Understanding Financial Loss After a Car Accident

About 27% of all car accidents result in non-fatal injuries, with another 72% leading to property damage. If you were recently in an accident, your expenses could stack up. Talk to a lawyer about your financial loss instead of paying out of pocket.

With help, you can fight for the car accident compensation you deserve. Read on to learn more about financial recoveries after auto accidents today. 

Medical Expenses

Medically consulted injuries in motor-vehicle accidents reached $5.4 million in a single year. Total motor-vehicle injury costs reached $498.3 billion.

Common car accident injuries include:

  • Whiplash
  • Bone fractures
  • Head injuries
  • Soft tissue injuries
  • Back injuries
  • Spinal cord injuries
  • Traumatic brain injuries
  • Concussions

A motorcycle accident could cause more severe injuries. Talk to a lawyer for motorcycle accident claims to calculate your losses.

The next time you’re in an accident, visit a doctor right away. Only a medical expert can assess your injuries. Their report can strengthen your car accident compensation claim.

You might need medical care in the weeks or months after the accident, too. Make sure to follow-up with your appointments. Keep a record of your medical bills, treatments, surgeries, and medications.

Your lawyer will use this information to calculate the full extent of your losses relevant to your car accident case. They’ll consider your current and future medical needs to maximize your claim. 

Lost Wages

If you sustained injuries after your auto accident, you might need to miss work for an extended period. Keep track of your lost wages during this time. Have copies of your pay stubs to help your lawyer determine your losses. 

If your job requires manual labor, an injury could affect your ability to earn a living. You might need to begin working a different job, which can affect your earning potential. Your lawyer can determine your diminished earning potential when calculating your losses. 

Property Damage

After a crash, your car might be out of commission for a period of time. If your car was wrecked or totaled, the property damage could exceed your insurance coverage. 

Keep track of all property damage related to the crash. Track the repairs your car will need, too. If you totaled your car, keep a record of car rentals, transportation costs, or the cost of a new car. 

These payments can stack up over time.

Your lawyer can use these expenses when calculating your car accident compensation. 

Pain and Suffering

Not all losses are economic losses. Some, like pain and suffering, are more difficult to calculate.

For example, perhaps you developed post-traumatic stress disorder (PTSD) or lost your enjoyment of life. 

Talk to an experienced lawyer after your car accident. They’ll help assess how the accident affected your life. 

Discuss Your Financial Loss After an Accident

A car accident can lead to monumental financial loss. Don’t pay for your medical bills, lost wages, or car repairs out of your own pocket. Instead, contact an experienced car accident lawyer right away. 

With their help, you can build a strong car accident case to fight for the compensation you rightfully deserve. 

Searching for more tips? You’re on the right blog.

Explore our latest articles for more advice

Leave a Reply

Your email address will not be published. Required fields are marked *