Despite our best efforts, it is not possible to live in a world that is completely accident-free. If an accident occurs, there are financial costs. The costs come in several forms, some direct and some indirect. Some post-accident expenses are one-time while others are longer term.

Frequently, the guilty party is not the person who bears the brunt of the financial burden. Ergo, understanding all of the likely post-accident costs is critical in order to make the correct and most comprehensive claim. Working with an accident attorney will certainly help you identify all the different and complex angles that you need to consider.

Here you can see the main types of costs after a motor vehicle accident.

1. Health care costs

Healthcare costs are the most immediate and important expenses incurred after a car accident. These costs include on-site emergency stabilization procedures, ambulance trips, medical tests, image scans, emergency treatments, surgery, medication, medical equipment, doctor visits, follow-up appointments, physical therapy, and medical surveillance.

You also need to deal with the intangible health problems such as the psychological trauma resulting from the accident. This may require advice and therapy in the medium to long term.

2. Repair of personal property

If you’re in a car accident, your car has likely suffered significant damage. The damage from a motor vehicle accident ranges from minor dents from a fender bender to extensive damage that puts an overall strain on the car because it is too expensive to repair. Regardless of the extent of the damage, you will have to spend money to repair the car or buy another one.

Your car isn’t the only personal property that can be destroyed in a car accident. Depending on the location and type of the accident, it could damage your fence, garage door, landscaping on your lawn, gardening tools in your yard, or an item that was in your car at the time of the accident.

3. Legal Fees

If you hire a lawyer to oversee your application process, it will cost you. Some attorneys do not charge a fee until the claim is won. Others require you to pay up front so they can start the process.

Overall, how much you pay the attorney depends on a number of factors including the type of case, the profile of the person or institution from whom you are seeking compensation, the length of the litigation, and the attorney’s experience.

4. Loss of employment and wages

Employers are expected to take reasonable steps to accommodate the changed physical circumstances of a recently injured worker. Of course, the employer is not obliged to keep you on their payroll permanently.

In more serious accidents, the extent of the injury can make it impossible for you to make a meaningful contribution in any role in your existing workplace. The resulting job loss leads to a huge disruption of your personal income.

5. Cost of career change

Your current employer could transfer you to another role within the company if your injury makes it difficult to carry out your previous appointment effectively. This could mean a radical Shift in your career path.

You have to learn the nuts and bolts of the new role. This may require you to enroll in a professional course or pursue a new degree. All of this is an expense that you would not otherwise have had without the accident.

6. Rising premiums

Auto insurances do not charge the same premium from all customers. Like bank loan interest rates, insurance premiums are based in part on the customer’s risk profile. The better your driving record, the better your chances of getting a great deal. The number of accidents you have been involved in is considered a measure of your ability and diligence as a driver.

No insurer would dare to offer a cheap rate to someone involved in a dozen accidents a year. After an accident, and depending on the laws of the state in which you are a resident, your premiums could increase significantly.

Many people greatly underestimate the cost of a car accident. Even a small motor vehicle accident in which all parties run away unscathed can result in high financial costs that are far higher than anticipated by all parties. The better you understand the likely costs that this entails, the better your chances are of passing those costs on to the insurer and the culpable party.