Colorado Settlement Agreement Auto Accident
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How to fill out Settlement Agreement Auto Accident?
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FAQ
No, Colorado is not a no-fault state. In Colorado, you may sue the responsible party any time that you get hurt or have property damage in a car accident. You don't have to have serious or permanent injuries to bring a lawsuit against the responsible party after a car accident in Colorado.
Under Colorado's comparative fault car accident law, a victim may recover damages for an accident if they're less than 50% responsible for the accident. If a victim shares responsibility for an accident but is less than 50% at fault, they collect a reduced share of their damages.
Just like in most other states, insurance follows the insured vehicle and not the driver. If you borrow someone else's car and cause an accident, the other driver has the right to start a claim against the car owner's insurance policy.
Colorado uses a system of comparative fault. The law recognizes that more than one person can do something that causes an accident. When an injured person has shared fault for a car accident, they may still bring a claim for compensation.
All drivers have a duty to report a car accident. In Colorado, all car accidents that result in personal injury or property damage must be reported to the police. The law that requires making a report is Colorado law 42-4-1606. It doesn't matter if the injuries or property damage is only minor.
Colorado Has a Three-Year Statute of Limitations for Car Accident Claims. As a baseline, the state of Colorado has a three year statute of limitation for auto accident cases. This means that a victim must bring their claim within three years. Otherwise, they will not be able to bring a legal claim at all.
Most car accident victims in Colorado manage to secure about 1.5 times the amount of economic damages they sustained. The excess in repayment is typically accounted for by their pain and suffering. An experienced attorney can estimate how much you could potentially secure from a successful personal injury claim.
Being an "at-fault" / "tort" state helps keep Colorado's insurance costs relatively low, compared to no-fault states. Colorado requires all drivers to carry liability insurance, a type of insurance that pays for others' expenses after you cause an accident, such as damage to others' vehicles and their medical expenses.
