How long does a PI settlement take in Colorado?

Most cases settle within 6-18 months. Simple cases: 3-6 months. Complex cases: 1-3+ years.

Do I have to accept a settlement offer?

No. You can reject any offer and continue negotiating or file a lawsuit.

Generally, compensation for physical injuries is not taxable. Punitive damages and interest are taxable. Consult a tax professional.

Maximum Medical Improvement (MMI): Before settling, you should reach MMI — the point where your condition has stabilized and your doctor can project future needs.
Demand Letter: Your attorney sends a detailed demand letter to the insurance company outlining liability, injuries, treatment, and a specific dollar demand.
Insurance Response: The insurer investigates, reviews medical records, and responds with an offer (usually far below the demand).
Negotiation: Back-and-forth negotiation, often over weeks or months, until both sides agree on an amount or reach an impasse.
Settlement Agreement: Once agreed, you sign a release (giving up your right to sue) in exchange for the settlement payment.
Payment: The check is issued to your attorney's trust account. After deducting fees, liens, and costs, you receive your net settlement.