What Costs Could I be Compensated for After a Car Accident?

 Posted on April 15,2022 in Motor Vehicle Accidents

When an injury from a car accident disrupts your life, the costs can add up quickly. It is not just the obvious out-of-pocket expenses like the medical bills from the day of the accident and the cost of your vehicle. Often, the true cost of a car crash cannot be accurately calculated until weeks or even months later. Some car accident victims ultimately have to change career paths, require ongoing medical treatment, or otherwise suffer hidden economic losses. This is one of the reasons that accepting a settlement offer from an insurance company too quickly and without consulting an attorney can lead to you losing out on funds you were entitled to. Before you consider accepting any type of settlement, always speak with an experienced attorney who can give you a better understanding of the costs you could be compensated for.

What Financial Losses Could I Receive Compensation for if I Was Hurt in a Car Crash?

Adding up the true cost of a car accident can be difficult. There are quite a few things to consider during this process, including any future losses. After a car accident, you could be compensated for:

• Current medical costs - Any medical care you already received related to the accident should be paid for by the other driver’s insurance company.
• Future medical costs - In many cases, car accident injuries take more than one or two visits to the doctor’s office to treat. You may need physical therapy for months afterward. You may require visits from a home health aid while you are recovering. It could turn out that conservative treatments like physical therapy do not work at all and you will ultimately require surgery. It is important that your settlement or award at trial reflects the likelihood of any needs for ongoing care.
• Lost wages - Whether you stayed home from work for three days or three months, you likely lost income as a direct result of your accident. You can likely be compensated for any potential earnings you have missed out on because of your injuries.
• Lost future wages - In extreme cases, you may never be able to return to the job you had. You could be forced to change career paths if you can no longer physically perform your old job duties. Or, you could have become unable to work period. This loss in future income can be calculated and included in your settlement. This amount can be quite substantial.

This is far from a complete list of all the expenses, both financial and non-economic, that you could be compensated for after a car accident. An attorney can help you determine what you may be entitled to.

Call an Illinois Car Accident Attorney

If you were hurt in a car accident, Lucas Law may be able to recover financial compensation on your behalf. Our experienced Barrington car accident lawyers will be able to help you add up the costs of your accident. Call 847-381-8700 for a free consultation.

Source:

https://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=073500050K2-1116