Car accidents are frightening and traumatic events that cause significant physical injuries, stress, and potentially long-term health challenges. While a car accident can affect a person’s health and emotional well-being, it can also impact their financial stability, causing hardships and a significant economic burden.
At Kreger Brodish LLP, our car accident attorneys understand the various ways a car accident can impact an individual and their family. We take a focused and proactive approach to helping accident victims pursue the compensation they deserve, factoring in the physical, mental, and economic fallout of a Durham or Greensboro car accident.
After you’ve been hurt in an accident, talk to an experienced car accident lawyer about your situation and how they can help you pursue meaningful compensation for your injuries in a car accident claim. An accident caused by a careless motorist should not put you into a financial downward spiral. Let us help. Contact our office to arrange a free case evaluation to determine if a car accident lawsuit is in your best interest.
Direct Financial Costs After a Car Accident
Following a collision, an accident victim can incur numerous direct financial costs. Some expenses are apparent, while others may come as a surprise.
- Medical expenses – A person’s immediate medical expenses are the first direct financial costs associated with motor vehicle accidents. These can include fees for an ER visit, doctor’s visits, hospital stay, diagnostic tests, surgery, physical therapy, durable medical goods, and prescription medications. Medical expenses are one of the most significant financial burdens that individuals face after a crash.
- Lost wages – If you’ve sustained a serious injury in a car crash, chances are you will be missing work for the foreseeable future as you work towards recovering from your injuries. For many people, that means lost wages and lost income.
- Car repair – A car accident doesn’t just put you out of commission. It also takes your car out of commission. As the price of vehicles and sophisticated car parts, repair, and labor increases, so do the costs associated with repairing or replacing your vehicle.
Long-Term Economic Effects
Immediate medical care and other expenses are not the only things accident victims need to worry about. Medical complications or long-term health issues can require extensive or future medical care, including rehabilitation, in-home assistance, follow-up visits, or assistive devices like a wheelchair or prosthetics. Some individuals with significant injuries, such as traumatic brain injuries or paralysis, may require lifelong medical care and treatments, which can be costly and cause financial hardship.
Another potential long-term economic side-effect of a car accident can involve the loss of a person’s earning capacity. Traumatic injuries can prevent a person from returning to work in the same capacity as before the accident, leading to a lower income or income potential. Severe car accident injuries can prevent a person from ever returning to the workplace, meaning they have no way to earn an income for themselves or support their family.
Hidden Costs That Are Often Overlooked
Medical expenses, lost wages, and lost income are typical of a Durham or Greensboro car accident. Unfortunately, several hidden costs associated with collisions can come as a surprise to accident victims. Some of these hidden costs can include:
- Mental health services – Although these fall into the medical bills category, many people don’t realize the mental health toll that an accident can take on a victim. Counseling and mental health services can put an additional financial burden on victims who need extra support and help during this challenging time, especially if they have post-traumatic stress disorder, depression, or anxiety triggered by the accident or coping with a significant physical injury.
- Property damage – You may know that you can seek compensation for the damage to your vehicle, but what about your other personal property? What about the cost of the car seat, which was cracked in the collision, or items lost or destroyed on impact? You can demand money for those losses, too.
- Transportation – If your vehicle is in the shop for repairs, how will you get back and forth to your medical appointments? Transportation is another hidden cost many people don’t think about until they stare at the bill from a rental car company or weekly receipts from a ride-sharing service. These are compensable expenditures.
- Increased insurance premiums – Even if you didn’t cause the accident, many car accident victims experience sticker shock when their insurance company increases premiums. Your settlement demand may include compensation for the additional premium.
- Diminished vehicle value – Your car may be fixed “good as new,” but an accident diminishes its overall value. You can seek to recapture that value in your settlement.
The Local Picture — Durham & Greensboro
Statistics show that the general cost of living in Durham is lower than both the state and national averages. Car insurance rates for Durham residents are also lower than in other areas of the state. A typical driver in Durham pays $1,887, while residents in Greensboro typically pay around $2,012.
Greensboro’s cost of living remains reasonable compared to other regions and is lower than the national average.
How a Personal Injury Lawyer Can Reduce Your Economic Burden
A personal injury attorney experienced in handling Durham and Greensboro car accidents can help you after an accident by working to reduce your economic burden and maximize compensation for your injuries. Instead of scrambling to pay your bills and keep your head above water, an attorney can protect your legal rights and outline your options for pursuing the money you need for your injuries with a personal injury claim.
From gathering and preserving evidence to building a solid claim and aggressive negotiation tactics, a car accident attorney advocates for you from day one. You can focus on recovering from your injuries while your attorney focuses on recovering fair compensation.
Contact Our Durham and Greensboro Car Accident Attorneys for Help
At Kreger Brodish LLP, we understand the significant financial pressure Durham and Greensboro car accident victims face after a collision. How much does a car accident lawyer cost? Our legal team provides practical and personalized legal representation with no up-front cost to you. We only collect a fee if we recover fair compensation for you.
Contact our office now to request a complimentary case review and discuss your situation with our Greensboro and Durham car accident attorneys.
