There you are, innocently driving through an intersection not far from home, heading to the gym, and most importantly, minding your own business. Then, in a flash, everything stops: Your car isn’t in the same lane it was a second ago, and people are starting to pull over or around you as you connect the dots: You’ve been in a wreck!
It does happen that fast: One second, everything’s cool, and the next, you’re wondering, “What the heck just happened?” Followed by, “Oh no. Am I hurt? Is anyone hurt?”
Depending on the severity of the wreck, your (or the other driver’s) insurance coverage, cost of repairs and potential for short- or long-term medical care, and several other factors, getting into a car accident will have financial consequences. Here are just a few to consider:
- Car repair costs: If your car gets damaged in an accident, you will likely have to pay for repairs. Of course, this is connected to fault and insurance, which is addressed below. Depending on the damage and type of car you drive, the costs could be moderate or very costly. You should also be prepared for the price of a rental or replacement vehicle while your car is in the shop.
- Medical bills: If you or one of your passengers is hurt, you might be looking at expensive medical care. Potential medical expenses after car accidents range from emergency treatment, surgery, and hospitalization if the accident is severe to medication, physical therapy, follow-up care, etc. Bills can pile up quickly, especially if severe injuries require ongoing treatment.
- Insurance rates: If you are at fault in an accident, which often takes time to determine, regardless of what the accident scene looks like, your insurance rates may go up. Insurance companies raise rates on anyone they feel is more expensive to do business with (if their risk/chances of paying a claim increase, so do your rates, in essence). Insurance companies use several factors to decide their rates, such as driving history, age of driver, gender, and address (where a person lives makes a difference with rates). The good news: In California, it is against the law for an insurance company to raise your rates due to an accident if it wasn’t your fault.
- Loss of income: If your injuries keep you from working, you will have the expense of lost wages. While your health comes first, remember that being unable to work may also lead to losing your job, putting your household income at risk.
So what are the financial consequences of getting into a car accident? The bottom line is there are many, and you need a dependable attorney who is experienced in sorting out the details, negotiating a fair settlement, and possibly representing you in court.
To minimize your expenses if you get in a wreck, keep your insurance current, drive carefully, and obey laws to maintain an excellent driving record. Then, if the worst does happen, call Eason & Tambornini to discuss your situation and secure a car accident attorney in Sacramento who knows exactly what to do.
