In the state of Florida, car accidents cost over $3 billion dollars every year. Whether a minor accident or a devastating crash, these costs are a huge burden for victims. After an accident, many people only think about the direct costs of medical bills and the damage to their vehicle. However, every accident has many ancillary costs that can be a huge financial burden.
In this article, we’ll discuss what the real costs of a car accident include and help you understand how to pay for them.Property Damage Costs
The average cost of a new car in Florida is around $33,000. No matter how much you earn, that is a lot of money to lose. Car accidents can total your car, leaving you out thousands of dollars. What’s worse is if you still owe money on the vehicle, you could end up paying for a car you can’t even drive. Many insurance companies lowball property damage claims, banking on depreciation. So you may not ever get the full value back.
Medical Costs After A Car Accident
Cars are really dangerous. When you are hit, even at slow speeds, you are being hit with thousands of pounds of force. Even with the most sophisticated vehicle safety technology, this amount of force can cause untold damage to our bodies. Most of the time the types of injuries we sustain from car accidents like spine injuries, soft tissue injuries, and brain injuries can cause a lifetime of pain and expense. Medical costs don’t just include seeing the doctor, they also include:
● Transportation to and from the doctor
● Pharmaceuticals and prescription devices
● Physical and occupational therapy and rehabilitation
● Both the cost of in home care and home modifications
● Therapy for emotional and mental distress
● Temporary and long term disability
Medical costs are only the beginning, car accidents can also cost victims damage in other ways.
Career Costs After A Car Accident
It is very difficult to work, especially a physical job when you’ve been injured. The inability to bring in your normal salary exasperated the situation and increase the financial straining. Career costs after an accident can include:
● Lost wages from missing work or losing your job
● Lost benefits from missing work or losing your job including retirement benefits, paid time off, and other worker benefits
● Career retraining if your injuries prevent you from working in your current field
● Loss of earning potential
These losses are very significant and can impact your financial security well into the future.
Lifestyle Costs After A Car Accident
Severe injuries are devastating to our entire lives. There are so many intangible damages that can be caused by accident injuries including:
● The emotional and mental pain and suffering caused by your injuries
● Loss of enjoyment because you can’t do the normal things you enjoy like fishing, biking, or playing tennis
● Loss of companionship because you may not be able to maintain your normal relationships with your family members
These intangible costs have a value that can be included in your settlement.
How An Attorney Can Help You Recover Your Damages
Insurance companies are in the business of making money, so they do everything they can to not pay the full value of your claim. With the support of an accident attorney, you can calculate the true value of your damages and pursue a claim that covers all of those costs. No matter the severity of your injuries, an attorney will work to protect your rights to compensation.
The St. Pete’s Attorney Michael Babboni has been doing just that for nearly 30 years. He’s known by the insurance companies for fighting all the way to court for his clients to help them get the full compensation they deserve. Before you accept any settlement from an insurance company, make sure the real costs of your accident injuries are being covered. Call 727-381-9200 today for a free consultation to learn what your claim is really worth.
