If you have been injured while working at Lowe’s and your claim was not denied, odds are the employer’s workers’ comp insurer will be offering you a settlement as soon as the physician has released you. You should not accept a workers’ compensation settlement without first consulting with an attorney. This is because after a settlement has been finalized, there is nothing you can do. However, an attorney can negotiate for you before you agree to a settlement. A lawyer will look at your entire situation, including your injuries, how you will be affected long-term, and any future medical expenses you might encounter along with your disability rating. Negotiating a Lump Sum Settlement In most states, if you are being paid short-term disability payments through workers’ compensation, you can negotiate a lump sum payment rather than continuing the weekly payments. Sometimes, an injury results in a disability rating when you are released from the physician. In some states, that rating will lead to a lump sum settlement. Workers’ comp laws do vary from one state to another, so you need to consult with a lawyer who is familiar with the laws where you live and work. When you are negotiating a settlement, there are several things to consider. For example, how serious your injury is, the need for future medical care, and how that injury is expected to affect your future earnings. What Happens When There is a Disagreement When there is a disagreement regarding your workers’ compensation settlement, there are two options. You can either negotiate a settlement with Lowe’s insurance company, or you can go to court and let a judge rule on the dispute. Settling does have its advantages, such as you will get your money more quickly. Settling also has disadvantages, such as you will not be able to go back and ask for more money later if you learn your injuries are worse than you initially believed. You need to also consider that if you go to trial, the judge could reduce your settlement amount. And, depending on your state, after a trial and a judgment, you cannot receive a lump sum settlement but must accept weekly payments. Sometimes you might ask the insurance company to buy out future benefits. As an example, if there is a 25% chance you will need back surgery in the future, you can ask for that cost to be covered in your lump sum settlement. If you don’t have to undergo surgery, then you have come out ahead. Schedule a Consultation With a Workers’ Compensation Attorney If you have suffered an injury while working at Lowe’s, do not agree to a lump sum settlement until you have talked with a workers’ compensation attorney. After you have agreed to a settlement, you cannot go back and ask for more money. Complete the Free Case Evaluation Form on this page today to share your details with a workers’ comp attorney. *Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against Lowe's, or any other party, you may not be entitled to any compensation.
