How Do I Know If I am Getting a Good Deal on my Insurance Settlement
Q: Last year I was hurt on the job and I have been unable to return to work. The insurance claims adjuster called me about settling my claim. How do I know if I am getting a good deal?
A: Injured workers have the option of settling their claim for future benefits. The amount of the settlement can be negotiated between the parties. Unfortunately, insurance companies usually know much more about the value of the claim that most injured workers. Your claim costs include lost wages (time loss), permanent disability, medical benefits, and vocational rehabilitation/retaining benefits if you are unable to return to your usual job. It is tempting to take the insurance companies offer but you need to know the full value of your claim in order to get the best value. You can contact the Oregon Workers’ Compensation Division, the Injured Workers’ Hotline, at 1-800-452-0288, and get some advice from the Workers’ Compensation Division which regulates insurance companies. They can tell you what to look for. You can also contact an attorney who specializes in workers’ compensation practice who will give you a free consultation to discuss your options and whether a settlement is a good deal.
Philip H. Garrow
Attorney at Law
Practice Limited to Workers’ Compensation Cases and Social Security Disability/SSI Claims