Motor vehicle accidents often come with hidden costs above and beyond an increased insurance premium. If there is a serious injury or fatality, the costs of an accident can be immeasurable in terms of the emotional and physical suffering. Some of the most obvious “hidden costs” of a car accident are lost wages and expensive medical bills.
The AAA estimates that fatal vehicle accidents cost 6 million overall, and that each serious injury that occurs as a result of vehicle accident costs around $125,000. To arrive at these figures the AAA considered 10 costs of vehicle accidents as determined by the Federal Highway Administration:
- Property damage
- Medical expenses
- Lost earnings/wages
- Lost time/productivity at work
- Loss of household productivity due to disability
- Emergency response costs (ambulance, emergency room)
- Rehabilitation expenses
- Legal fees and expenses
- Administrative costs
- Pain and suffering and loss of quality of life
Car accidents can result in astronomical expenses, regardless of your financial situation. If you are the victim of a car accident you should not have to bear the burden of such financial strains. If someone has caused you or a loved one serious injury or death by driving negligently, you should seek professional legal advice from a qualified lawyer who can assess and evaluate your car accident claim.
An experienced personal injury lawyer can best evaluate and investigate your car accident to determine the actual cause and responsible parties involved, and seek compensation on your behalf. There are many unexpected costs that arise from car accidents, consult a car accident lawyer to find out how to best cover the costs, and, if due, receive compensation.