If you sustained injuries in a personal injury accident, you are likely pursuing a claim to recover compensation from the negligent party.
Understandably, one of the most common questions prospective clients ask is, How much is my personal injury case worth?
Determining your case value can be complicated in some situations. That is why you need an experienced Colorado personal injury lawyer at the Tenge Law Firm, LLC, who can help.
To better understand what your case is worth, it’s essential to understand the factors that go into determining your case value.
Injury Type and Severity
One of the most important factors in determining case value is your injury type and severity. That means someone with a more severe injury in an accident will likely have a higher case value than someone with seemingly minor injuries.
For example, an accident victim with brain damage and in the hospital weeks after the accident will have a higher value than someone with a sprained ankle that heals within a month.
Cases involving victims with comparable injuries can still have very different resolutions. Imagine two victims who sustained a broken leg in similar accidents.
In one case, the victim’s broken leg healed quickly with no residual pain complaints. The other victim had complications and will require additional surgery.
The second victim’s case will likely be worth more than the first victim’s.
Liability plays a crucial role in determining your case value. Colorado is a modified comparative negligence state.
That means you can still collect a portion of your damages even if you are partially at fault for your injuries. However, if you are 50% at fault or greater, you are barred from recovery.
Your percentage of fault will reduce any potential settlement or jury award you receive. That means if a jury finds you 20% at fault, you could still collect up to 80% of your damages. However, if a jury finds you 55% at fault, you will collect nothing.
Your damages are the financial losses that you incurred as a result of the personal injury accident. They are both tangible and intangible.
Your tangible losses are called economic damages. They include things such as your medical expenses, lost wages, property damage, etc. All these items have corresponding dollar amounts that you can calculate.
Non-tangible damages are called non-economic damages. They consist of more subjective value items like your physical pain and suffering, emotional anguish, loss of consortium, and more.
When determining a demand amount for your case, your attorney will calculate your economic and non-economic damages together.
Contact a Colorado Personal Injury Lawyer
Determining your case value can be challenging in some instances. You need a skilled Colorado personal injury lawyer who has the expertise to estimate your overall damages accurately.
At the Tenge Law Firm, LLC, our legal team has decades of experience recovering compensation for injured victims just like you. If you need to pursue a personal injury claim in Colorado, let us help.
We know all the tactics and tricks that insurance companies use to reduce the value of your claim.
Suppose you received a settlement offer from the other party’s insurance company. In that case, you should always review it with an experienced attorney before agreeing to resolve your case or signing a release of all claims.
Contact the Tenge Law Firm, LLC, today to schedule an initial consultation to learn more about how we can assist you in a Colorado personal injury claim.