What is a workers’ compensation settlement? A workers’ compensation settlement is an agreement between the worker and employer that requires the worker to accept a certain amount of money as payment for their injury.
In some cases, they may settle the case out of court if it can’t go any further. It’s essential to know your rights and protect them to get the best outcome possible. The majority of worker’s compensation cases end in a settlement, but not all.
Why You Need a Lawyer
Suppose a settlement has been reached with your employer or their insurance company. In that case, it’s best to work with a lawyer like the Phoenix Workers’ Compensation Attorneys to ensure you receive all benefits owed to you. Your lawyer can help with the negotiations and ensure any portion of your compensation is paid out on time, so it’s vital to have them on your side when filing for workers’ compensation settlements.
It’s best not to accept the first settlement they offer because you may be leaving money on the table, so it’s crucial for you or an attorney working with your case to research before entering into negotiations.
Settlements vs. Trials
During a workers’ compensation settlement, the claimant agrees to accept an amount of money in exchange for giving up their right to sue. If you are considering taking your case to trial instead of allowing it to go through settlements, here are some things that should take into consideration:
- You may receive more compensation if a judge or jury decides the verdict.
- Juries are more likely to award higher amounts of money than judges, so you may receive a larger settlement if your case goes to trial.
- The process will take longer and be more expensive for both parties involved in the lawsuit if they go through trials instead of settlements.
What’s important when deciding whether or not to settle your case is the value of it. Sometimes, suppose you face a significant injury or illness that has left you unable to work for an extended amount of time. In that case, it may be worth waiting until after trial to receive more money than what you would have received during settlement negotiations. A case can also settle with no agreement between the parties if one party does not want to proceed.
Possible Settlement Amounts
The amount of money that you may receive during a settlement varies depending on the case. It can’t determine what you will receive for your case because every claim and set of circumstances are different. Still, it’s good to research before entering negotiations to determine what other claimants have received as compensation for their injuries.
The most common ones are those that limit a worker’s ability to perform their job. It may include:
- Back injuries
- Head trauma
- Amputation
Your injury type and severity will determine how much money you receive as part of the agreement. For example, a settlement for an amputation may be much higher than one awarded to someone who has suffered from a minor cut.
In summary, it’s best to consult an attorney when filing for workers’ compensation settlements because they will be able to provide you with the best advice and information to help you make a decision. It’s vital for anyone involved in this process to work with someone specializing in workers’ rights to get an agreement that benefits them financially and physically.
