 150% of economic damages. However, it varies, and consulting with a personal injury attorney is advised. In our experience, insurance companies offer less money to victims who are not represented by an attorney.

Q: What Happened to Insurance Companies Settling at Three Times the Medical Bills?

A: Before tort reform in the early 2000s, insurance companies generally paid more money on car accidents and other personal injury settlements closer to three times the medical bills. Tort reform made it more difficult for accident victims to pursue fair compensation so insurance companies responded by lowering their overall settlement evaluations. Whether to accept an insurance company’s settlement offer versus going to court requires a careful evaluation of your case strengths and weaknesses, litigation risks and costs and other factors specific to your case.

Q: What Happens When Car Accident Claims Exceed Insurance Limits in Colorado?

A: The at-fault driver may be personally responsible for excess damages, which can be negotiated or determined in trial. If you obtain a judgment at trial for an amount exceeding the insurance limits, you will have to pursue the at-fault driver and their assets to recover an amount above the insurance limits.

Q: What Is the Value of a Serious Truck Accident Settlement?

A: Truck accident settlements vary widely based on factors like injury severity and property damage. They often result in higher settlements due to the nature of the accidents. Just like any other motor vehicle collision, the average or typical settlement amount does not reflect the facts and circumstances of any given crash.

Contact Our Denver Car Accident Attorneys

Front Range Injury Attorneys can assist with legal matters related to car accidents. Our team is dedicated to helping clients navigate the complexities of personal injury claims and pursue fair compensation. Contact us for a consultation to discuss your case and explore legal options. Let our experienced car accident attorneys help you navigate this difficult time and advocate for your legal rights. Contact us today to schedule a free case review and learn more about how we can help you.