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Can a Personal Injury Attorney in Colorado Recover Higher Compensation?

Posted on February 21, 2022 in

If you or a loved one gets injured in an accident, you will rely upon the money you receive from an insurance settlement or jury verdict to pay for related bills. Without a fair financial recovery, it can be difficult to afford the medical treatments that you need – especially if your injury prevents you from returning to work and earning money. In many scenarios, it is worth it to hire a personal injury attorney in Lakewood, CO to help you recover maximum financial compensation. An attorney will have the ability to negotiate for the highest possible case outcome on your behalf.

Does Hiring an Accident Lawyer Result in Greater Financial Compensation?

Statistically, injured accident victims who hire personal injury lawyers make more financial compensation than those who are unrepresented. Studies estimate that, on average, claimants with lawyers receive 3.5 times more in settlement compensation than their self-represented counterparts. The odds of reaching a settlement are also higher when represented by an attorney. Hiring an accident lawyer comes with many advantages that can increase the value of a personal injury settlement in Colorado, including:

  • Ability to identify all negligent parties. Naming multiple parties as defendants increases the insurance coverage available.
  • Knowledge of insurance company tactics. An attorney can combat tactics used by insurers to devalue your claim, such as alleging that you had a pre-existing injury.
  • Aggressive negotiation strategies. Rather than accepting the first settlement offer, a lawyer can submit counteroffers for you to fight for a higher amount.
  • Trial capabilities. A lawyer’s ability to go to trial often motivates insurers to offer greater amounts to settle, rather than paying the costs of going to court.
  • Accurate pain and suffering calculations. Pain and suffering can make up a significant portion of a compensatory award. A lawyer can demonstrate the long-term consequences of your injuries to achieve fair pain and suffering damages.

It is especially important to hire a personal injury lawyer if you have a high-value case, such as one involving catastrophic injuries or the wrongful death of a loved one. In these scenarios, your future could be hanging in the balance. Do not run the risk of representing yourself and settling for an inadequate amount. Hire an attorney to enhance your odds of achieving a higher settlement or judgment award.

What Can I Do if I’ve Received a Low Insurance Settlement Offer?        

As an injured accident victim, there are steps that you can take to protect yourself legally and financially during the insurance claims process. You should not agree to give an insurance claims adjuster a recorded statement during conversations about your accident, for example, or sign anything sent to you from the insurer. You also should not admit fault for the accident or accept the first settlement offered. The first offer is often lower than what the claimant deserves, as an attempt by the insurer to avoid paying fair compensation.

If you receive a low insurance settlement offer, contact a personal injury lawyer before responding. A lawyer can review the offer to confirm that it is lower than you deserve. Then, your lawyer can help you craft a concise and effective counteroffer to send to the insurance company. Your lawyer will negotiate back and forth with the insurance company for as long as it takes to receive a fair and full settlement offer. This process may require steps such as submitting further evidence, attending independent medical examinations and mediation.

If negotiations with an insurance company do not result in a fair settlement, a lawyer will have the power to take your case to trial. A personal injury trial in Colorado may result in a judgment award granted by a jury that is worth more than an insurance settlement. An attorney can carefully review your case and circumstances, then choose the best route to maximize your financial recovery.