Any person who has been in a car accident knows how this one incident can change their life forever. Their recovery could take days, weeks, months, or years. However, the emotional and financial toll may last much longer. The economic aspects are often significant. Fortunately, the victim of a car accident can receive help paying bills related to the accident. What do they need to know when seeking this compensation?
Short-Term Financial Concerns
Many victims find they have short-term financial impacts that must be addressed following a car accident. They should consider hiring an injury attorney to seek compensation for any bills they incur relating to this accident. What bills should be included when requesting this compensation?
Medical expenses can quickly add up following an accident, and the victim should not be responsible for these bills. In addition to any care the victim requires immediately following the accident, they may have long-term costs for physical therapy, rehabilitation, and more. The responsible party or their insurer should pay these bills, and a victim can request that they do so.
Vehicle Repairs
Victims of car accidents often lack a vehicle. They need transportation to and from medical appointments, work, and other obligations. The car may be repairable, or it might need replacement. The person responsible for the accident should provide compensation for the repairs or replacement.
Lost Wages
Victims often are unable to work for a period following the accident. They may not be paid for this time missed, which can lead to financial difficulties. Every victim should consider seeking compensation for lost wages and productivity.
Higher Insurance Premiums
Insurance premiums often increase following an accident. The victim should not have to cover these additional costs, which may add to any financial strain they are experiencing. They should talk with their insurer to learn how an accident that was not their fault might impact their premium.
Long-Term Impact
Auto accidents also have a long-term impact on a person’s finances. Many focus on the immediate aftermath without considering their situation months or years later. They must consider the long-term implications of the accident regarding their finances and ensure they are compensated appropriately.
Medical Treatment
Victims of car accidents often have significant injuries that will require treatment for months or years. Surgeries and physical therapy quickly add up, and bearing the brunt of these expenses can be challenging when a person is focused on their recovery. They may be struggling with chronic pain or another condition that limits their ability to complete basic tasks. Seeking compensation for their medical treatment will reduce the financial burden, allowing them to focus on their recovery.
Diminished Earning Capacity
A victim might find their injuries prevent them from returning to the job they held before the accident. They could lose earning capacity due to their injuries, which permanently affects their financial future. Victims need an experienced attorney to help them calculate their loss of earning capacity to ensure they receive fair compensation from the responsible party.
Home Modifications
A person might need to modify their home to accommodate limitations related to their injuries. They may need a stairlift or wheelchair ramp, for example. Assistive devices are helpful to many but come with a cost. Any compensation received for the accident should include these expenses.
Emotional Damage
A person might suffer long-term emotional damage following an accident. Many victims have reported PTSD, and anxiety and depression are concerns. They will need therapy to overcome these challenges, which the responsible party should pay for.
Many people don’t fully comprehend the financial impact of an accident. They accept a settlement only to find they must pay certain expenses out of pocket because the settlement was too low. Don’t make this mistake. Work with an experienced attorney to ensure fair compensation is received and all bills are covered. A person’s financial future is too important to leave to chance.