The damages involved in a car accident can be significant. It is no wonder Florida’s no-fault laws require car drivers to carry a minimum of $10,000 worth of personal injury protection. The problem is that we do not always realize the extent of the damages until it is too late. They can far exceed what the insurance will cover. If you suffered injuries from a car accident, you might want to pursue a personal injury lawsuit. However, you should understand the hidden costs and damages in a car accident to maximize the settlement.
The financial costs
The vehicle repairs could be more extensive than you initially realized. You may have suffered physical injuries that take longer to manifest. Here are other financial expenses you should consider:
- Income loss
- Medical expenses and medication
- Rehabilitative costs
- Vehicle damage
- Property damage
- Traffic fines
- Increase in insurance premiums
- Additional and unexpected car repairs
- Towing services
- Vehicle rentals or temporary transportation fees
It is not enough to account for the immediate damages. You must be aware of how the accident will change your daily life. When you cannot work or physically care for your family, you might even need to hire help. Sometimes, the damages are not only financial.
The emotional costs
After a car accident, a person can have difficulty driving again. Serious motor accidents can result in posttraumatic stress disorder or PTSD. It could put a strain on your relationships at home and work.
A car accident can seriously affect your life. Failing to account for all the economic and noneconomic damages you incurred from the car accident might lead you to settle for less than what you need to make a full recovery.