If you have been in a car accident that was caused by someone else’s negligence—another driver, a city that failed to mark a road hazard, or a car manufacturer that made a defective vehicle, for example—you may be eligible for monetary compensation, both for your actual expenses (economic damages) and for your pain and suffering(non0-economic damages). Knowing how much compensation is both fair and achievable in your case can be a delicate calculation. A skilled personal injury attorney can help you decide how much compensation to seek. Call our office today to discuss your options.
What are Economic Damages?
Economic damages are the actual costs to you caused by your accident. They can include the cost of damage to your car or property, medical expenses, lost wages (both now and in the future), and other expenses such as transportation to and from medical appointments or necessary medical devices such as a wheelchair or crutches. These expenses are easy to prove—all you need are receipts and pay stubs.
What Are Non-Economic Damages?
Non-economic damages include the losses you have suffered that are not easily quantifiable but that you are suffering, nonetheless. Pain and suffering often result from a car accident, and it is possible to attach a dollar amount to those and to be compensated for them. The same can be said of the loss of family and other relationships, damage to mental and emotional health, and the loss of previously enjoyed activities and hobbies. While it is more difficult to determine fair compensation for non-economic damages that result from a car accident, experienced car accident lawyers such as those who work for us have formulas and standards they can apply to your case to determine what a good number might be. Asking for too much can hurt your case, and so can asking for too little. Seeking astute legal counsel to come up with just the right number is a smart idea any time you are part of a personal injury case, whether it involves a car accident or some other type of accident that has harmed you or damaged your property.
Are There Limits on Car Accident Damages in Colorado?
The state of Colorado imposes no limits on the amount of economic damages that can be awarded in personal injury cases such as those involving car accidents. There is, however, a limit on non-economic damages. Today, non-economic damages caps are $613,760 for incidents that occur on or after January 1, 2020, and $468,010 for incidents that occurred before January 1, 2020. The damage limits will change periodically to offset inflation. The Colorado Secretary of State publishes a Certificate with all of the current damage caps. One other limit on car accident claims in Colorado is a time limit. Car accident claims must be made within three years of the accident’s occurrence, barring extenuating circumstances. Speak to one of our experienced car accident attorneys today to get started on getting the compensation you deserve.