Car accidents. Slips, trips and falls. Accidents at work. The first thing that springs to mind in these scenarios is pain, discomfort and potentially life-changing injuries. 

However, what many victims fail to comprehend is the financial cost and the fiscal implications that could haunt you and your bank account for months or even years to come after an accident. Most of us are walking a financial tightrope right now, we can’t afford anything that will disrupt the delicate, monetary balance we have going on. But when you’re caught up in an accident that wasn’t your fault and was caused by the negligent actions of someone else, you have no choice. 

If you’ve had an accident, reach out to a Fort Lee PI law firm for more info. 

Here we’ll examine how an accident that wasn’t your fault can cost you, not just physically and emotionally but financially as well.

Your medical bills

Will your medical insurance cover you fully in the event of a serious accident? Even a ride in the back of an ambulance can cost you, and that’s just the beginning. If your injuries are serious, then you could be looking at overnight stays, x-rays, medications, specialists, treatments – it won’t take much for costs to spiral out of control. And it might not stop there, if your injuries require you to have additional treatment in the future, such as physio and other therapies, then the costs could be constantly running into the thousands. Could you really keep up the costs?

If you’re going to pursue compensation, always retain and keep any medical bills and receipts. 

Time off work

Whether your injuries are minor or serious, you’re probably going to need to take time off work to recover and recuperate. Time in the hospital, time recovering at home, time building your strength back up – time off work quickly adds up, which means you’re going to be missing out on those much-needed hours. Not forgetting the time off work you’ll need for attending future appointments. If you’re struggling to work, then how can you possibly support yourself and your family? It’s not unheard of for accident victims to find themselves plunged into a downward spiral of debt.

You could no longer have a job

If your injuries render you unable to do your job, then you could be out of a job entirely. If you lose a limb or suffer a head injury it may not be safe for you to operate machinery or even be in front of a computer screen for extended periods. If you lose your livelihood then how can you earn a living?

Loss of a partner

If your partner has been injured in an accident or even killed, and you were both contributing to the household finances, then the impact could be devastating. Such a damaging impact on your finances can be difficult to recover from, especially if your partner is no longer alive. 

Final thoughts…

If you’ve been in an accident that wasn’t your fault, reach out to a personal injury lawyer for more information.