We know that the workers’ compensation process can be long and drawn out, and if you’re like most of our clients, you’re eager to put an end to your case so that you can get the financial compensation you deserve. However, if you try to rush to the finish line, you can end up leaving thousands of dollars or more on the table. It can be tempting to sign that agreement that comes into your inbox, but there are a couple steps you’ll want to take before you agree to any settlement. In today’s blog, we share three things you’ll want to do before you agree to an injury settlement.
Three Steps To Take Before Agreeing To An Injury Settlement
If you receive an offer over the phone or a written settlement offer in your inbox or your mailbox, here are three things you need to do before signing on that dotted line.
1. Forward It To Your Attorney – One of the first things you’ll want to do is to send a copy of the offer to your lawyer. If you don’t have a lawyer, you need to find one. Your lawyer will be able to determine whether or not the offer is fair and considers all aspects of compensation. Yes, a lawyer will get a small percentage of your settlement for their work, but they also typically get you much more money than you could secure on your own. Before you agree to a settlement, always run it by a professional, even if the insurance company says that the offer is only good for a short period or only valid if you elect not to bring in representation. Your lawyer needs to review the settlement.
2. Read And Understand Your Concessions – It can be easy to skim the settlement offer for the final payout amount, but it’s essential that you completely understand what you are agreeing to in the settlement. You need to understand how the settlement accounts for aspects like lost or decreased earnings capacity, future medical expenses and continued medical care. If you are going to have long-term fallout from your injuries, you need to make sure that you are appropriately compensated now and in the future. Again, this is where a lawyer proves essential. Make sure you understand everything you are agreeing to if you sign the settlement, don’t just focus on the total settlement amount.
3. Your Next Steps If You Don’t Sign – Finally, before you sign a settlement agreement, let your mind at least consider what the next steps would look like if you opted to decline the current offer. For most people, this means either offering a counter proposal based on their own facts and figures, or preparing to take their case before a mediator or a judge. Here’s where you’ll once again want to sync up with your lawyer. Ask them to walk you through your options if you decide not to agree to the settlement, and what you should do if a counter proposal or a court date is in your future. It’s never a good idea to sign a settlement without at least considering what your next moves would look like if you decide not to sign on the dotted line. Know what you’re agreeing to, but also know what next steps you would be giving up if you are considering signing an injury settlement.
If you want assistance with any one of these steps, make sure you connect with an injury team with a wealth of experience helping clients get the compensation they deserve. In the greater Twin Cities area, connect with the team at Hey Workers today at (844) 439-9675.
