In this post, we'll break down everything you need to know about maximizing your workers' comp settlement, avoiding low-ball offers, and securing the best possible outcome for your situation. Let's dive in.
One of the most frustrating things about workers' compensation cases is that insurance companies often try to get away with offering less than your case is worth—what's known as a "low-ball" settlement. This is a common tactic because the quicker they can get you to settle, the more money they save in the long run.
Low-ball offers usually come in early and are designed to get you to settle before you've fully understood the value of your case. The key is to recognize these tactics and not rush into an agreement just because it’s the first offer on the table.
Figuring out what your workers' compensation case is truly worth can feel overwhelming, but there are a few key factors that can help:
-Average weekly wage
-Level of disability
-Any formal medical findings
These factors all play a major role in determining the value of your case.
For example, a higher average weekly wage can increase the settlement amount, while formal findings from your doctor about the extent of your injury can provide a solid foundation for negotiations.
If you're not sure where to start, state resources—like your workers' compensation board's website—can help you understand the guidelines used to calculate permanent impairment.
In the end, though, the most important tool for figuring out what your case is worth is having the right legal guidance. A good lawyer will help you see the full value of your claim and negotiate the settlement accordingly.
So, you’ve gotten a settlement offer and it’s too low. What happens if you reject it?
The good news is, in most cases, nothing drastic. Rejecting a low offer doesn’t close the door—it simply means the negotiations continue. Your lawyer will go back to the insurance company and keep pushing for a fair amount, using the facts of your case and their legal expertise to argue for more money.
Sometimes, turning down a low offer can even encourage the insurance company to come back with a better one. They may realize you’re not willing to settle for less than you deserve, which puts pressure on them to offer something more reasonable. It’s all part of the negotiation process.
If it feels like every offer from the insurance company is low, don’t panic—it’s not the end of the road. This is a common scenario in workers' compensation cases.
When low offers keep coming in, you and your lawyer can take the case to court, where a judge can make a ruling on the value of your claim. This step can often push the insurance company to negotiate more seriously, as they’ll want to avoid the costs and risks of a court battle.
If necessary, you can let the courts decide what’s fair. Either way, you’re not stuck with low offers—there are always options to pursue a better outcome.
When it comes to negotiating your settlement, the key is communication—especially with your lawyer.
You might receive an offer that seems decent at first glance, but it's essential to consult with your lawyer before making any decisions. Insurance companies often throw out a first offer hoping you'll bite, but that doesn’t mean it’s the best you can get.
Timing is everything. You don’t want to rush into a settlement before you’ve fully recovered or reached maximum medical improvement (MMI)—the point where your doctor determines that your condition is stable and unlikely to improve further. Settling too early can mean missing out on the full value of your case, especially if more medical treatments or surgeries are needed.
On the flip side, waiting too long can also be risky. Sometimes, it makes sense to settle before undergoing a major surgery, especially if you’re not sure you want the procedure. If the money is right, settling early can allow you to avoid additional medical risks while still getting fair compensation.
The key is striking the right balance, and that’s where your lawyer comes in. They’ll guide you on when the time is right to settle and ensure that you’re in the best position to get the compensation you deserve.
If you require major surgeries, long-term treatments, or even a life-altering procedure like an amputation, these factors can raise the potential value of your settlement. The severity of your injury and the extent of your recovery will both play a role in determining how much compensation you're entitled to.
However, the flip side is that if a surgery successfully improves your condition, it might reduce the long-term value of your case since your disability could be less severe.
If you know that surgeries or ongoing treatments are in your future, it can be tempting to hold off on settling. After all, the longer your treatment goes on, the more medical expenses and lost wages may factor into your final settlement amount.
But sometimes, settling before additional treatment—especially if you're uncertain about going through with it—can make sense. In some cases, you might be able to negotiate a fair settlement now, avoid the risks of further medical procedures, and move on with your life. It's all about weighing your options carefully.
First, always make sure you have an experienced workers' comp lawyer by your side—this is crucial for navigating the complexities of your case and making sure you're not settling for less than you deserve.
Second, take your time. Don’t rush into accepting the first offer that comes your way; it's often a starting point, not the finish line.
Finally, remember that timing matters. Settling too early can leave money on the table, while waiting too long could prolong the stress of your case.
If you’re facing tough settlement decisions, feeling low-balled by the insurance company, or just not sure what your case is worth, I’m here to help.
Feel free to reach out to me, Rex Zachofsky, at 212-406-8989. Whether you have questions, need advice, or want to talk through your options, I’m always happy to have a conversation.
There’s no pressure—just a chance to see how I can help you get the best possible outcome for your situation. Let’s work together to make sure you get the compensation you deserve.
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