16 Hidden Costs of a Car Wreck
The hidden costs of a car wreck may surprise you. It can be hard to know what to look for when it comes to totaling up all of the damages from a car accident. Our Colorado personal injury attorneys explain the hidden costs of a car wreck you need to know to get the maximum compensation for your claim:
1. Vehicle Rental
You may need to rent a vehicle to get by while your car is in the shop for repairs. Unfortunately, the cost of a rental can add up quickly and your insurance may not cover it.
2. Vehicle Titling and Registration Costs
If your vehicle is totaled, the accident may prompt you to get a new car. Of course, any time you get a new car, you have to pay for vehicle title transfers and registration costs. The costs and time involved in titling a vehicle after an accident can be a hidden cost.
3. Surprise Car Repairs
It may seem like just a minor car accident, but the vehicle may need more repairs than you expect because some damages are not immediately visible. Even cosmetic damages can require the replacement of an entire panel or vehicle component. Retouching paint can be expensive, too. You may be surprised at just how much it costs to get your vehicle back in working condition.
4. Diminished Vehicle Value
While you may be able to repair your vehicle in the shop, you still remember that it was in an accident. Even with the best repairs, your car still has an accident history. That may change the vehicle’s value and make it less attractive to potential buyers in the future.
5. Towing Service
After an accident, a vehicle may not be driveable. You may need to use a towing service to take the car for repairs. Of course, this towing service comes at a cost. The costs of towing may be a hidden expense associated with a car accident.
6. Traffic Tickets
Many traffic accidents occur because one or more parties violate a traffic law. The police may issue a traffic ticket. For most traffic tickets, the court expects the offender to pay a fine and court costs. These fines can be steep.
7. Being a Witness in Court
Even if you’re not the person who receives a traffic ticket after a crash, you may still need to go to court. If the other party contests their ticket, you may be called as a witness. You may be paid a nominal fee to be a witness, but it’s unlikely to make up for what you lose in lost work or child care expenses in order to attend court.
8. Increased Auto Insurance
Being in a car crash can cause your auto insurance rates to increase. If you’re considered at fault for the accident, your car insurance company may use the opportunity to increase your rates. You may be able to go to traffic school to address some of the points that can lead to a hike in your rates.
9. Property Damage and Lost Items
A car crash can cause more damage than just to the vehicle. There may be important items and documents in your car that suffer damage. There may even be damage to structures alongside the road. Property damage can be costly and unexpected when you’re in a car crash.
10. Auto Loan Payments
Being in a car crash doesn’t change your auto loan. Those payments that were due before are still owed after the accident. Except now, you don’t have a vehicle to drive. A hidden cost of a car accident can be having to make payments on a vehicle that you no longer have available to use. You may need to roll the balance into a new vehicle loan or otherwise make arrangements to meet your loan obligations.
11. Repair Deductibles
Even when you have excellent car insurance, you are likely to still pay some kind of deductible. The amount may be several hundred dollars or more! Even if you’re not at fault, you may need to meet your deductible before your insurance pays on a claim. This hidden cost of the deductible may be something you include if you work with a car accident attorney to claim compensation.
12. Medical Bills and Insurance Copays
Medical bills from a car accident can quickly add up. Even with health insurance, you may still have co-pays, deductibles and maximum amounts to meet. These expenses may not be immediately apparent when you’re in a crash, but they may be costly for a car crash victim.
13. Rehabilitation Costs
Medical treatment can include rehabilitation efforts and expenses. Rehabilitation can speed healing and significantly improve the quality of life for a car accident victim. These costs should not be overlooked in a calculation of the costs of a car wreck.
14. Lost Wages
A car accident can make it impossible to continue to work in a normal capacity. Even though lost wages are not a direct loss from a car accident, it can make a bad situation worse to not be able to work when you have medical bills and vehicle damage. Lost income can occur in the short term when you can’t go to work. It can also happen long-term if your career path is changed because of your injuries.
15. Mental Health Costs
A car accident can cause extensive mental health injuries. Anxiety, PTSD and depression are just a few examples of mental health injuries that can occur from a wreck. The cost to treat these injuries is a hidden cost of a car wreck. In addition, the personal loss that a person experiences because of mental health injuries is a hidden cost to their way of life.
16. Missed Opportunities and Unfulfilled Plans
A hidden cost of a car wreck is the missed opportunity and unfulfilled plans that the victim experiences. At the very least, a car wreck can make you late for work or make you miss your evening plans. In the long term, an accident can change your entire life. The personal impact of an accident can continue for years to come.
Have you been injured in a car wreck? Contact our Denver car accident lawyers to talk about your case and claim the maximum compensation available to you under the law.
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Attorney Kyle Bachus knows first-hand how difficult it can be to suddenly lose a loved one in an accident. It’s also devastating when you or a family member suffers severe injuries that forever change your lives.
Kyle wrote this book as a resource from his personal experience for families who have suffered a traumatic loss.