automobile accident

Major Expenses Following a Car Accident

  • By:ShamonLaw

Want your finances to come out unscathed in a car accident, even if you have a few bodily injuries? You should hire an attorney who knows the law in such incidents. They’re the ones who can help you get the most desirable outcome, and even minimize the costs involved in an automobile accident.

 

Direct costs of a car accident

These refer to any costs accrued directly from a car crash or collision. These include medical costs, compensation payments made to the injured party, and the like. Most direct costs are easier to calculate and keep track than hidden or indirect expenses.

 

Indirect costs of an automobile accident

These are less obvious, but will cost you money just the same. Time away from your work, for example, is money down the drain, especially if you don’t get paid while you’re in the hospital. Add that on top of medical costs, and you’re definitely on the losing end where your finances are concerned.

Other indirect costs are damage fees on your car or the other party, those associated with repairs and replacement, medical costs not covered by insurance, lawyer’s fees, and costs that arise from any enforcement action. Prosecution fines and remedial works are not free, after all.

 

Hidden costs that are likely to occur

These are expenses that would spring on you the moment everything is settled, following the accident. One of these consequences is an increase in insurance premiums. Not exactly a secret, but when an accident is not your fault and you end up paying a higher premium, your frustration will have no end.

It becomes even more frustrating when the spotless driving record you’ve had for years suddenly gets a red mark. No one wants that to happen, as taking out another insurance can become a problem.

There’s also a possible concern on car rentals, which you may have to pay for while your vehicle is under repair. If your car is a total write-off, you’re going to need another one. If your insurance doesn’t cover it, then what’s worse is continuing to pay for an existing auto loan, even when the car in question is no longer serviceable.

 

How a good attorney can help

With all these expenses you’ll have to face, it pays to hire a good lawyer that’s in your corner. They can help you get the best outcome, along with benefits that you deserve, regardless of what happened during an automobile accident.

 

  • Make a substantial claim

It’s always best to find a lawyer knowledgeable of the law and procedural rules. With them, you will be able to lodge a claim on time and gain maximum compensation. If they work on a contingent-fee basis, you will definitely get much more from the payout.

 

  • Legal support and defense

Any threat of legal action often leads to a fair settlement. But because it’s not just about compensations and claims, an attorney would definitely come in handy.

 

Moreover, lawyers will do much of the legwork on your behalf. This will prove helpful if you are confined in the hospital. Although statutes of limitations run within two years of your accident, it’s best for an attorney to get to work while the accident is still fresh.

 

 

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