The National Highway Traffic Safety Administration (NHTSA) reports there were almost 43,000 fatal car accidents in the U.S. in 2022. In Colorado, 754 people lost their lives that year, which marks the most accident-related deaths in the state in more than four decades.
While the number of fatalities is shocking, these numbers don’t account for the hundreds of thousands of people who were injured in accidents throughout the state.
If you were involved in a car accident, one of your first questions may be, “How much compensation can I receive?” You may also wonder if the damages are capped.
Understanding the potential limits of compensation is crucial for anyone navigating the aftermath of a vehicle collision. In Colorado, the law does provide certain limitations on what can be claimed, depending on the severity of the injury and the specific circumstances surrounding the accident.
At Levine Law, our accident claim lawyer in Denver can help you understand what compensation you may receive. They can also explain the law to ensure you understand your rights.
Understanding Damage Caps in Colorado
In Colorado, there are generally two categories of damages in car accident claims: economic and non-economic damages. Economic damages cover tangible losses, such as medical expenses, lost wages, and repair costs. Non-economic damages, on the other hand, pertain to intangible losses like pain and suffering, emotional distress, and loss of companionship.
Under Colorado law (C.R.S. § 13-21-102.5), there is no cap on economic damages. This means that if you have been involved in an accident and have incurred significant medical expenses or lost wages, you may be entitled to claim the full amount of your losses.
However, non-economic damages are subject to limitations.
To recap what the damage caps are for Colorado injury cases:
- Economic damages: No cap.
- Non-economic damages: Originally, the caps were $250,000 up to $500,000 when “clear and convincing” evidence is available, with adjustments for inflation. As of January 1, 2022, the caps increased to $642,180 and $1,284,370 (respectively).
- Punitive damages: Cannot exceed what is awarded as compensatory damages.
The Role of a Denver Car Accident Attorney
Hiring a Denver car accident attorney can help you understand these limitations and maximize your claim. A knowledgeable attorney can provide invaluable guidance to help you reconstruct the incident, evaluate your damages, and ensure that you pursue the right legal avenues for recovery.
Navigating the Claims Process
The claims process can often be confusing and time-consuming. By collaborating with a Denver traffic accident lawyer, you get an advocate to negotiate with insurance companies and other parties involved.
Statistics show that those who utilize legal representation tend to receive higher settlements compared to those who do not. A car crash claims attorney in Denver will ensure you understand all possible avenues for recovery, including uninsured motorist coverage if necessary.
Filing for Uninsured Motorist Benefits
Another aspect worth discussing is the protection offered by uninsured motorist insurance. When the at-fault party lacks coverage, a Denver uninsured motorist accident lawyer can help you claim benefits under your policy. This protects you from significant financial loss, particularly in serious injuries.
Understanding Compensation in Car Accident Claims
Understanding the potential for capped damages in a car accident claim is vital for effective legal navigation. If you have sustained injuries from an auto accident, consulting a Denver personal injury lawyer for car accidents can help ensure that you maximize your claim and receive the benefits you are entitled to.
At Levine Law, we are ready to guide you through the process and ensure you’re well informed about your rights and options. Remember, the sooner you seek help, the better your chances of a successful outcome in your claim. Contact us today for a free consultation.
