It is evident that major car collisions can lead to serious injuries that may have a life-changing impact. Apart from the suffering and loss of quality of life, such injuries can result in extensive financial damages as well. The good thing, however, is that you are legally entitled to claim compensation for all the damages sustained if the accident is caused by someone else’s negligence. But everything boils down to awareness- you need to know everything about the damages you can claim and how you can have the negligent driver pay up. So it becomes imperative to understand the financial implications of serious personal injuries. Let us explain to them in detail.
Clearly, your medical bills will be the biggest financial impact of a serious injury. The more severe the damage, the greater effect it will have on your financial situation. Minor injuries will not make much of a difference as you can easily spend out of pocket and claim later on. But catastrophic ones like a spinal cord injury, broken bones, or amputations often leave you with extended and expensive treatments. Apart from diagnostics, surgery, and medications, you may also require long-term rehabilitation to regain mobility or get as close to normal as possible. In such cases, you can expect your finances to go haywire and quick compensation is desirable to get proper treatment.
Time away from work
Serious injuries can lead to temporary incapacity or even lasting disability. Once again, it can have a far-reaching impact on your finances as you may have to miss work for weeks or even months depending on the severity of the condition. It is quite understandable that you will lose your wages during the recovery phase. Or you may have to switch to part-time work. Thankfully, it is possible to claim for lost wages but you need to learn more before filing a claim. A seasoned personal injury lawyer can help you cover up and get your finances back on track. You can even claim disability benefits for covering expenses such as paying someone to look after your children, clean your house, and do your laundry while you are still recovering.
Diminished earning capacity
The financial implications of serious injuries can stay even after you recover. You may no longer be physically capable of handling the demanding requirements of your previous job, which can translate into diminished earning capacity with the new job profile. Or maybe you just missed an upcoming promotion just because you suddenly had to go off work due to the accident. In such cases, you are likely to end up with a lower pay after a serious car crash, all because of your new physical limitations. Here too, an experienced attorney can help you cover such losses and ensure that you do not bear financially for a mishap that was not your fault.
The simple fact is that you will have to suffer as much financially as physically in a catastrophic accident. Apart from these losses, you may have to face expenses such as damage repair for your vehicle, loss of property, and cost of home improvement you may have to invest in to cope with disabilities. Still, you can take solace in the fact that personal injury law ensures adequate compensation, provided that you have a lawyer who is good enough.