A workers’ compensation settlement is a lump sum payment that your employer’s workers’ comp insurance provider will give you to cover the medical expenses and additional losses you’ve suffered due to your work injury.
Learning more about how workers’ comp settlements work can help you understand your case. We aim to provide the information and advocacy you need to make a full recovery after a workplace accident. Our Davie work accident lawyers have over 30 years of combined experience, so you can count on us to help you get back on your feet.
Factors That Determine the Value of Your Workers’ Compensation Settlement
Learning about the factors that determine the overall value of your settlement can give you insight into how a workers’ compensation settlement works. The amount of compensation you receive from a settlement depends on the following:
- The severity of your injuries
- Whether you’ve suffered any permanent physical impairments
- Your medical bills
- Whether you’re able to continue working
- Your earning capacity before and after your injury
- Your estimated future medical expenses
When you work with an attorney, they’ll assess the above-listed factors and determine how much your settlement should be. Depending on your unique situation, you could receive compensation for medical bills, income losses, and disabilities.
More people choose The Schiller Kessler Group because they know that we’re a cut above other personal injury law firms.
How Negotiating a Workers’ Compensation Settlement Works
Familiarizing yourself with the negotiation process can also help you understand how a workers’ compensation settlement works. During negotiations, your attorney will communicate with your employer’s workers’ comp insurance provider. These negotiations involve a great deal of strategy and back-and-forth communication between parties.
To ensure your case is successful, you’ll want to hire a lawyer who has a great deal of experience working with insurers to reach fair agreements. A seasoned lawyer can determine how much you should receive for your injuries and losses and demand that the insurer provide the compensation you need to address your situation properly.
An attorney can also help you answer the questions insurance adjusters ask after an accident. Your lawyer will make sure you don’t accidentally say something that the insurer can use to pay you less than what your claim is actually worth.
Even the most skilled lawyer might have trouble negotiating with an insurer who uses bad-faith tactics and refuses to come to a reasonable agreement. In a situation like that, your attorney may have to take your case to mediation. During mediation, a neutral third party will help you and the insurer reach a settlement that both of you agree with.
Can I Change My Mind After I’ve Agreed to a Settlement?
Once you’ve agreed to a settlement, you can’t change your mind and reopen your claim. Even if your physical condition worsens, you’ll be barred from pursuing more compensation. That’s why it’s important to understand what you’re agreeing to when you accept a settlement offer.
A knowledgeable lawyer can determine if a settlement offer is large enough to cover your current and future expenses and losses. They’ll explain the terms of the settlement offer to you and make sure you’re comfortable with the agreement before it’s finalized.
With a legal representative by your side, you’ll be able to obtain a settlement that meets your needs and doesn’t cause you to regret accepting the offer.
How Long Do I Have To Pursue a Workers’ Compensation Settlement in Florida?
When learning about how workers’ compensation settlements work, it’s important to research how long you have to seek benefits after a work injury in Florida. According to the law, you must file a claim no later than two years after the day you were hurt.
If you fail to abide by this rule, you could be barred from seeking the benefits you need to afford adequate medical care and support yourself during your recovery. Don’t put your recovery in jeopardy by waiting too long to hire a lawyer. Instead, reach out to a dedicated team of attorneys today and get an early start on your case.
Schedule a Free Consultation With a Work Accident Lawyer in Florida
Moving forward with a workers’ compensation claim can be difficult, especially if your injuries make it difficult for you to work and complete basic tasks. Luckily, the attorneys at The Schiller Kessler Group can take on your case and pursue the compensation you need to pay your medical bills, make up for lost wages, and improve your circumstances.
Contact us today to schedule a free consultation and learn more about how workers’ compensation settlements work. We’ll answer any questions you have and provide the information you need to make smart legal decisions. We look forward to hearing from you soon and fighting for the financial recovery you need to get your life back on track.
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