Michigan attorney discusses how to handle the workers’ comp first settlement offer and why negotiation is the key to getting a fair amount.
Settlement is an attractive option for many disabled employees. It allows them to do medical treatment and vocational rehabilitation without interference. Money can be used for any purpose including finding a new job, education, paying off debt, and retirement. Settlement is also income-tax free. Here are some things disabled employees need to know about the workers’ comp first settlement offer.
It’s all a negotiation
Settlement value is going to depend upon how long a disabled employee must remain off work and future medical needs. Insurance companies do not want to overpay, and they can be ruthless. We have seen insurance companies hire private investigators to follow people just because settlement was mentioned.
Settlement must be treated like any other difficult negotiation. If the workers’ comp first settlement offer is low, reject it and make sure the insurance company understands the value of your claim. This can be accomplished by securing additional medical and vocational evidence. Find out from your doctor how much medical treatment will cost in the future. Multiple your weekly rate by 52 to see how much the insurance company is paying each year in wage loss benefits. Ask for too much money and the negotiation might break down. Negotiation is like walking a tightrope, and you need help, or you might fall off.
Disabled employees should expect the workers’ comp first settlement offer to be low but should not be discouraged. We have seen first offers that are just pennies on the dollar. Be patient and let the negotiation play out. It is important to understand that nobody can be forced into a settlement, and it is a two-way street.
Get a lawyer involved fast
We recommend contacting an attorney before any settlement offer is made. This will ensure that you are not locked into a bad negotiating position. For example, a woman recently contacted our office after giving her own settlement demand. The insurance company knew how much she wanted and refused to pay more even though her case had greater value. Let a professional formulate a settlement demand and take out the guess work.
It is no secret that attorneys get more money, so it is important to get a workers’ comp lawyer involved as early as the first settlement offer. Insurance companies know that people who are represented understand their legal rights and have the means to enforce them. Watch out for adjusters who attempt to bully you into settling without legal counsel. You cannot be cut-off just because you spoke with an attorney.
Attorney fees are capped at 15% of the settlement if benefits are paid voluntarily. Attorney fees are 20% of the first $100,000 and 15% on the remainder for disputed cases. These amounts are easily made up by getting a larger settlement amount. Please call for a free telephone consultation today.
Injured on the job and have questions about your first workers’ comp settlement offer? Call our attorneys now for a free consultation?
If you are injured on the job in Michigan and you have questions about your first workers’ comp settlement offer, call now (855) 221-2667 or fill out our contact form for a free consultation. There is absolutely no cost or obligation. We’re here for you.
For more than 40 years, our lawyers have been helping people like you who have suffered from work-related injuries in Michigan. We understand the physical, emotional, and psychological hardships you are experiencing from your accident. We also have the skill, experience, and know-how to protect you and get you the best possible payout amount for your case.
To see what our own clients have to say about the caring, compassion, and communication they received from us, you can read in their own words about their experience here on our testimonials page from clients we have helped.
Remember, every work injury claim is different and must be negotiated on its own merits. Do not accept any payout amount without fully understanding your legal rights.
Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled workers exclusively for more than 40 years. Call (855) 221-2667 for a free consultation today.
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