In Colorado, agreeing to a settlement is often a concrete end to your case, no matter what comes up in the future. It’s important to understand a few things about insurance claims before you decide to accept any offer the insurance company makes.
Learn more about our Aurora personal injury services below, and reach out to us for a case review at (303) 625-6643.
Accepting a Settlement Usually Waives Your Right to Future Claims
A settlement usually requires you to sign a release of liability, which changes what you can pursue later. Read the language closely because it can cover more than you expect.
- It typically prevents future lawsuits for the same incident
- It limits additional claims tied to that crash
- This release can still apply if new injuries or complications show up later
This does not mean you automatically lose everything, but it usually means you lose the chance to claim more money later for the same event.
Early Settlement Offers Are Often Lower Than Full Case Value
Insurers may offer money quickly to reduce their risk and move the case forward, trying to close it. The offer is generally not the full extent of your damages.
- Ongoing care, rehab, or follow-up visits may not be included
- Future issues, like pain that lasts or reduced functioning, may be undervalued
- Offers can ignore costs tied to disability or prolonged recovery
If you accept too soon, you can end up paying future expenses out of your own pocket.
You Must Understand the Full Value of Your Damages
Before agreeing to a number, you have to understand what damages include, not just what the insurer lists in its first offer. Your lawyer will often look at both current and future impacts, including:
- Medical bills (current treatment and likely future treatment)
- Lost wages and reduced earning ability in the future
- Pain and suffering
- Emotional distress
- Loss of quality of life
- Any treatment related to permanent injuries or limitations
If you don’t know what your losses are, there’s no way to determine if the offer you’re getting from the insurance company is fair or not.
Liability and Comparative Fault Affect Your Settlement
Even if the other side caused the crash, the insurer may argue you share some blame. Colorado uses modified comparative fault.
- If you are less than 50% at fault, you can recover damages
- If you are 50% or more at fault, recovery is usually barred
- Your settlement can be reduced based on your percentage of fault
- The insurer may push for more fault to lower the payout
Fault arguments from the insurance company can change the payout significantly, so you always want to speak with your Aurora personal injury lawyer so you understand the full situation.
Settlement vs. Lawsuit Considerations
Many insurance claims get resolved through settlement because it can be simpler than going to court. That said, there are sometimes benefits to filing a lawsuit and potentially going to trial.
- Settlements can end the case faster and usually involve less uncertainty. They also avoid court deadlines and trial-related expenses in many situations.
- Lawsuits may lead to higher compensation when liability and damages are strong. The trade-off is a longer timeline and more costs tied to litigation.
A Colorado personal injury lawyer can help you compare the offer to what your case could realistically bring you if you filed a lawsuit.
If you are offered money and you are unsure whether to accept, do not sign right away. Ask an Aurora personal injury lawyer to review the settlement offer, your medical records, and the evidence in detail. Our team is always here to help if you have questions. Contact us today to schedule a free case evaluation at 303-625-6643.