Sometimes, accidents won’t be your fault but you will still have to pay for them. In many cases, it’s the recklessness and ignorance of another driver that causes harm and discomfort to people around them, and in the worst case, irreparable damage. Not only does this driver create problems for themselves, but they also cause inconvenience that can have far falling effects on the lives of other people. If you have been in an accident recently, or know someone who has been in the same tragic situation, these are some of the main expenses you need to keep an eye out for.
1. Medical Expenses
Even accidents that don’t result in any visible physical damage can have high medical expenses for the person involved. These would include internal body damage, bone damage, and mental disturbances, which are all expensive medical problems to treat. The healthcare industry itself has its own dynamics and as healthcare gets more expensive, it gets more difficult for people to afford quality medical services for themselves and their families. Right after the accident, there are emergency services, ambulance rides, surgery costs, doctor visits, and follow-up visits to pay for. More importantly, even with all these services, some things don’t go back to the way they were. Some people are stuck with recurring problems, or lifelong ailments that become a fixed long-term expense in their lives.
2. Legal Costs
If you feel like you need to take up the matter legally in court or if the other accident victim feels like they need to file one against you then this becomes another expense that you get dragged into. Even if you have no problem with the situation and don’t want to pursue the matter, you will have to spend money to diffuse the case in court with your opponent. This can be especially challenging and expensive if there are more than 2 people involved, or there has been a serious injury or death due to the accident.
3. Physical Damage
If there are non-evident damages in an accident, of course, physical damages are possible too. These can range from bruises to major injuries; the vehicle can acquire serious damage too. While insurance companies and other health coverage services will get your medical bills paid, they won’t necessarily provide coverage for physical property damage. Whether this is city property or private property, you eventually might have to pay for repairs out of your own pocket. If you have extensive insurance then this might be covered but it is a potential expense you should watch out for.
4. Cost To Credibility
While on the one hand lenders might be able to help you out in this troublesome situation, it will negatively impact your ability to secure funding in the future. Whether it is your vehicle insurance, health insurance, or any other form of coverage you have, your credit score will take a hit in the case of an accident. When lenders see that you have claimed insurance in the past, they go with the assumption that you are likely to do so in the future. The same goes if you haven’t claimed insurance prior, they’ll assume you won’t in the future either. This is a silent cost of insurance claims that cannot be avoided.
5. Employment Problems
An accident can have you out of work for weeks and even months. Many employers are very cooperative and understanding of the situation but you need to see it from an employer’s perspective: the show must go on. They might be forced to hire someone else in your position to keep the business going and this could potentially cost you your job. Moreover, during the time of recovery, employers are not obligated to pay you. It’s great if they do, but you could be losing money because you are unable to work. This is not a direct expense but more of a loss of income.
6. Vehicle Expenses
If you are insured, the cost of repairs to your vehicle might be covered by the insurance company but you will still have to bear the discomfort of being without a vehicle and spending more money on commuting while you wait for your car to be repaired. In the case that you aren’t insured, not only will you have to pay for your vehicle repairs out of your own pocket but you will also have to invest your time in getting your vehicle up and running again.
A car crash is an unfortunate event for anyone to be a part of and severe consequences make the already unfortunate event more tragic and difficult to cope with. Other than the physical and mental problems that they create, road accidents can be a major monetary setback and also create serious hindrances in their jobs and sources of income.
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