2024 What Is the Average Car Accident Settlement in Denver?

If you were injured in an auto accident, you may be wondering what the average car accident settlement in Denver is. This is a common reaction for anyone contemplating legal action, as they often wonder whether it’s worth it. It’s important that you understand that every personal injury case is different, meaning that the outcomes and compensation awarded will vary, too.

The severity of your injury, the accident, and other damage will all impact your compensation. Below is everything you might want to know about car accident settlements in Denver.

The Average Value of a Denver Car Accident Settlement

Because there are so many factors that can impact the value of a car accident settlement, it can be challenging to determine the average value of one in Denver. Generally, you can expect a car accident that results in little to no injuries to have a relatively simple legal process and lower settlement. This is because the claim will mostly go through insurance companies and may not require a personal injury settlement.

In the case of a more severe accident that caused serious injuries, the average settlement amount can greatly increase. This is because the injured victim can file a personal injury claim requesting additional damages. When a victim suffers a personal injury in a Denver car accident, they can receive benefits such as lost wages, coverage of medical care, and more.

On average, a car accident settlement includes the value of the economic damages that an individual suffered in their Denver accident plus half of that amount. While the average settlement number in the state is around $20,000 to $40,000, you should note that many cases settle for low amounts. This means that this number may be nowhere near the amount you end up receiving. Our personal injury lawyers can take a detailed look at your case and help predict what your settlement amount may look like.

Factors That Impact Car Accident Settlements in Colorado

There are several factors that go into determining the value of a car accident settlement, in addition to the fact that the terms of a claim can be negotiated. The following details can impact your settlement in Colorado:

• Liability Assessment: Establishing the at-fault party of an accident will determine who is responsible for covering damages, whether for personal injury or property damage.
• Severity of Injuries: The extent of the sustained injuries plays a large role in determining a settlement amount. Medical records, diagnosis, prognosis, treatment plans, and the impact of the injury on an individual’s work, life, and well-being are investigated to understand the extent of the injuries.
• Medical Expenses: If an injured party has incurred medical expenses as a result of the accident, including doctor visits, hospital bills, surgeries, medications, rehabilitation, medical equipment, and therapy, they can receive compensation.
• Loss of Earning Capacity or Income: There are situations where an injured party is unable to work due to their accident or has sustained a permanent disability that directly affects their earning capacity. Settlements will take into account the life-long effects a person’s injury or disability may have on their earning capacity.
• Pain and Suffering: Non-economic damages are also taken into account when determining car accident settlement amounts. These damages can cover emotional distress, physical pain, mental anguish, loss of enjoyment of life, and more.
• Property Damage: If property was damaged during an accident that required repair or replacement, settlement negotiations will include these costs.

Settlements are determined through negotiations, which are often conducted by lawyers. The implementation of a skilled negotiation strategy can influence the outcome of a settlement decision, which is why it’s essential that you have a skilled car accident lawyer negotiating on your behalf. Each car accident is unique and presents specific needs that should be addressed in the settlement process. A personal injury attorney can help you pursue fair compensation.

FAQs About Average Car Accident Settlement in Denver, CO

What Is the Average Car Accident Settlement in Colorado?

It is challenging to determine an average car accident settlement amount in Colorado as each accident and injury case is unique. There are several averages available online, but generally, these numbers are misleading as each case has specific variables that determine a settlement amount. You can expect anywhere from a few thousand dollars to $100,000+, depending on the severity of your accident.

What Is the Average Personal Injury Settlement in Colorado?

In Colorado, the average personal injury settlement amount is typically 150% of the value of economic damages incurred by the victim. For example, if an individual suffered economic damages of $50,000, the typical settlement would be about $75,000. The actual details vary from case to case, and this value should not be assumed. Rather, consult with a personal injury attorney to understand estimates for your case.

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

In the case that a car accident claim exceeds the insurance limits in Colorado, the at-fault driver may be personally responsible for covering any damages that exceed their insurance coverage. At times, these excess damages can be negotiated between both parties, but if this is not possible, they will go to trial to determine payment responsibilities.

What Is the Value of a Serious Truck Accident Settlement?

A truck accident settlement varies widely due to a large range of factors that influence compensation. Settlement determinations take into account the severity of injuries, extent of property damages, insurance conversion, liability issues, and other applicable circumstances. Truck accidents typically result in more severe injuries and damages compared to typical car accidents, which can consequently lead to higher settlements.

Contact Our Denver Car Accident Attorneys Today

At Cheney Galluzzi & Howard, we understand that car accidents can cause severe injuries and economic losses. Our attorneys would love to work with you to help alleviate some of the stress that accompanies car accidents. We can create a strategic and thorough legal plan that fights for a just and fair outcome. Our team can not only work to prevent stress for our clients but also pursue all possible channels of compensation on your behalf.

Contact us today to set up a consultation and learn more about how we can help you. Our attorneys will take time to understand your situation and pursue legal avenues to restore your quality of life.