What is the number one trick to getting a huge workers compensation settlement? Believe it or not, there's one small thing you can do to increase the size of your settlement by as much as 50%. So in this video, I'm going to reveal what that simple step is and how you can use it in your own case.
But before I do, you first need to understand the process your workers compensation case goes through and what happens to its value along the way.
When it comes to the value of your workers compensation case you could think of it as a line graph. At the start of your case the potential value is at its highest because you haven't received medical treatment or been paid for your time off work.
But as you receive those benefits over time that line starts to come down as the value of your claim diminishes. And that means the potential of any settlement is also decreasing. But that's okay because you're receiving the benefits that you're entitled to.
Now, during this time nobody's entirely sure what the exact value of your case is, because there are still so many unknowns. How much medical treatment will you need in the future? Will you be permanently disabled? If so, how disabled will you be? Will you be able to return to work or will you need job retraining? Nobody knows for sure.
And because nobody knows, it's difficult to put an exact value on your workers compensation case. And because it's difficult to put a value on your case, you and your workers compensation lawyer have more room to negotiate for a big settlement. However, all that changes once you have your permanency hearing.
There comes a point in time where your case will be brought before a judge and they will determine your degree of permanent disability. And once they make that decision, the value of your case becomes a lot more black and white, which means you have less room to negotiate. S
o there is a sweet spot where you want to settle your case, a point where you and your lawyer can negotiate a much larger settlement that otherwise possible, which I'll explain next. So stay tuned!
My name is Rex Zachofsky and I became a New York workers comp lawyer 17 years ago after getting injured on the job. If you're looking for a lawyer to help you with your claim for New York State workers compensation benefits, please give me a call at 212-406-8989 to schedule a free consultation. Our conversation is confidential, it cost you nothing, and could potentially get you thousands more in benefits than you would otherwise receive.
So where is this sweet spot where you could potentially negotiate a huge workers compensation settlement? You want to settle your case when it's clear that you're going to have permanent disability, but before a judge determines your level of permanent disability.
Because before you receive your permanency rating, your lawyer can use their imagination and the facts before them to show that the value is high, and that there's going to be a lot of exposure to the insurance company. Your lawyer can also show that there's going to be a high level of permanent disability, and that it's going to require a lot of future medical treatment.
And because the insurance company doesn't know exactly how much exposure they'll have, you can often negotiate a settlement that's as much as 50% larger than if you waited until after permanency.
Not only that, I've seen injured workers who turn down settlements before permanency going on to receive absolutely nothing! So it's not only a bigger settlement, but often a safer one as well.
But wait, if settling before permanency allows you to negotiate a bigger settlement, why don't insurance companies just refuse to settle until after?
Because it's often in their best interests as well to settle your case. It's expensive for insurance companies to determine your degree of permanent disability. They have to pay for every doctor they depose, every hearing they request, every court reporter taking transcripts, and every lawyer they assigned to your case. Then once the judge makes a decision, they pay you whatever the award is.
So a lot of times they're willing to negotiate even though the deck is stacked in your favor. All you need to do is ask your lawyer to settle once it's clear that you're going to have a permanent disability, but before your permanency hearing.
It's as simple as that.
And if you want more tips for your workers compensation settlement, I'll include a link to my other video here: In it, I reveal 8 more secrets to winning a big workers compensation settlement, one of which could potentially increase the size of your settlement by as much as 150%. So click here to watch this video next, and I'll see you there.