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I can’t remember if I’ve ever written about my crazy car accident when someone darted out of a parking lot into the road I was traveling on and spun my car. It freaked me out. The other car jumped an embankment on the other side of the road and some how missed a parked car in that parking lot like the Dukes of Hazzard.
It was crazy!
Luckily, no one was significantly hurt. I’ve also been in a fender bender when I rear ended someone. Thankfully, no one was hurt and their bumper was just scratched as I wasn’t going to fast and just had to pay for cosmetic paint scuffs.
There are plenty of nasty lingering after-effects of a car accident or collision. This can include physical pain, emotional distress, and an ongoing inconvenience if your car is put out of commission. However, those woes can be exacerbated and extended by the financial costs, as well. So, what are some tips for handling the costs of a car accident? Read more below.
Put your finances in emergency mode
As soon as you are able to, you should take a close look over every aspect of your finances. Your money worries can be overwhelming, so it’s important to scale back as best as you can. This means cutting down as best as you can, establishing a budget that only includes the essentials for now, and it may even include asking friends and family if they can offer some help to cover the immediate costs. It may even include borrowing money temporarily to cover the most immediate and urgent costs, but you should make sure that you’re able to repay in advance of taking that loan.
Manage your medical bills
Document EVERYTHING. Write dates and times down, medical issues, doctors seen, doctors’ information, receipts for prescriptions and doctor visits. Keep all proof of any medical attention you needed. If medical bills are part of the equation as a result of the accident, then how you pay them can actually change how affordable that they are. Also if the accident is not your fault, you will need to speak with your insurance and possibly a lawyer about how the responsible party or their insurance will cover everything.
Right after an accident, it is important to immediately seek medical attention for your health and for your wallet. If you wait a couple days or weeks because you are sore and then later in pain, sometimes insurance will not cover this cost because there is no clear way to link this to the accident. When medical bills start showing up, make sure you check them thoroughly and understand what, exactly, you’re being billed for. Medical bill mistakes are common and costly. You may be able to get a reduction in your bills by offering to pay in cash instead of going to the insurance company, as well. There may even be some room to negotiate bills that have no errors, such as setting up a future payment plan.
Hold the responsible parties to account
If you’re not the one who was responsible for the accident in the first place, then it may be important to ensure that you’re not the one who is paying for the damages suffered, as well. Getting in touch with a team like Thomas Law Offices as soon as possible after the incident can help you put together your case and make sure that the responsible parties are held to account. This may include covering any of the financial damages caused as a result of the accident, including damage to your vehicle and medical bills. Also if the accident isn’t your fault, make sure the responsible party includes your deductible in the payments. In the above accident when the girl totalled my car, she tried to get out of paying that too.
Watch your insurance
Even in cases where you’re not at fault, you can find that your car insurance rates can rocket right up. To avoid this, inform the insurer about the accident as soon as possible, especially if someone else was the cause, and talk to them about any accident forgiveness clauses. If they don’t have one, then your best bet might be to look around for a new policy and to increase your deductible so that your premiums are a little lower.
Handling the costs of a car accident can be sooo overwhelming and expensive. With the tips above, you may at least be able to better mitigate the costs and handle them so that they don’t have an impact anywhere near as long-lasting.
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