Car accidents are traumatic, nerve-wracking, and expensive. Being involved in an auto accident can have a detrimental impact on so many different levels, and unfortunately nearly everyone will endure this awful experience at some point in their lives.
While it may be impossible to prevent the inevitable, it is possible to ease the suffering that comes with it. Considering the staggering costs of an auto accident and the fact that they are so common, it pays to be prepared.
The Odds Are Against You
In the U.S. alone, an average of 2.35 million people are injured and another 37,000 are killed in car accidents every year. Auto insurance industry estimates reveal that the average driver will file a claim once every 17.9 years, which translates to roughly 3 or 4 car accidents in your lifetime.
An accident can happen at any time. Every car accident can mean immense physical and emotional pain as well as financial losses. Hardly anyone has enough of an emergency fund to safeguard against the misfortune of a major incident, especially when it comes to something as expensive as a car crash.
A High Price to Pay
No matter how prepared you feel you might be, the full cost of a car accident can easily land anyone in financial distress. Auto accident claims average around $3,000 for vehicle repair alone and jump to almost $15,000 if there is bodily harm. This is just for immediate expenses and doesn’t even include what is left over after insurance runs out. Ongoing medical costs can reach into the hundreds of thousands of dollars within weeks, only a fraction of which is covered by most insurance policies.
This doesn’t begin to factor in the indirect costs. Most victims of a car accident need to take days, even months, off from their job to cope with the physical and mental repercussions, resulting in massive income losses. If you have been injured or disabled, this can result in a lifetime of medical bills and even ruin your ability to return to work.
While it critical and legally required to have auto insurance, the majority of plans don’t come close to compensating for the full financial blow of a car accident. Between the direct costs of vehicle repair and emergency medical services and the indirect costs of missed work, mental anguish, and long-term treatment, an auto accident can be absolutely draining.
It is really imperative to have the right vehicle accident lawyers on your side to help you get the compensation you deserve. An experienced legal team will fight to get you the money you need for covering all immediate costs as well as those that might arise down the road.
The chances of being in a car crash are just too high to take any risks. When you are involved in an auto accident, the aftermath can leave a lasting impact on your life. The best way to minimize the damage and equip yourself for moving forward is to consult with legal experts. Even the most comprehensive insurance plans will only go so far. Protect yourself and your family by securing the right expertise to guide you through the entire process and to help put your life back together.