After a car accident, there are a couple of things that you’ll need to take care of. Having finances saved can be essential for ensuring that you can cover everything. However, your car and health insurance may also be able to help pay for these necessities, taking some of the burdens off your shoulders.
To help put all of these finances in perspective, here is what you need to know.
1. Hiring a Personal Injury Lawyer
When you’re in a car accident, you may need to hire a personal injury lawyer after the fact. This can be important, even if you weren’t in your car at the time. In 2012, over 4,700 pedestrians were killed and more than 76,000 were injured due to traffic accidents.
If you’re injured in or out of your car by a vehicle, having a personal injury lawyer can be immensely helpful. Not only can they help you when it comes to saving money, but they can help ensure that you get the settlement that you deserve.
2. Fixing or Buying a New Vehicle
If you’re involved in a traffic accident with your own vehicle, depending on the damage, you’ll need to have the finances to either fix your car or purchase a replacement. If the damage to your car is extensive, you may also need to rent a car while yours is being replaced.
In some instances, your insurance may cover the cost of a rental vehicle, or they may provide you with a vehicle while yours is being fixed. Be sure to always know what benefits your insurance offers beforehand so that you won’t be blindsided if an accident happens.
3. Doctor’s Visits
After a car accident, there is also the possibility that you’ll need to pay for multiple doctor visits, depending on how bad the accident was. While your insurance may cover some of the cost, it’s important to plan ahead to ensure that you can get the treatment you need.
For instance, while being treated for your car accident injuries, your doctor may find other abnormalities that have previously been undetected, such as skin lesions. While over 500 million lesions have been treated using cryo devices, if you haven’t saved finances beforehand, you may be blindsided by the additional costs.
4. Pain Medications
Along with treatments for injuries, you will also need finances to pay for any pain meds that may be needed. While health insurance may cover some medications, in some cases it may not. This is also a good example of why you should always be aware of what your insurance covers before anything happens. That way you can know what you need to save money for, just in case.
If you’re looking for an alternative to pain medications, or if they are too expensive and your insurance won’t cover them, legal cannabis is something to consider, and it can be less expensive than some medications. 85% of all legal cannabis is used to treat pain, and it has often been prescribed for chronic conditions. In some instances, car accidents can cause chronic pain problems, making this an option to consider and discuss with your doctor.
5. Car Insurance Premium Increase
After an accident, your car insurance premiums will also usually increase, meaning that you’ll have to pay more per month for coverage. This, coupled with the costs of repair and medical treatment, can really take a toll on your finances.
By saving up beforehand, you can help ensure that you have a cushion to help protect you from these increased costs.
Saving up extra money in case of a traffic accident can be one of the best things to help ensure that you’re not left struggling after the fact. Along with this, you should always be aware of what your car and medical insurance will cover. While you’ll hopefully never need it, it’s better to be prepared now and never need to use it than to be left grappling with the consequences of being unprepared.
