Damage caps are in place to limit the potential value of noneconomic damage claims in Colorado. In 2019, Colorado Governor Jared Polis signed a new bill into law to increase that cap for the first time in over 10 years, allowing victims of serious accidents to claim a larger amount of compensation for noneconomic damages.
Noneconomic damages are damages that cover costs associated with issues that don’t necessarily have a specific value. For example, you may receive noneconomic damages for the pain and suffering you went through compared to economic damages for exact medical expenses.
Updates to the economic damages cap aim to help victims of accidents
The new noneconomic damages cap was raised to $613,760 for losses or injuries and $571,870 for wrongful death actions in 2020. That amount may increase again in 2022, because the bill allows damage caps to increase every two years in perpetuity. This does exclude medical malpractice claims, which will be limited to $300,000.
Why noneconomic damages matter
Noneconomic damage caps are unjust, many believe, because these caps limit their access to the court and create a barrier to their lifelong recovery. This issue was discussed in a documentary that you can stream now, called, “Never Events,” which follows The Fairness Act, an act that will adjust California’s maximum $250,000 cap for inflation and give juries the right to determine if additional compensation should be provided in cases of catastrophic injury or death.
The states are addressing noneconomic damages where they’re present, because families often need this financial support to help them as they build new lives following catastrophic events.
You deserve support if you’ve been injured
Caps are unfair to people who have gone through serious accidents and who now have acute injuries and serious emotional and personal issues. It’s difficult to learn to live with a new disability, and you may be in mourning or suffer from panic disorders as a result. It’s still possible to seek compensation to help you. With the changes in law, it may be possible to get more than you would expect out of a noneconomic damages claim, giving you the opportunity to get compensation that will help you move forward with your life more easily.