After a motor vehicle accident, many individuals are ready to put the entire experience behind them and move on. Insurance carriers are more than willing to quickly reach a settlement and close the case. Unfortunately, it takes care and attention to come to an accurate determination of the true costs you are facing.
Insurance companies will often use a settlement calculator to determine the value of the accident and injuries. However, injuries affect different people differently, and cannot be relegated to simple numbers. One common example used to illustrate this point is a leg amputation. This injury will impact different age groups and different careers in a markedly different manner. Consider a young athlete versus a middle-aged computer programmer. The loss of a leg in a motor vehicle accident can have dramatically different impacts.
Not all insurance policies are the same, and it is not uncommon for individuals to select a policy that meets the minimum requirements but offers no additional perks or benefits. That said, there might be hidden costs associated with your vehicle accident, including:
- Vehicle rental
- Surprise car repairs
- Auto loan payments
- Towing services
Additionally, an injury might take an unexpected turn days, weeks or months after an accident. The initial settlement might not take into account factors such as:
- Lengthy hospital stays
- New symptoms
- The injury’s long-term effect on employment
- Physical therapy
- Construction or installation costs for physical accommodations at the residence
It is important to work with a skilled attorney who can carefully examine your situation and guide you through the legal process of recovering compensation after your motor vehicle accident.