What’s Your Colorado Car Accident Claim Worth? Insights from Average and Landmark Settlements

When you’re involved in a car accident in Colorado, understanding the potential value of your case can be crucial. It’s not just about covering your immediate medical bills; it’s about ensuring you’re compensated fairly for all the ways the accident has impacted your life. Here’s what you need to know about average car accident settlements in the Centennial State.

Colorado Car Accident Laws | What You Need to Know

Colorado operates under an at-fault insurance system, which means the driver responsible for causing the accident is also on the hook for the resulting damages. This system is outlined in Colorado’s Revised Statutes, specifically in Title 42 – Vehicles and Traffic.

But here’s the kicker: you have a limited window to file your claim. For property damage, you only have three years from the accident date. For personal injury claims, you only have two years. While this may seem like plenty of time, the legal system tends to move at a slow pace, so the quicker you contact a car accident attorney, the better.

Colorado law also mandates that all drivers carry minimum liability coverage. These mandatory minimums are:

• $25,000 for bodily injury or death to any one person
• $50,000 for bodily injury or death to all persons in any one accident
• $15,000 for property damage in any one accident

These numbers might seem substantial, but in serious accidents, they can be eaten up quickly.

Average Car Accident Settlement Amounts in Colorado

When it comes to car accident settlements in Colorado, there’s no true “average” amount that applies across the board. Every case is different, with its own circumstances and factors that influence the final settlement.

Larger settlements typically happen in cases involving severe injuries, wrongful death, or exceptional circumstances. These high-value cases often make headlines, but they’re not representative of most car accident settlements.

Not to mention, most settlements are confidential. This means the details, including the settlement amounts, are not made public. As a result, it’s pretty difficult to get a comprehensive picture of settlement trends across all cases.

What we can say is that in all cases settlement amounts generally reflect:

• The severity of injuries
• The impact on the victim’s life and
• The strength of the evidence

Things like medical expenses, lost wages, pain and suffering, and long-term care needs all play important roles in how our Castle Rock car accident lawyers calculate potential compensation.

For instance, a case involving minor injuries and minimal property damage might settle for a few thousand dollars. On the other hand, a case with catastrophic injuries or fatalities could potentially result in a multi-million dollar settlement or verdict.

Types of Compensation Available in Colorado Car Accident Cases

In Colorado, you can potentially recover three types of damages:

1. Economic damages: These are the tangible costs – medical bills, lost wages, property damage. They’re typically easier to calculate and prove.
2. Non-economic damages: This is where things get tricky. Pain and suffering, emotional distress, loss of enjoyment of life – these are harder to quantify but often make up a significant portion of large settlements.
3. Punitive damages: These are rare in car accident cases but can be awarded if the at-fault driver’s conduct was particularly egregious.

Colorado’s Damage Caps

Here’s where Colorado law throws a curveball. The state caps how much you can recover for non-economic damages in personal injury cases. As of January 1, 2025, this cap will increase significantly from $250,000 to $1.5 million, with biennial inflation adjustments starting in 2028. For wrongful death cases, a new cap of $2.125 million will be imposed. These changes could lead to higher settlements in severe injury cases, but it’s important to remember that these are maximum limits, not guaranteed payouts.

Fault also plays a major role in Colorado car accident cases. Colorado follows a modified comparative negligence rule. This means that if you’re found to be 50% or more at fault for the accident, you can’t recover any damages.

If you’re less than 50% at fault, your compensation will be reduced by your percentage of fault. This is why it’s so important to work with an attorney on your case. Our accident lawyers can help you establish clear liability in your case so that you can recover the compensation you deserve.

Record-Breaking Car Accident Settlements in Colorado

While most car accident cases don’t make headlines, some recent Colorado settlements and verdicts have been noteworthy for their substantial amounts. These cases, though not typical, illustrate what’s possible in severe accidents with significant injuries or clear liability.

$45 Million Verdict (2024)

In a landmark case, a federal jury in Colorado Springs awarded $45 million to Lorelle Thompson on April 17, 2024. This verdict, the largest in Colorado Springs history, stemmed from a 2016 incident involving a 1998 Ford Expedition. Thompson exited her vehicle to check her mail, believing it was in park.

Due to an alleged defect in the shifting system, the SUV rolled over her lower left leg, causing major muscle and nerve damage. The jury found Ford Motor Company liable for a known defect that hadn’t been addressed.

$847,000 Verdict (2023)

An El Paso County jury awarded $847,000 to a single mother injured in a 2020 highway crash. This verdict was seven times higher than the initial settlement offer from the at-fault party’s insurance company.

The plaintiff’s legal team successfully demonstrated the accident’s impact on her physical and neuropsychological state and earning capacity. This case underscores the importance of thorough evidence presentation and the potential for juries to award significantly more than initial offers.

$557,000 Settlement (2023)

Erik Szakmary, 51, received a $557,000 settlement from the City of Denver after a distracted police officer struck him in a crosswalk on Colfax Avenue in 2019. Szakmary suffered spine injuries requiring multiple surgeries. This case highlights the potential liability of government entities in traffic accidents and the substantial settlements possible when permanent injuries are involved.

$145,000 Settlement (2023)

The City of Denver settled with Tanya Martinez Perez for $145,000 after she sustained a concussion and injuries to her left shoulder, arm, and wrist in an accident involving a police officer. The officer, Thomas Moen, attempted an illegal right turn, causing the collision. This case demonstrates that even “minor” accidents can result in significant settlements when they involve clear liability and documented injuries.

These cases illustrate the wide range of potential outcomes in Colorado car accident lawsuits. Factors influencing these large settlements include:

• Severity and permanence of injuries
• Clear liability or negligence
• Impact on quality of life and earning capacity
• Thorough documentation and presentation of evidence
• Skilled legal representation

Keep in mind that these large settlements are not typical and often involve extraordinary circumstances. However, they demonstrate the potential for significant compensation in cases of severe injury or clear negligence.

If you’ve been involved in a serious car accident in Colorado, we highly recommend getting a thorough case evaluation by an experienced car accident lawyer.

At Kennedy Injury Law Firm, we can assess your case’s full value (at no cost to you) and fight for the compensation you deserve. Don’t settle for less than you’re entitled to – reach out to us for a comprehensive review of your case and to explore your legal options.

How to Get More Money in Your Colorado Car Accident Settlement

So, how do you ensure you’re getting the best possible settlement?

Here are a few key strategies:

1. Document everything: Medical records, photos of the accident scene, witness statements – the more evidence you have, the stronger your case.
2. Don’t rush to settle: Insurance companies often offer quick, lowball settlements. Don’t accept the first offer without consulting an attorney.
3. Consider the long-term impact: Some injuries may not fully manifest immediately. Make sure your settlement accounts for potential future medical needs.
4. Be prepared for trial: While most cases settle out of court, being prepared to go to trial can often lead to better settlement offers.
5. Contact a car accident lawyer: An attorney can help with building your case, establishing liability, identifying sources of compensation, negotiating with insurance companies, and ensuring you receive the compensation you’re owed.

Get Help with Your Colorado Car Accident Claim

At Kennedy Injury Law Firm, we have years of experience handling car accident cases in Colorado. We understand the nuances of state law, we know how to negotiate with insurance companies, and we’re not afraid to take your case to trial if that’s what it takes to get you fair compensation.

Don’t leave your future to chance. If you’ve been in a car accident in Colorado, reach out to us for a free consultation. Let’s discuss your case and explore how we can help you get the compensation you deserve.