You’re right to worry about the long-term financial impact of a car accident, but you don’t have to become overly concerned. There are just a few simple tips you can use to make your financial life after a car accident much less difficult.
Behave Properly at the Accident Scene
The seeds of your long-term financial situation are often planted moments after the accident. What you say and do can come back to haunt you for years to come. How?
Watch What You Say
You could undermine your case for adequate compensation by what you say and do. For example, if the other driver is upset and apologetic about causing the accident, you may have the human urge to calm them by saying something like, “It’s okay. Don’t worry.”
The driver’s insurer could later use your words in defense that the accident wasn’t as bad as you later claimed. The insurer might say that if you were able to walk over to the other vehicle and speak consolingly to the driver, your injuries must have been minor.
Watch What You Do
You could make matters worse by refusing to go to the hospital. Often, serious injuries don’t become noticeable until hours later.
After an accident, your excitement and adrenaline could keep you from recognizing pain and soreness. Once you’ve calmed down, they could become more obvious. However, an insurance company will say it looks suspicious that you only realized you were seriously injured hours after the accident.
So, always seek medical treatment immediately. If possible, allow an ambulance to transport you to the hospital. The simple act of driving yourself there could weaken your compensation request.
Hire a Personal Injury Attorney
At first, it may seem unnecessary to get a lawyer if the other driver and the insurance company are quick to admit fault and offer compensation. But you have to remember that the other driver’s insurance company wants to pay as little as possible. The amount it’s offering is likely far from what you need to get your life back on track. You may have long-term financial impacts that need to be compensated for. If you are unable to work due to injury lost wages can lead to difficulty paying rent, credit cards and other bills.
Unfortunately, once you resist the initial offer, the insurer is likely to either bully you into accepting or ignore your counteroffers. That’s why you should use a personal injury attorney.
Lawyers who specialize in accident cases are well familiar with the tricks and tactics of insurers, so they know how to negotiate successfully. If diplomacy doesn’t work, the attorney is prepared to take the matter to court.
The settlement a competent personal injury attorney can get for you will outstrip anything you could have arranged on your own. Injury lawyers have an extra motivation to win your case. Most of them don’t ask for money up front. They agree only to get paid if they win.
Hope for the Best, Plan for the Worst
Keep a careful record of all the expenses related to the accident. For example, did the accident cost you work hours, overtime, bonuses, and promotions?
Don’t forget that your accident affects your family members as well. So, what financial impact has it had on your spouse? For example, your spouse may have had to cut back on work to care for you.
You want to factor all losses into your calculation with your attorney to determine the right compensation to demand.
If the injuries are going to be lingering, waste no time discussing with your human resources representative the steps needed to apply for disability. The time between your application filing and the first check can be a long time without income, so start the process as soon as possible.
During this time, you’ll also need to revamp your family budget. If less money is coming in, you can’t afford to continue to live as if it is. Face reality and lower your standard of living. The adjustment may be uncomfortable, but it will save you needless anxiety in the future.
