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By far, the number one question injured workers have is, “what is my case worth?” Along with that comes a second question. When will the workers’ compensation insurance company offer a settlement?
The answer to that question is, it depends. But more importantly is when should you want a settlement offer and when is one a bad thing?
Does The Insurance Company Have To Make A Settlement Offer?
While paying for medical bills and lost time is mandatory under workers’ compensation laws, the insurance company does not have to make a settlement offer. In fact, many have a policy of not doing so and others will only do it if it is in their best interests. That usually means because they want to close out your medical rights.
How Do You Get Them To Make A Settlement Offer?
The only guaranteed way to force a settlement offer is to file a case formally with a lawyer. That puts pressure on them to do so because if they do not, we can go to Arbitration and get one for you that way.
Beyond that, you can always ask, but that comes with risks. Some common things we see happen:
- They tell you they will look into it, but they really are going to just string you along until the statute of limitations to file a case runs out.
- They make an offer, but it is a low ball one. This is the most common scenario. If a case is worth $50,000, you can expect an offer of around $30,000. They will take out the attorney fee and then cut it even more. In other words, you are essentially paying a lawyer without getting the benefit of a lawyer. Once an offer is made, getting an attorney to take on your case is really hard. That is because we can only get paid based on how much the offer is increased. So you end up losing out on money in the end.
- They will make you a fair offer. How is that a risk? If they are doing it, it usually means that they are screwing you out of money in some other way. Typically that involves payment for future medical treatment. In other words, if your case is worth $75,000, but you need $50,000 more in medical care, getting $75,000 right now is a bad idea.
What If I Call And The Insurance Company Does Not Respond?
If you reach out to the work comp adjuster and they will not get back to you about an offer, that is a sign that settling is not in their best interests or something they want to do. That of course is a sign to you that it would be in your best interests. You can always follow up, but again, hiring an attorney is the only way to force them to respond.
What Is Your Best Settlement Advice?
While I get why everyone wants to know what their case is worth, I highly encourage you to focus on your health above all. Once you settle your case, you typically close out your rights to any future medical care or lost time payments. So if you wake up a year from now in pain and haven’t had a new work accident, you’d be stuck paying those medical bills yourself.
We usually suggest that you return to work and do that job for around three months or so before you consider a settlement. You want to be sure that you can work without problem. If you can’t then settling is a bad idea.
Finally, do not listen to AI or friends about what your case is worth. Your case is unique and those case facts determine the value. That is based on your wages, your injuries, your recovery, future medical needs, insurance company defenses, your age and more.
And if you want to have a FREE, no commitment, consultation with an attorney please reach out any time at 888-705-1766.
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