Being in a car collision in Hollywood, Homestead, or any South Florida community can leave you with financial worries. The family-based legal team at Flaxman Law Group hears from car accident survivors all the time who can’t sleep because of worries about their financial future.
The insidious thing about car accident costs is that you may only be seeing the tip of the iceberg. The financial challenges you face today can lead to more difficulties in the future. So, let’s take a look at the domino effect a Hollywood car accident can have on your finances—and what you can do about it:
You Face Immediate Medical Bills
In the aftermath of a Hollywood traffic collision, you may have emergency surgery or need a trip to the ER. Even with excellent medical coverage, this can be very expensive. The worst news is that this can be just the start.
You Face Loss of Work
You may need to lose days or weeks as you recover, and this is where you can really see the domino effect at work. This is because after your initial recovery, you may need to miss more work and more income due to rehabilitation, follow-up appointments, and any complications.
And you’ll lose more than income. If you’re injured when you return to work, your productivity and performance may suffer. No matter how much work you miss, you may miss out on advancement and promotion opportunities as well as training at work that can help you advance. You might not see the full impact on your career for months or years.
And if you’re permanently injured? You may not be able to continue your current career. You may need to pay for retraining and start over from the bottom in another field. Or you may need to take another job—possibly one that pays less but that accommodates your injuries.
You Face Long-Term Medical Expenses
When you’re first injured in a Hollywood car accident, you might not be able to predict long-term medical costs. You might need follow-up care, rehabilitation, and more. If you have a permanent condition, you will need to pay more for medical care for the rest of your life. You might need to replace a prosthetic, for example, or a dental bridge. And remember—with inflation, your medical costs will only go up every year.
The Incidental Costs Add Up
You may need a rental car or a nanny at home if you’re injured. These “extra” costs, whether it’s food delivery services because you’re too injured to drive or alterations to your car, can add up fast. You may not be expecting many of them and if you’re permanently injured you will face a lifetime of these costs.
Your Cost of Living Increases
If your injuries are permanent, you now have a pre-existing medical condition. Your medical care will cost more. Whenever you buy a car or move house, you may need accessibility features which are more expensive. Your insurance rates will go up after a crash. When you combine this with lowered income because you’ve lost time and opportunities at work, your financial losses may be compounding.
Protect Yourself Financially After a Hollywood Car Accident
You might not see the full financial impact of your car accident injuries for months or even years. By that time, you will have long accepted an insurance offer and will have no way to seek additional compensation to pay for your costs.
Given the fact that you may seeing the financial impact of your car crash for years and since the increases in expenses come at a time when your earnings may be declining, you will want to take steps to protect your financial future.
Discuss how to do this by speaking with a Hollywood car accident attorney fast. Just dial 866-352-9626 to speak to the team at Flaxman Law Group. We can set up a free consultation between you and a Hollywood car accident attorney on our team. Your attorney can review your eligibility for compensation and can help you understand how much your injury can really cost you—so you’re prepared to make empowering decisions about your future.