What is the average workers comp settlement? Quick Answer
- The average workers' compensation settlement nationwide is approximately $44,200, based on data from the National Safety Council (NSC). Actual settlement amounts differ depending on injury severity, job type, and regional medical costs.
Discover key insights into workers' compensation settlements, covering average amounts, key factors, and industry trends.
How Workers’ Compensation Works
Workers' compensation is a vital safety net for employees who suffer injuries on the job. It provides medical benefits and disability payments to cover a portion of the worker’s lost wages. Understanding the average workers' comp settlement can help both employers and employees navigate the complexities of workplace injuries.
Keep in mind that these numbers may be significantly lower than personal injury settlements for similar injuries. Personal injury claims cover additional losses not covered by workers’ comp, such as the worker’s full wage losses and pain and suffering losses.
Average Workers' Comp Settlement Overview
The average total incurred cost per claim combines medical expenses and disability benefits to reflect the comprehensive burden of workplace injuries. According to the latest data, the average cost across all claims stands at $44,200, with medical costs averaging $23,409 and indemnity payments averaging $20,800.While some straightforward claims may resolve within a few weeks, more complex cases, especially those involving permanent disabilities, can take months or even years to settle, depending on factors like the insurer's investigation and legal proceedings.
Factors Affecting Workers’ Comp Settlement Amounts
Understanding the average workers' comp settlement provides a baseline for estimating a generic claim. However, the amount you can expect for your claim depends on many factors, including:
- The severity of your injury
- The body part affected
- The impact of your injury on your ability to perform your job
More severe injuries will justify greater workers’ comp benefits. For example, a severed finger will receive a bigger workers’ comp payout than a broken finger.
Similarly, the payout will depend on the body part affected. Thus, a broken finger will not receive as much as a broken leg.
Finally, your ability to work during recovery will affect your disability benefits. This factor depends on your injury and your job.
Learn More About Workers’ Comp From ConsumerShield
Workers’ comp provides an essential lifeline for workers with on-the-job injuries. However, the amounts paid vary widely depending on the injury.
ConsumerShield educates injured workers about their legal rights and options. Contact us for a free case review and a referral to a lawyer to pursue any legal claims you have.
