How Much Is Your Car Accident Settlement Worth? Free Settlement Estimate

First of all, remember that workers’ compensation cases require approval from the State Board of Workers’ Compensation from the state you live in, which can take time. 

Second, no matter how injured you say you are, you cannot force your company’s workers’ compensation provider to settle your case. They also cannot force you to settle. 

To come to an agreement so you can get paid, you or your lawyer need to negotiate a fair settlement. Before you think about settling, you should ensure you really understand what goes into a settlement. Or, hire an attorney to handle this for you. It can be worth it financially to hire a lawyer so you can obtain the most compensation possible. 

Once you have settled the case and it has been approved by the state board, it is then final. It cannot be changed later. 

If all of this sounds like it could take time, you are right. First, you need to negotiate the settlement and send it to your state board. Assume that the board approves the compensation settlement. From there, it usually takes 30 to 60 days until the insurance company pays the settlement. Some cases do not take that long, and others with more serious injuries could take even longer. 

Major factors that affect the timeline are: 

  • The time it takes to prepare the settlement paperwork
  • Time it takes to agree on changes to paperwork language
  • Time it takes for the state board to review the settlement paperwork
  • How long it takes the workers’ comp insurance company to pay you. 

The insurance company has 20 days from settlement to pay you. If they fail to do so, they have to pay you ao 20% late penalty. 

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