The appropriate time to settle a case depends on several factors. Many Colorado cases settle when an injured person is “medically stationary,” meaning that the injuries have either fully resolved, or remain but are no longer improving. In some Colorado cases, it is necessary to file the case in court to preserve the statute of limitations, or to obtain an agreement to toll the Colorado statute of limitations, because it will take too long before the injured person is medically stationary.
Insurance companies generally will not settle a case unless the settlement is final. That means that once a case is settled, injured persons generally are not able to recover any more money from anyone, even if injuries that were previously unknown are discovered, or if medical care that was not anticipated becomes necessary. In some cases, a client chooses to settle a case despite ongoing symptoms. In this situation, there is a greater risk that symptoms will worsen. In other cases, a client may believe he or she has reached a full recovery, but symptoms recur. Because of these risks, it is important for an injured person considering settlement to understand that in most cases when a settlement is reached, there is no way to recover any more money even if new injuries or medical bills arise.