Nearly everyone understands the consequences of getting involved in a vehicle crash. Whether you fully comprehend the financial impact of the resulting injuries and other damages or not, you’re constantly avoiding the situation every day. Vehicular accidents can cost you all the time you have to stand and wait for a heap of bureaucratic processes to start. They can also cost you in terms of hard-earned insurance premiums as they increase, not to mention the fees paid local injury attorney handling your case.
A recent report indicated that there are more than 5.5 million vehicle crashes annually in the United States. A third of these crashes result in mild or severe injuries. Sure, this is a possibility each time you drive, but have you ever thought about all the financial effects tied to an injury? Here is how an injury is likely to affect you financially.
This is the most obvious cost of an injury. The total amount spent on healthcare in the process of recovering an injury depends on the severity of the injury, the necessary treatments, and the amount you’re likely to get compensated in the end. If you suffered minor bruises and other minor injuries, the chances are that you won’t be tossed in the whirlpool of hefty medical expenses.
Often, people who suffer less severe injuries are transported to the hospital. But if you were taken in an ambulance and ended up in an emergency room, you already know that your injuries aren’t cheap. This is because you might need specialized care, CT scans, orthopedists, special medication, and other costly forms of healthcare will begin to roll in.
Time spent away from your job
There is a good chance you will miss work if you were involved in a crash and sustained injuries. Based on the severity of the damages, you could spend a few days, weeks, months, or even never return to your work. During the treatment and recovery period, you will not be able to work. And probably when you heal enough to return to work, you will not be able to work full-time. Sometimes, you may need a few days off each week for rehabilitation.
Remember, each single day you aren’t working is a day you’re losing money – income. During these hard economic times, you can’t afford to miss a day from work, let alone weeks or months. Thus, spending some time away from work as you recover from injuries will impact you financially.
Reduced earning capacity
Even after a full recovery, your future work hours or your career might be negatively impacted by the injuries you suffered. Probably you lost intangible opportunities while you were being treated, or the injuries were so severe that even after recovery, you cannot handle your job responsibilities as before.
See legal help
The law allows victims of vehicle accidents and other accidents that result in significant damages to seek compensation. Having an experienced personal injury lawyer by your side boosts the chances of getting fair compensation.