When you are filing a personal injury claim in Colorado, it is important to understand the factors that affect the value of your case. The value of a personal injury claim takes into consideration several critical factors like medical bills, lost earning capacity, pain and suffering, and other aspects of the case. Here’s what affects the value of your Colorado personal injury case.
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Types of Injuries
The types of injuries sustained during the accident are critical in determining the value of your personal injury claim. Serious injuries usually result in a higher settlement offer. So, if you have suffered a major injury that requires continued treatment, surgery, or physical therapy, you can expect your compensation to be higher.
Some personal injuries have long-lasting impacts on your life. For instance, spinal cord injuries, traumatic brain injuries, or amputations are severe injuries that might require long-term care or medical attention. These types of injuries have the potential to add up to significant medical expenses, resulting in higher compensation.
Medical Expenses
Medical expenses can add up quickly and become quite costly in a personal injury case. The cost of medical treatment, hospitalization, ambulance transportation, therapy, medication, and surgeries can add up pretty quickly. It is necessary to thoroughly document all medical expenses properly. You should keep track of any bills and records from your treating healthcare provider, as well as receipts from prescriptions, travel costs related to medical appointments, and any expenses related to home care.
It is imperative to ensure that you receive medical attention for all your injuries promptly, even if they seem insignificant at first glance. The cost of treatment and medical care will also assist in calculating the overall compensation amount for your injuries.
Lost Wages
Injuries incurred from personal injury accidents may also affect your earning potential, which may lead to lost wages. Lost wages include wages or income that you would have earned while pursuing recovery during the physical healing process.
To calculate your lost wages, you need to provide documentation that verifies your income. Documentation such as time sheets, pay stubs, and your employment contract can provide a detailed outline of your compensation from actual missed work due to injuries. Additionally, any lost future earning capacity in the form of bonuses, raises, or promotions, which may have been affected by your injuries, is accounted for in the final settlement amount.
Pain and Suffering
Pain and suffering are also crucial factors in determining the value of your claim. Pain and suffering compensate you for the emotional and mental anguish, and discomfort incurred as a result of the injury.
Pain and suffering are subjective and have no specific dollar amount assigned to it. However, factors that may be considered include the duration and extent of physical pain, mental anguish, and suffering, as well as any ongoing emotional, physical, or psychological distress that you have been enduring.
Comparative Fault
Colorado follows a "modified comparative fault" rule. This rule acknowledges that both parties might be at fault in causing the accident that led to the personal injury. The compensation amount may be reduced or adjusted based on the percentage or the level of fault assigned to you. For instance, if you are found to be 30% responsible for the accident, then your compensation will be reduced by 30%.
Conclusion
The value of your personal injury case depends on various factors, including the extent and severity of your injuries, medical expenses, lost wages, pain and suffering, and comparative fault. It is always necessary to have a reliable personal injury attorney who can help you to navigate the complex legal process by negotiating with insurance companies and ensuring that you receive a fair settlement. Be sure to contact an experienced personal injury attorney to provide you with the legal guidance and support that you need for your case.