If you get involved in a car accident, you may have short-term costs that you want to seek compensation for from the other driver. For example, if you’re injured in an accident, you could face medical bills from the ambulance ride to the hospital or the treatment you receive in the emergency room. Even relatively minor injuries could lead to thousands of dollars in medical costs, and serious injuries could put you in lifelong debt almost immediately.
However, it’s important to remember that these immediate costs are not the only ones you’ll face. Be sure to also consider the long-term ramifications of the accident and how it may impact your financial future moving forward.
Will you need more medical care?
For instance, don’t accept a settlement offer for your immediate medical bills without considering what the future holds. You may need to attend rehabilitation or therapy sessions for years. You could have injuries so significant that you’ll require surgery in the future. Perhaps you need to take long-term medication as your body heals. You should only accept a settlement when you know it will truly cover all the medical expenses stemming from the crash.
How will it affect your ability to earn?
Another factor to consider is whether you have a reduced or diminished earning capacity. For instance, you may have had a high-paying job that you can no longer perform due to the symptoms of a traumatic brain injury (TBI). While you might be able to return to work, your limitations could require you to accept a far lower salary. If you have a disability, you may never be able to work again, meaning you’ll lose expected wages every single year.
This highlights why it’s essential to account for all costs after a serious car accident. Make sure you understand what legal steps to take.
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