Being involved in a motor accident is extremely stressful. Without mentioning the health issues they can cause, they are unsettling and cause frantic panic to everyone involved. Once the dust settles however, they can have a strong financial impact on your livelihood. This is why it is so important to have car insurance and be able to use the knowledge of the best car accident attorneys around. Highlighted below are the ways that a car accident can create financial stress and be a burden post-accident.
Car Repair or Replacement
The most obvious burden is actually repairing or replacing your car. Whilst your insurance should be able to help, it isn’t as simple as it seems. When you are involved in an accident, payouts from the insurance company can take longer than you may expect depending on how quickly your car claim can be settled. If liability of the claim is in doubt this could prevent you from receiving a replacement car when yours in for repair or in the process of being written off. That is obviously all depending on your cover also. In the event you are paid out, it will be deemed at what the insurer values your car at, so if you are wanting to replace it with a newer or similar model, in cases you maybe forking out a lot more money than you would expect.
Medical Expenses & Loss of Earnings
Personal injury after an accident can take its toll on your body and unfortunately your bank account. Hopefully your insurance/health care will cope with the majority of your medical expenses but depending on the severity of your injuries, aftercare and physio is usually very expensive. When injuries are severe or have affected you within a medical expenses sense, they usually also affect your earnings from work. If you have suffered and injury that prevents you from attending work, it’s common that (depending on your employer) your income will reduce significantly.
Future Insurance
After a car incident that has been taken through the insurance, you will be also be stung going forward as an incident like this is always taken into consideration when calculating your car insurance premium. So there is a strong likelihood (especially when settled as a fault claim) that insurance quotes you get going forward will increase by some way. Which can also have a knock on effect on excesses and the level of cover available to you.
How a Car Accident Attorney can help
A car accident attorney can help with a lot of these unfortunate financial burdens. Finding the right attorney can be the difference of receiving a high level of compensation, to barely covering a car repair. They will help you and put a strong case to determining liability. Liability being settled as a non-fault accident and fault accident will massively change the financial issues you could experience because of an accident. They can also help with legal advice with non-insured losses that can occur which will also help with the loss of earnings from work.
Make sure that you seek legal advice if you have been involved in a car accident which wasn’t your fault.
