3 Reasons You Should Never Rush a Workers Compensation Settlement

Getting injured on the job can make a dramatic change to your life. Not only will you go through the physical and emotional pain of an injury, but you will suddenly find yourself without an income. In some cases, you may feel the excitement when an insurance company offers you a settlement option, but you may not want to accept the money right away.

If you rush into a workers compensation claim, then you could miss on some potential benefits and sell yourself short. Learn some of the reasons why you should not rush your claim and ways that a legal team can help you get the worker's compensation settlement you deserve.

1. Fast Cash Versus Long-Term Financial Stability

A quick settlement may seem tempting with the amount of cash presented to you. When you are suddenly cut off from a regular paycheck, you have the opportunity to cash in on that settlement, but the amount of money you receive could go quickly. When you wait and show patience, your ultimate payout could end up being much higher.

As you wait for a proper settlement to fit your situation, you have the opportunity to seek other options. For example, you could set up an online fund to help raise support and funds for your everyday needs. You could reach out to family members for support and help build on the stability until you finally reach a settlement.

The difference could be life-changing and result in a settlement that fully covers your financial needs as you heal through an injury.

2. Future Injuries and Medical Needs

As you heal through initial injuries, you may never know what other kinds of ailments may pop up. For example, you could have a back injury that leads to movement problems in the future. You could need physical therapy or special adaptive equipment that you may not have needed right away. If you take a quick settlement, then those funds may not cover those needs.

With a full medical evaluation, doctors can supply detailed notes and showcase your diagnosis. With additional details and a full scope of your needs, you can seek a larger settlement and workers compensation under a completely different category.

For example, instead of an impairment rating, the extent of your injury could lead to a declaration of a permanent disability. With a permanent disability, you can collect more money and have the funds available to support your medical needs. Taking the time to go through the proper medical channels can make a big difference on your final outcome and settlement.

3. Legal Help and Challenges

If you take the first offer from an insurance company, then part of the agreement may close you off from any other settlements ever again. The inability to make claims or seek legal help could have a dramatic impact on the outcome of your case. If you take the extra time to seek proper workers compensation, then you will have the opportunity to consult with a lawyer.

A lawyer can look over your case and present challenges to the initial offer. For example, your initial offer may include reductions based on how the injury occurred. The reductions could possibly cut your settlement in half, and you will want legal help to prevent these dramatic losses.

Through the legal process, you can receive a maximum settlement and help make the most out of your workers compensation claim.

Contact us at Spooner & Perkins Attorneys at Law to set up a consultation appointment. Our professionals can look over your circumstances and help determine the best steps forward to help represent your case.