If you have sustained a work-related injury, you want to notify your employer right away. The insurance of your employer will have to pay for your injury. Such a process means an insurance company will assign an insurance adjuster to handle your case. The main goal of this adjuster is to save their company money, without regard to your financial well-being. With the help of a workers’ compensation lawyer in Richmond, VA who knows how exactly the process works and the tactics adjusters use, you may get the maximum compensation you deserve.
Various Kinds of Workers’ Compensation Claim Settlements
Claim settlements are voluntary agreements made by a claimant and an insurer. No one can force a person to take a claim settlement or pay one. When both parties agree to settle a claim, this can arrive as a lump sum payment or installment payment. An insurer may pay out the entire claim or only parts of it like with a medical-only or indemnity-only settlement.
Both types of settlements have pros and cons. For instance, getting a lump sum for a claim may seem satisfactory at first. However, this prevents you from seeking additional compensation if your injury gets worse later. Closing an injury claim coincides with your payout and you won’t have a chance to get additional benefits. A skilled workers’ comp lawyer can help you find the right option for you.
In addition, you should also keep in mind that insurers may make voluntary payments after your employer reports your injury to the Commission. They do so in the hopes that the legal filing deadline will expire before you can file your claim. In Virginia, you can file a workers’ comp claim within two years of the injury. You should meet this deadline to ensure you do not lose your right to compensation and get an award order under workers’ compensation law.
How Much Time It Can Take to Get a Settlement?
Each worker’s comp case is unique, so there’s no specific amount of time it needs to settle your case. A lot of cases take more than one year to wind through litigation; however, this depends on many factors. Thankfully, a workers’ comp lawyer can help speed up the process for you. They can do so by ensuring you can complete all necessary paperwork and collect evidence to support your claim as early as possible. Also, they will help you avoid making mistakes that can delay the claim process or ruin your case altogether.