When you suffer a life-threatening injury on the job,your insurance company should compensate you if you are covered by the work comp program. Normally,they’ll offer you a settlement amount if they agree to your claim.
The problem is that the amount may not be what you really deserve. At such a point,you have the option of taking the matter to court so that the compensation amount can be decided by a judge. Of course,there are risks involved. For example,the judge may decide to award you a lower amount than what the insurance was initially offering. So,before you can decide to take your case to trial,you should first know how to tell you received a good work comp settlement.
What Does the Settlement Cover?
There are several factors that define a fair work comp. These factors have to be reflected in the compensation amount if they relate to your case. They include:
â¢ Medical treatment costs
â¢ Permanent partial disability costs
â¢ Permanent total disability costs
â¢ Lost earnings
If you have suffered these costs,you should be compensated. If they are not considered,then the settlement is not fair.
How is the Settlement Structured?
Before you can sign a work comp settlement agreement,ask yourself these two questions:
â¢ Will my settlement claim stay open after the compensation or will it close completely?
â¢ Does the settlement represent a new financial figure or does it include the cash advances that I’ve received?
The answers to these questions will help you determine if the offer is fair or not.
Instead of stressing yourself with hard calculations,you should go straight to a- and ask about it. Depending on the nature of your injury and the damages suffered,your attorney will help you determine if the amount on the table is worth taking or not.
With the above considerations,you can now determine if the settlement amount offered by your insurance company is fair. If it’s not,you should proceed to court. It’s the only way to get fair compensation.