The rising cost of health care has been well documented in recent years. You only need to turn on a TV to see how the cost of a vehicle has risen when companies advertise the sale price for their most recent models. Both of those increased expenses will impact how much a car crash costs for you and your family.
You might think it's easy to determine if a settlement offer is reasonable or to calculate how much the crash will cost you. However, just looking at your current medical bills will not give you an accurate idea of how much the collision will cost in the long run. You may have ongoing expenses for several years, if not the rest of your life.
Knowing that costs tend to continue to trickle in for a long time, insurance companies are often quick to offer what may look like generous settlements shortly after the crash. However, what they offer may only cover a fraction of your total medical costs, to say nothing of your lost wages or the cost of repairing or replacing your vehicle. While each case is unique, there are certain tactics you can employ to better estimate the overall financial impact of your crash.
Collect all of your current bills and add them up
The first step toward determining the overall cost of your crash is going to be figuring out what it has already cost you. Look at all of your medical bills and any car repair bills you have, as well as rental vehicle costs and similar expenses, such as the cost to replace other damaged personal property like your phone or computer.
Most times, you can expect that medical costs will continue to accrue for some time. Depending on your diagnosis and prognosis, you may want to double or even triple your medical expenses to come up with a figure that accurately represents what you will spend on care.
You should also look into the full cost for replacing any damaged property and calculate an estimated total for your lost wages during your recovery. In some cases, lost wages could continue for many years and even impact your retirement income as those lost months of work prevent you from saving adequately and can even affect your Social Security.
Attorneys know what crashes can cost
You may not feel like it's possible to put a reasonable and fair price tag on your injuries and the impact the crash has had on your life. Thankfully, attorneys with experience in Louisiana personal injury cases know how different circumstances can impact your life.
Working with an attorney who understands Louisiana personal injury cases is a good first step toward putting an accurate price on your injuries after a car crash.