Only having the limited facts at hand, I would tell you that you should speak with a Personal Injury Attorney in your state, immediately and before you agree to anything with an insurance company. The only real way to know if they are giving you a good offer or not is to speak with a professional that handles these types of matters regularly. Even more importantly, you do not want to short change yourself and accept a settlement, only to find out later that you could have done much better if you had pursued another course of action (maybe litigation followed by negotation/settlement). Speak with an attorney soon. Good luck.
THE ABOVE ANSWER AND ANY SUPPLEMENTAL RESPONSES ARE NOT LEGAL ADVICE AND SHOULD NOT BE CONSTRUED AS LEGAL ADVICE. NO ATTORNEY-CLIENT PRIVILEGE OR ATTORNEY-CLIENT RELATIONSHIP IS CREATED BY THIS OR ANY OTHER RESPONSE TO YOUR QUESTION. FOR LEGAL ADVICE, PLEASE CONSULT AN ATTORNEY.
Most Colorado personal injury lawyers will provide a free initial consultation, I recommend you call a few to discuss your case. The settlement value is determined by two aspects of the case - how strong is the liability claim for the accident (was the other driver clearly at fault) and how severe are your injuries. If you have possible neurological damage, $5000 is probably insufficient. Most lawyers will handle auto accident claims on a contingency fee basis so that the attorneys fees are collected from any money received from the other side.
Keep in mind that in Colorado there is a three year statute of limitations, you must file any claim arising from a motor vehicle accident within three years of the date of the accident or lose the right to do so.
The information provided to you in this answer is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation if you have further questions.
I suggest you contact a personal injury attorney in your area before making any decision.
Mr. Lundeen is licensed to practice law in Florida and Vermont. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Mr. Lundeen strongly advises the questioner to confer with an attorney in your state in order to insure proper advice is received.
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