Car crashes can be so expensive that they push someone into bankruptcy, or they may only cause minor damage to a vehicle’s paint. There is a massive spectrum of possible consequences when motor vehicles collide.
Everything from the model of the different vehicles involved to the speed each vehicle travels prior to the wreck will influence what happens in a collision and how significant the consequences are for the people involved.
Whether you are about to respond to an initial settlement offer from an insurance adjuster or you want to evaluate whether your circumstances justify a lawsuit, figuring out what the crash has cost you is an important starting point. Taking a thorough look at the two main categories of damages can help you decide the best way to pursue compensation in your case.
Property damage losses
You may need to fix your vehicle following a collision. The model of your vehicle and the availability of replacement parts will influence what it costs to get your vehicle back into the same condition it was in prior to the wreck.
In some scenarios, such as situations involving damage to the frame of the vehicle, the insurance company may declare the vehicle a total loss. At that point, you will have to use the compensation provided by the insurance company to purchase a new vehicle. Even if you repair the vehicle, you have to consider the diminished value of the vehicle if you resell it later.
You could also have secondary property damage costs if the crash damaged your computer, cracked your phone or ruined a designer suit. Determining the full replacement cost of the property damaged or destroyed in the crash will help you negotiate a property damage settlement.
Bodily injury losses
Bodily injury expenses could be substantially higher than property damage losses. An ambulance ride to the hospital or an overnight stay for observation could cost you hundreds if not thousands of dollars.
The immediate medical care you need won’t be the only bodily injury expenses you have. You also have to consider future medical costs and what impact your injuries may have on your earning potential.
When you look at not just your current unpaid crash-related bills but also the future expenses you will have to cover, you may eventually realize that the insurance policy of the other driver is insufficient. Civil litigation can be an option for those hurt by unsafe drivers with inadequate insurance coverage.
Putting an accurate price on the consequences of a car crash can help you determine the best means of securing compensation for your losses.