When you think of a car accident you may think solely of car repairs and possible injuries. However, there are a lot of unforeseen costs that can result from a car accident. It is one of the reasons why you take classes to learn not just how to drive but road rules as well. You learn about taking responsibility for the safety of yourself and your passengers but other drivers and pedestrians. You’re taught to take care of your car well. It’s not just about preventing your car from breaking down on you but it is also a part of road safety. Issues with your car can cause an accident. Driving requires a high level of responsibility and moral guidance.
Cost Of A Car Accident
As mentioned the cost of a car accident goes beyond car repairs and medical bills. It can get quite costly especially if you’re in the wrong or have been involved in a hit and run. Hit and runs are some of the more scary accidents as it’s often hard to track down the one responsible and that can leave all of the financial burdens on you. This is why you’re told to have adequate insurance coverage for your vehicle and yourself. Car insurance is a must-have to legally drive on the road. What other cost may you incur from a car accident? Here are a few costs that you may have to deal with:
1. Car Repairs
If you’ve been in a car accident you will most likely have to fix your car or the car of the other person. If the other driver is in fall then they will be responsible for your repairs. However, there are times when although the other driver is at fault other road rules make it where you’re considered at fault. A less honest person will take advantage of this and you can find yourself paying for your own repairs. If you’ve let your insurance policy lapse then you will have to pay for your repairs as well as face possible fines.
2. Physical Injuries
If you’ve been injured you will have medical bills to face. Insurance will cover so much of this but depending on how bad the situation is it may not be enough. Medical bills can be really expensive and if the injury is long-term it can cost you a lot for long-term care. The insurance of either party will take care of it but for more damaging issues you may have to pursue a personal injury case to make sure that you’re fairly compensated. Moreover, physical injuries can cost you time. You may have to cancel important things due to your injury, some of which can result in a loss of time and money.
3. Mental and Emotional Trauma
Something a lot of people don’t think about is the mental and emotional trauma that you can face after an accident. For some, this requires therapy sessions and other treatments in order to heal from the situation. If it results in an inability to operate a vehicle it can be costly to find alternative means of transport. Therapy isn’t cheap and a lot of insurance policies to cover the cost meaning you may have to pay out of pocket.
4. Time Off Work
Having to take time off from work can also be an additional cost in terms of a lack of income. Your job is required to pay you for your time of work, however, this is not an indefinite period. If your injury is severe enough you may need a long time for recovery. At which point you may no longer pay your leave salary. Without the proper insurance to cover the remaining time before your return to work, things can be costly for you. This also includes your medical and physical recovery treatments.
5. Legal Fees
Another cost that can result from a car accident is legal fees. If you have to take your case to court you’ll have to pay your lawyer and other filing fees. If you don’t win your case you may have to pay these fees out of pocket. You may also have to pay the other person in recoveries. This is another reason why it’s important to have insurance to help cover costs in these types of situations.
There is nothing fun or good that comes out of being involved in a car accident. The whole ordeal is stressful and unpleasant. To avoid having to go through a ton of headaches make sure that you’re cautious on the road and that you have yourself covered with both medical and car insurance.