When you're involved in a car accident in Philadelphia, the costs can add up quickly. It's not just about fixing your car; there are medical bills, lost wages, and potential long-term rehabilitation costs to consider. A full car accident cost assessment requires a look beyond the obvious expenses.
However, it’s well worth doing this. Knowing about the costs you’ll face will help you prepare for them properly.
Car repair costs obviously vary widely depending on the severity of your accident. However, even seemingly minor fixes can end up costing thousands of dollars.
Common post-crash repairs include:
Of course, if your car is very badly damaged and would require very extensive repair work in order to be roadworthy again, it may be a better idea to simply replace the vehicle.
This is where car accidents can get extremely costly. If you suffer multiple serious injuries that require extensive treatment, your medical bills could easily run into hundreds of thousands of dollars, if not millions.
An initial visit to the emergency room could cost as much as $3,000, depending on the severity of your injuries and the tests required. From there, your doctor might order an X-ray, CT scan, or MRI, or immediate treatment like stitches or a splint. These will all add to your bill.
If your injuries are more severe and you require surgery, costs can skyrocket. A simple outpatient procedure might cost between $5,000 and $10,000, while more complex surgeries can easily exceed $20,000. A ride to the hospital in an ambulance can cost anywhere from $500 to $2,000, depending on your location and the level of care needed during transport.
You’re also likely to need to fill a prescription after you leave the hospital, and some prescription drugs can cost hundreds of dollars for a monthly supply.
If you've suffered serious injuries like severe bone fractures, spinal damage, or traumatic brain injuries, your recovery could span years, or the rest of your life. Physical therapy, a common necessity for accident victims, can cost anywhere from $50 to $200 per session.
Chronic pain management is another common long-term expense. Visits to pain specialists, medication, and procedures like nerve blocks or injections can cost hundreds, if not thousands, per month.
Some injuries, like head trauma or spinal injuries, may require long-term care or specialized equipment, such as wheelchairs or home modifications.
If your injuries prevent you from returning to work right away, the financial impact of the earnings you lose may be as bad as, or worse than, your medical bills. According to a study by the National Institutes of Health, American employees spend a per-person average of 11 days out of work every year because of preventable injuries.
For jobs that require physical labor, even a minor injury can mean weeks or months without work. Of course, the same injury might be far less problematic if you have a desk job.
It’s worth noting that if your car accident came about while you were at work, you may be entitled to receive workers’ compensation. The mandatory insurance scheme steps in to compensate workers who have been injured on the job, replacing a portion of their income while they’re unable to work. It will also cover medical expenses up to a certain point.
However, unlike a personal injury lawsuit, it will not provide compensation for noneconomic damages like pain and suffering. Additionally, if you successfully claim for workers’ compensation, you will probably be barred from pursuing a personal injury lawsuit against your employer.
If you’re not sure how these rules are likely to affect you, you should discuss the situation with your lawyer.
Out-of-pocket expenses aren’t always covered by insurance and can come directly out of your own pocket, adding to the financial strain of an accident. Common out-of-pocket expenses include:
Car accidents can lead to increased insurance premiums, and the extent of the increase often depends on who is at fault. If you’re found to be at fault for the accident, you’re more likely to see a significant hike in your rates. For example, your premium could go up by 20% to 50%, depending on your insurer, your driving history, and the severity of the accident. Some insurers might even impose surcharges that stay on your record for three to five years, leading to thousands of dollars in additional costs over time.
Even if you’re not at fault, your insurance premiums could still rise. While it might seem unfair, some insurers may increase rates after any accident, claiming that being involved in a crash—regardless of fault—makes you statistically more likely to have another in the future. However, these increases are typically smaller, usually ranging from 5% to 10%.
It's important to shop around for insurance after an accident to find the best rates and consider switching providers if your premiums increase significantly. You should also mention to your existing insurer that you’re considering finding a new provider, as many agents will offer you a better deal to try to keep your business.
The car accident lawyers with The Cochran Firm in Philadelphia work on a contingency fee basis, meaning you don’t pay any upfront costs. We only get paid if we win your case or secure a settlement on your behalf. Typically, our fee is a percentage of the settlement amount, often ranging from 25% to 40%, depending on the complexity of your case and the stage at which it is resolved. This arrangement means that we’re motivated to get you the highest compensation possible, and that you don’t have to worry about legal bills adding to your financial stress.
We also offer free initial consultations, so you can visit us to learn whether you have a viable case on your hands without worrying about spending money you can’t afford.
You might be tempted to pursue a car accident case without hiring a lawyer in order to save money. While this is possible, it’s generally a bad idea. The legal process is highly complex, and trying to tackle it alone will likely lead you to make costly mistakes. A skilled personal injury lawyer will know how to negotiate with insurance companies on your behalf and fight for a settlement that reflects the full value of your losses.
By hiring a lawyer, you also gain access to a network of experts who can help build your case, including accident reconstruction specialists, medical professionals, and financial analysts. These experts can provide the necessary evidence to support your claim, which might be difficult or costly to obtain on your own.
Maximizing your compensation after a car accident involves understanding the claim process and taking strategic steps to strengthen your case. Here are some essential tips:
Car accidents can have life-changing financial consequences. In order to secure your future after an expensive incident like this, you need to know what you’re dealing with from the very beginning.
Our Philadelphia car accident attorneys can help you understand the various costs that will arise, and estimate what they’re likely to amount to. Armed with this knowledge, you’ll be able to make informed decisions when it comes to filing insurance claims and lawsuits.
Contact us today to schedule a free initial consultation. You can reach us over the phone at 800-969-4400 or fill out our online contact form.
