If you’re looking to get compensated for industrial injuries, know that there’s quite a bit of misconception out there. People usually have no idea how much they might receive or the trial process, and these misconceptions can completely mislead workers and their family members. Let’s dispel the three largest misconceptions regarding industrial injury compensation payouts and what you ought to do instead.
Industrial Lawsuits Always Result in Seven-Figure Payouts
Most people think that cases involving industrial injury, especially those related to asbestos exposure always result in multimillion-dollar windfalls. That’s usually the result of hearing massive verdicts and mesothelioma lawsuit settlements on the news. If you think every hurt worker is cashing out big time, you’re wrong.
The truth is that the media usually spins big headlines and law firms often toss around those settlement figures without pointing out that they are merely averages disguising a whole lot of varying results. The reality is that every case is different, and it depends on the seriousness of your injury, the clarity of liability, your health and age, your lawyer’s experience, and the jurisdiction.
If you research, you will find that some plaintiffs settle for six-figure awards. However, others negotiate prudent structured settlements, and some actually do win seven-figure or bigger payouts. You have to approach your case with some practical expectations. To start, talk with an experienced lawyer who can review your particular situation, such as your records, history of exposure, and who is at fault, to give you a good idea of how much your claim is worth.
Going to Trial Always Results in Higher Payouts
Most people think that going for a trial risk means that there will definitely be a big win, and out-of-court settlement offers are “lesser” outcomes. This myth has been strengthened by dramatic courtroom scenes in films and shows with repeated stories of plaintiffs doubling or tripling settlement offers at trial convincing many that settling means settling for less. The reality is far more complicated.
Trials bring uncertainty, delay, and heavy litigation costs. Juries are sympathetic at times, skeptical at others. Even if the verdict surpasses an initial settlement offer, appeals will stall or diminish the ultimate award. In contrast, settlements bring surety, quick disposition, and control.
Instead of readily believing the notion that trial means jackpot, victims should compare the advantages and disadvantages of both. An experienced lawyer knows when to negotiate aggressively and when to advise against taking the case to the trial court. Remember, for numerous clients, an equitable settlement (without the anxiety of a full lawsuit) turns out to be the best way to prompt compensation on schedule.
Your Employer’s Insurance Will Cover Everything
It’s often comforting to think that settlement of an industrial injury claim doesn’t cost you anything because your employer’s insurance will cover future medical costs. The truth is that personal injury settlement and workers’ compensation serve distinct intentions.
Workers’ compensation usually provides for immediate treatment and moderate lost wages, but not for pain and suffering or non-medical future losses. In personal injury cases, settlement usually includes payment for future care, rehab, home adaptation, and psychic distress.
To safeguard your rights, you need to file a collateral personal injury or products liability action if negligence played any role in your injury. Be sure to work with an attorney who recognizes how settlement structures should incorporate expenses for life-time health care as well as long-range effects. By doing so, you can ensure that your settlement covers all of your recovery needs.
Endnote
When dealing with industrial injury cases, you must understand that a strong path begins with a reality check, record-keeping, and professional advice. You must develop a litigation strategy based on stress, timing, and chances of success, and work with seasoned attorneys who know how to adapt strategy to ensure long-term financial security.