Average Settlement for a Workplace Injury
Workplace injuries are disturbingly common. According to the National Safety Council (NSC), a worker is injured on the job every 7 seconds. This equates to 540 work-related injuries every hour in the United States. In 2018, approximately 5,250 workers died from a work-related accident. These numbers are staggering but fortunately, workers' compensation laws exist to protect employees against work-related accidents and on-the-job injuries.
If you've been involved in a workplace accident, you likely have several questions about your claim including:
- How much money will I get from the insurance company?
- What is the correlation between the severity of injuries or damages and case value?
- How can I get as much money as possible from my workers’ compensation settlement?
How Much Money Will I Get From The Insurance Company?
One of the biggest concerns of victims of work-related accidents is the amount of financial compensation available through workers' compensation. The good news is that a large number of injured workers (73%) receive some kind of settlement from their workers' compensation claims.
According to a comprehensive survey, conducted by Martindale-Nolo research, the average compensation received by workers for their workplace injuries was $21,800. Most injured workers (55%) received between $2,000 and $20,000, while 13% received between $20,001 and $40,000.
However, the amount you will receive will depends on several factors including:
- The injured body part(s)
- The severity of your injuries, whether permanent partial disability or permanent total disability
- The severity of any permanent impairment
- The cost of medical treatment received
- The cost of future medical treatment required to recover
- The length of your recovery time
- The cost of rehabilitation, if required
- The cost of vocational training, if required
- The value of death, burial, and funeral benefits, in case of work-related fatalities
- The jurisdictional requirements
- The strengths or aggressiveness of the negotiators
- The amounts available through the workers' compensation system in your state.
What Is the Correlation Between the Severity of Injuries or Damages and Case Value?
The severity of a workplace injury is a pivotal factor that affects the amount of compensation your case is worth. Workers' compensation offers relatively smaller payouts for common workplace injuries such as sprains and strains because they are mild and require little time to recover.
However, devastating injuries such as burns, amputation, catastrophic brain injuries, spinal cord injury, or loss of an arm, hand, or leg, may yield larger payouts. These injuries are generally categorized as a permanent partial disability or permanent total disability. They are more severe and cause substantial, far-reaching modifications to the victim’s life.
How Can I Get As Much Money As Possible From My Workers' Compensation Settlement?
If your workplace injuries have left you with a lasting impairment or resulted in an inability to work for a certain period of time, it’s important that you recover substantial benefits for your injuries. Here are some tips to help you get as much money as possible from your workers' compensation settlement:
- DON'T take the first offer the insurance company makes. According to a survey, employees who accepted the first settlement offer from the insurer received an average of $10,700, while those who negotiated received an average of $26,300.
- DO talk to a workers' compensation lawyer immediately. Your attorney can help you determine the true value of your case and negotiate with the insurance company.
- DO file a workers' comp appeal. Your attorney can help you file an appeal with the state workers' compensation agency. Workers who filed a workers' comp appeal tend to receive much better compensation.
Getting injured at work or while on a work-assignment can be painful and unsettling. The resulting injuries can have a significant effect on your physical, mental, and financial health. If you were injured in a work-related accident, you need a knowledgeable attorney on your side. Call Bruscato Law today for legal guidance and help in pursuing fair compensation.
Get Relief with the Help of a Monroe Workers' Compensation Lawyer
If you have been hurt at work, you don't have to go through it alone. Contact Bruscato Law today for help with your workers' compensation settlement and to discuss your legal options. I will fight vigorously to protect your rights and increase your chances of getting fair financial compensation for your workplace injuries and damages. Call now to schedule a free, no-obligation case consultation with an experienced workers' compensation attorney in Monroe, Louisiana.