Our law firm has obtained million dollar workers’ comp settlements in 2016, 2018 (2), and 2021.
Michigan law allows an individual to trade his or her workers’ comp benefits for a lump sum cash payment. This is an attractive option for many people because it means they are no longer under the control of the insurance company. They don’t have to worry about getting cut-off without notice or being told medical treatment is disputed. Settlement also gives them freedom to find a new job and complete medical treatment on their own terms. Money can be used for any purpose including paying off debt, starting a business, or retirement. How much will be paid for settlement is a tough question because it depends upon individual circumstances. But what is the highest workers’ comp settlement in Michigan? Here are some guidelines to consider when thinking about settlement.
What is the highest workers’ comp settlement in Michigan?
There isn’t a specified highest workers’ comp settlement amount published for Michigan. Statistics published by the Workers’ Disability Compensation Agency show the average settlement amount awarded in Michigan was just $63,313.86 in 2021. This does not seem like a lot of money for a person with permenant restrictions and lifetime medical needs. Settlement also means that an employee must give up his or her job. We always recommend having a plan before starting negotiations with the insurance company. Find out what it would cost to get retrained for a new job and what medical treatment is going to be needed in the future.
Is there a guaranteed amount of money that should be paid to the victim injured on the job?
There is no guaranteed amount that must be paid when someone decides to settle their claim. How much the insurance company will pay for settlement is going to depend upon potential exposure. This is the amount of money the insurance company anticipate paying in future workers’ comp benefits. Unfortunately, pain and suffering damages are not available and cannot be factored into settlement negotiations.
Hire an experienced lawyer to maximize offer amount
Our clients get the highest workers’ comp settlement amounts when evidence shows the need for continuing medical treatment and extended time off from work. Having an experienced lawyer negotiate the amount awarded can make all the difference when it comes to getting a fair amount. It is no secret that insurance companies take advantage of people who do not fully understand their legal rights. We have negotiated amounts that are more than double what the insurance company had previously offered as their best and final.
What is the highest workers’ comp settlement that your law firm has won?
We are proud to have generated settlements exceeding 1 million dollars over the last several years. It is not a fluke that our clients got higher than average. Time and resources were invested so the insurance company knew we meant business. This was done by developing medical and vocational evidence. It also means raising issues like attendant care and home modifications when appropriate.
Injured at work? Contact our work injury lawyers now
If you were injured while on the job in Michigan, call us now, or fill out our contact form for a free consultation. There is absolutely no cost or obligation. Our attorneys are here for you and they will fight to ensure you get the highest workers’ comp settlement offer possible for your case.
Our attorneys have been exclusively helping injured workers in Michigan for more than 35 years. Our attorneys can help you better understand Michigan workers comp laws and what happens after someone has been hurt on the job. 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.
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 35 years. Call (844) 316-8033 for a free consultation today.