Being involved in a car accident can be a costly thing. The cost stems not only from the damage inflicted on your vehicle, but from a myriad of other sources, many of which are too subtle to be immediately appreciated.
Let’s run through a few of the costs that you might incur after your crash, and determine how best to recoup them.
Medical Expenses
In the UK, healthcare is free at the point of use – up to a point. You’ll still need to take time away from work, and surrender the hours of your time you need to make your medical appointments. What’s more, you may be charged for parking at whatever medical facility you’re using. Then there’s the cost of medication, which can be substantial.
If you’re using a private healthcare provider, what’s more, you’ll also need to pay for the care itself. The more severe the consequences of the accident, the more care you’ll be paying for.
Lost Income and Career Impact
It’s worth breaking down the financial losses that a long-term injury can incur. In some cases, the injury might affect your ability to work and earn a living. If you’re in a physically active profession, like landscape gardening, then having to work with limited mobility might be difficult.
You might lose customers, or working hours, in the short term. But you’ll also have to make long-term compromises, which will impact your potential earnings. In some cases, you might even need to switch to a different career.
Vehicle-Related Expenses
Other costs stem from the vehicle itself, rather than the injuries you’ve suffered during the crash. If you need to drive while your old car is being repaired, then you’ll need to fork out for the cost of a hire car. The resale value of the repaired vehicle will also be impacted – even if the repair is flawless. You might also find that your insurance premium is driven up, especially if you need to make a claim. Make sure that you notify your insurer as early as possible.
Legal and Administrative Costs
If you’re going to be recovering any of these costs through the court system, you’ll need to think about the extra costs demanded by your legal representation, and by the courts themselves. Often, these costs will be accounted for by your solicitors, before they agree to act on your behalf. This way of doing things is favoured by many solicitors specialising in road traffic accidents. This will help to provide you with financial security throughout the process.
You might also need to pay to have a replacement vehicle appropriately registered so that you can drive it on public roads. It’s vital that you develop a full picture of the costs you’ve incurred before you go to court – that way, you can claim for all of the extra expenses, rather than just a portion of them.