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How Much Is My Workers’ Comp Case Worth?

When you get hurt at work or develop a serious work-related illness, your main concern should be getting sufficient medical care. Once you’ve been treated, your next cause of action should be to pursue justice and compensation from the parties responsible. This involves filing a workers’ compensation claim.

As you file your compensation claim, there are important questions you need to ask yourself such as: how much is my workers’ comp case worth? How can I win my workers’ compensation case? Do I need a lawyer for my workers’ compensation claim?

Before you begin the process of filing your workers’ comp claim, learn important tips on how to win a workers’ comp case. Also, find one of the most qualified and experienced workers’ compensation lawyers in Columbia, South Carolina to assist you in filing the claim. Fortunately, you can now hire your workers’ comp attorney from a reputable law firm like Strom Law.

In terms of what you’re likely to get from the compensation claim, there’s no definite amount because every claim is unique to their specific circumstances. Therefore, even your attorney can’t definitively tell you the exact amount of monetary benefits you’ll get from the claim. They can, however, give you close estimates depending on the severity of your injury or illness.

What Determines a Workers’ Comp Settlement Amount?

In most cases, workers’ comp cases don’t make it to trial because the involved parties are willing to settle out of court. Therefore, your compensation settlement amount will be determined by the insurance adjusters. The amount will be based on what the insurance company anticipates paying on your claim. In most cases, insurance adjusters are determined to pay the lowest amount of settlement.

That’s why you need a qualified and experienced workers’ comp lawyer who understands the loopholes insurance companies will use to deny victims their rightful benefits. Your lawyer must be able to thoroughly analyze your medical records and any other piece of evidence available to determine the most justifiable amount. If they’re certain that you deserve more than what the insurance company is offering and the insurer is uncooperative, then they can decide to take the case to trial.

How Lawyers Calculate Estimated Payouts and Compensation

For your attorney to determine the value of your workers’ comp claim, they need to have enough details about your case, including your medical records, your age, proof of injury, employment contract, cost of medical care, your wages, your past work history, etc. It’s helpful to provide your lawyer with all the necessary details to allow them to accurately estimate the total value of your compensation.

Calculating the value of your workers’ compensation claim isn’t an easy feat because it’s usually based on future workers’ comp benefits. Moreover, there are usually disputes about the extent of your injuries and your ability to continue working. For your employer and the involved insurance company, it’s a business decision that they will closely analyze.

They’ll evaluate your medical care and lost wage benefits to come up with a settlement amount, which often doesn’t mirror the real value of the damages. Your attorney will advise you on the right amount to ask from your employer. Sometimes insurance companies prefer to go to trial if they claim you’re asking for too much.

The compensation your request must be reasonable and enough to help you take care of your family, medical bills, and other basic expenses. The value of your workers’ compensation claim is calculated by multiplying your weekly lost wage benefits by fifty-two (the number of weeks in a year). If you need additional medical care, you can ask the insurance company to increase the value of your case.

How South Carolina Calculates Workers’ Compensation

In South Carolina, the legislature has provided a basic formula to calculate the value of workers’ compensation. With this formula, every injured body part is worth a specific number of weeks of compensation. For instance, a lost arm is worth 220 weeks of compensation. The Workers’ Compensation Act, Section 42-9-30 of the South Carolina code offers a list of body parts and their worth.

Take the number of weeks of compensation and multiply it by your compensation rate, which is your average weekly rate. Please note that the average weekly rate is different from the compensation rate. If the injury has left you earning an average of $300 every week down from your usual weekly wage of $500, then your average weekly rate is $500.

To get your weekly compensation rate, multiply your average weekly rate ($500) by 66.5%. So, the formula will be $500 x 66.5% = $333, rounded off to the nearest number. With this formula, you can estimate how much your workers’ compensation case is worth.

Receive Your Compensation Today

A work-related injury or illness can alter your life forever. Receiving the compensation you’re entitled to is more than money, it’s the peace of mind that you are not abandoned following an injury, and it’s the security that you can continue to feed your family and rebuild to how life was before your injury. Consult with the law offices at Strom Law today to get started with your claim.




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