When you’re hurt in a personal injury accident, you need to know what to expect. You may want to know whether it’s worth it to file a legal claim. One of the things that you might wonder about is the average personal injury settlement amount.
Every case is unique. The only way to know the approximate value of your case is to have an evaluation from an injury attorney. But you may still want to know the amount of the average personal injury settlement. Knowing the average personal injury settlement can give you realistic expectations and help you make smart decisions in the aftermath of an injury accident. Here’s what you should know about the average personal injury settlement from our Colorado personal injury lawyers.
What’s the Average Personal Injury Settlement?
The average personal injury settlement is $3,000 to $75,000. What’s average depends on the circumstances of the case. In cases with minor injuries and financial losses, an average settlement is around $3,000. For cases with significant injuries, $75,000 is an average amount for a settlement. While some cases settle for millions of dollars, the average personal injury settlement amount is between a few thousand dollars and $75,000.
Personal Injury Claim Settlement Amounts
Personal injury claim settlement amounts vary based on several factors. Here are some of the factors that weigh into your injury claim settlement amount:
- The laws that apply in the state
- The severity of the injuries
- Costs of medical treatment
- Permanent injuries, including scars
- How well you follow your medical treatment recommendations
- Complicated facts; the merits of the claim
- Legal issues such as interpretation of laws
- Legal representation
- Defendant’s ability to pay
How Much to Ask for in a Personal Injury Settlement Amount
How much to ask for in a personal injury settlement amount is an amount that accounts for your financial losses, the extent of your physical and emotional suffering, and your property damage.
In reaching a settlement, you may agree to a lower amount than you might receive at trial. A settlement can account for the cost of going to trial as well as the uncertainties that may exist in the amount of your recovery if you take the case to trial. An experienced attorney can help you determine how much to ask for in your injury settlement.
Average Personal Injury Settlement in Colorado
In Colorado, personal injury claims encompass several categories of claims. Slip and falls, products liability, and car accident claims are just some of the types of cases that are included in the category of personal injury settlements. When you’re looking at the average personal injury settlement in Colorado, it’s important to keep in mind a couple of things.
First, the average settlement for one category of claims may be different than the average settlement for another category. Injuries for one type of personal injury may be more severe than for another type of personal injury. For example, the injuries in a slip and fall accident may be quite severe. A person injured in a slip and fall accident typically has broken bones, brain trauma, and serious tissue damage. On the other hand, a person may bring a car accident claim for only slight injuries. It’s important not to make assumptions about the settlement value of your case based on an entirely different category of cases. All types of cases may be averaged together when it comes to a typical personal injury settlement.
Second, keep in mind that Colorado is an at-fault state for car accidents. In some states, you can only bring a car accident claim if you have very serious injuries. However, Colorado law allows all car accident victims to receive financial compensation. The result is that it might look like the average personal injury settlement in Colorado is lower than it is in other states. However, the truth is that Colorado car accident victims have more rights to bring a lawsuit than they have in other states. But because they can bring a claim for less-serious injuries, the average settlement amount might appear lower. Colorado law strongly protects the rights of all accident victims to demand financial compensation.
What Personal Injury Settlement Amount Can I Expect in My Case?
Ultimately, the only way to know what personal injury settlement you will receive is to speak with an experienced injury attorney. Some factors may make your case worth more than average. In addition, it’s important not to assume that you don’t have a valid claim. While you might hear about cases that settle for millions of dollars, most cases don’t. But the settlement amounts are still a welcome relief and deserved justice for injured victims. And, there might be factors that can significantly increase the value of your injury settlement amount.
The best option is always to speak with an experienced personal injury attorney about the specifics of your case. They can help you understand the approximate value of your claim and the reasons that your case is worth a certain amount. They can also help you understand what steps you need to take to receive just compensation and what things you can do to increase the compensation that you deserve.
Contact Our Colorado Attorneys for Personal Injury Settlements
Are you wondering about average personal injury settlements? Do you want to know the approximate value of your case? At Bachus & Schanker, LLC, we’re Colorado’s injury attorneys. We accept personal injury cases of all values. We want to help you receive the personal injury settlement that you deserve. Justice is our passion. Call us today for your friendly, free, and confidential consultation.