A car accident is an event that may alter your life in a second. In addition to the shock and trauma caused by the car accident, you are now left with many expenses and difficult decisions on your hands. Among the most critical decisions you will have to make is whether to agree to the settlement offer made by the insurance company. You might be tempted to accept the money and just walk away, but think about the long-term effects of such a decision.
Consider hiring a car accident attorney and discussing your case before you sign any settlement agreement. A good lawyer can help you in the insurance claims process and save you from missing out on things that may seem insignificant but really aren’t. They can also help in calculating the true cost of your accident, including future expenses that you might not think about. With their advice, you will be able to make a decision that protects your financial future.
Medical Expenses Beyond the Initial Treatment
When you are in the process of recovering from a car accident, your thoughts are likely only on your medical bills. However, many injuries have long-term implications that require ongoing treatment. Consider these future medical expenses that might play into your claim before you take a settlement.
- Follow-up appointments: You might need regular checkups to monitor your recovery.
- Physical therapy: Many particular injuries require months or even years of physical therapy in order to regain full function.
- Medication: Long-term medication may be required due to chronic pain or other long-lasting side effects.
- Future surgeries: A few injuries will require surgeries in the future as well.
- Mental Treatment: The impact on the mind after an accident could be substantial, to the point where one could even require therapy.
It is essential to get yourself thoroughly checked by a doctor to understand the long-term effects that could occur and then settle the claim.
Lost Wages and Future Earning Capacity
Your injuries can further affect not only your current ability to work but also your future earning potential. The following should be reviewed when considering a settlement offer:
- Spend more time off work: Your recovery might take longer than you first thought.
- Reduced working hours: You may no longer be able to work full-time or you may need to work part-time and have frequent breaks due to your injuries.
- Career changes: Your injuries might be so severe that you no longer have an option but to change careers. Such a change may further affect your earning capacity.
- Lost Promotions or Job Opportunities: If you are out of work for too long, you will miss an opportunity for promotion.
An experienced attorney will guide you in calculating such potential losses and ensure that they get incorporated into your settlement.
Changes to Your Vehicle
Depending on how bad your injuries are, you may need to change your living situation or your transportation. Think about these expenses that might arise in your life:
- Special equipment: You may require special wheel chair lifts for your vehicle, a hospital bed, or other equipment.
- Vehicle modifications: You might have to install hand controls, wheelchair lifts, or some other alterations in your vehicle.
All these adjustments can be costly and hence should not be overlooked while computing the amount of compensation.
Ongoing Pain and Suffering
While it is impossible to put a price on pain and suffering, it is actually one of the most important factors. Consider the following:
- Chronic pain: Years and even decades of pain are too common for a lot of accident victims, and it makes their lives very miserable.
- Emotional problems: Anxiety, depression, or even PTSD from the accident can persist for a very long time.
- Loss of enjoyment: Serious injuries take away the ability to participate in activities one used to enjoy.
An attorney can help in assigning a cost to such non-economic damages and ensure a proper presentation in your settlement.
Conclusion
A car accident settlement is a huge decision that has implications for the rest of your life. While this offer might be enticing to take and thus put a close to the accident once and for all, all future expenses have to be considered prior to settling for a given amount.
Knowing this in advance and finding an accomplished car accident attorney will help ensure that your settlement actually covers all of the losses.
