If you’re looking to maximize your workers' comp settlement, there’s one simple trick that could increase your payout by up to 50%—and I’m going to break it down for you.
But before we get into that, it’s important to understand how the workers’ comp process works and why the value of your claim changes over time. Knowing this can help you time things right and get the best possible settlement. Let’s dive in!
Think of your workers' comp case like a line graph—it starts off high but gradually drops over time.
At the beginning, your case is worth the most because you haven’t received any medical treatment or lost wages yet. But as you start getting benefits—covering medical bills and time off work—the value of your claim goes down, which means your potential settlement also shrinks. That’s totally normal since those benefits are already being paid out.
Early on, no one really knows exactly how much your case is worth. There are still a lot of unanswered questions:
These unknowns actually work in your favor because they give you and your lawyer more room to negotiate for a bigger settlement before everything is set in stone.
At some point, your case will hit a stage where a judge decides how much permanent disability you have in a permanency hearing. Once that happens, your case’s value becomes pretty much set in stone, which means way less room to negotiate.
That’s why timing is everything when it comes to settling your case—you want to make your move before that final number is locked in!
The best time to settle your workers' comp case is right after it’s clear you have a permanent disability but before a judge officially determines how severe it is. Here’s why that timing works in your favor:
1. You Have More Negotiation Power
Before you get a permanency rating, your lawyer can argue that your case is worth more and that the insurance company could be on the hook for a big payout. They can highlight the possibility of a high disability rating and ongoing medical costs to push for a better settlement.
2. Uncertainty Works in Your Favor
The insurance company doesn’t know exactly how much they’ll have to pay yet, so they’re often more willing to negotiate. That uncertainty can lead to a settlement up to 50% bigger than if you waited until after the judge makes their decision.
3. You Avoid the Risk of Getting Nothing
I’ve seen cases where injured workers held out too long and ended up with nothing. Settling before the permanency hearing not only increases your chances of a bigger payout but also gives you a safety net—so you’re not left empty-handed.
You might be wondering, if settling before permanency is better for you, why would the insurance company go for it? Simple—it saves them money.
Figuring out your level of permanent disability isn’t cheap for them. They have to pay for doctors, hearings, court reporters, and their legal team. On top of that, there’s always the risk that a judge could rule in your favor and cost them even more.
By settling early, they skip those expenses and avoid the uncertainty of a judge’s decision. It’s a win-win—you get a better deal, and they cut their losses.
To put this strategy to work, just ask your lawyer to start settlement talks once it’s clear you have a permanent disability but before your permanency hearing. It’s a simple move that can make a huge difference in your final payout.
Want more tips on getting the biggest workers' comp settlement possible? Check out my other video, where I share eight game-changing secrets—including one that could boost your settlement by 150%!
If you have questions about your case or would like to set up a meeting with me, Rex Zachofsky, feel free to give me a call at 212-406-8989.
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