Despite employers being required to offer their employees safe working conditions, workers can still end up getting injured at work. According to the U.S. Bureau of Labor Statistics, 3 out of every 100 U.S. workers got injured at work in 2019. Operating heavy machinery or working in unsafe conditions can lead to harm, particularly when the employee was not instructed on what to do in these situations or when the employer took no measures to fix the issues. 

When you get injured doing your job, your employer must offer you some compensation. Workers’ compensation differs in amount in every case, so if you have been injured at work recently or just wonder what would happen if you ever ended up in that scenario, you may be curious about what the average workers’ compensation settlement is. 

This article will give you the information you are looking for. 

What Exactly Does Workers’ Compensation Represent in Injury Settlement Cases?

When you get injured at work and make a claim against the employer, the insurer of the company will have to take a look at it as soon as possible. He or she will investigate your situation and find out whether you were hurt at work or the injuries were already present before the incident even occurred. 

If your injuries resulted from you doing your duty at your job, then the insurer will have to start paying for different things, including lost wages and medical care. In the event that you are able to get better sooner, the employer’s insurer will make benefit payments for several weeks. This way, the claim will be resolved smoothly. 

There are, however, situations when you could deal with more than one injury, and these injuries could be serious too. In some situations, you may even become permanently or temporarily disabled, and be like that either partly or fully. This will not only mean more medical care but also more wages lost. You may even need to acquire new equipment or make house renovations that cater to your needs. 

When this happens, you can get the right amount of compensation through what is known as a workers’ compensation settlement. There are different ways this could be done – it can be a lump sum payment which you then use as needed, or you can receive a particular amount of cash over time. 

When it comes to workers’ comp settlements, you basically receive an offer from an insurer offering to resolve the claim in exchange for a sum of cash. If you accept the settlement money, you cannot get more than the settled amount, thus you won’t be able to ask for extra funds. 

How Are Workers’ Comp Settlements Calculated?

Whenever a workers’ compensation claim is calculated, several aspects are taken into account. How much you usually receive will be influenced by how severe your injuries are. Simply put, accidents in the workplace come in three main categories: severe injuries, complex injuries, and soft tissue injuries. In order to make sure you get the right amount in workers’ compensation, you should hire a skilled and experienced workers’ compensation attorney. In New Jersey, the NJ Workers’ Compensation Law was passed in 1911, and it offers benefits to all workers who were injured at work. An attorney can ensure your rights are respected. 

Some things that could be used to calculate the settlement for workers’ compensation include:

• The severity of the injury
• Lost wages
• Medical expenses
• Pain and suffering
• Negligence and fault

What is the Average Workers’ Compensation Settlement?

On average, workers’ compensation settlements are around $20,000. But as you can imagine, different factors influence the amount someone actually receives after getting injured at work. When one deals with multiple injuries following a work accident, the settlement amount can grow. 

There’s an average workers’ comp settlement of $62,859 for cases where a worker had multiple body parts affected by the unfortunate event. Out of this, $30,212 is for indemnity, and $32,647 is for medical treatments. 

Now, while the average settlement is great when you want to estimate how much you may get from your own settlement, you shouldn’t use it as a clear indicator of your case’s outcome. Each case is different, and depending on your injuries and how your life is impacted, you may get more or less compensation.

Final Thoughts

Getting enough in your workers’ compensation settlement is a must when you were severely injured in a work accident. Make sure to hire a lawyer who can help you obtain as much as you deserve from your employer.