No matter how careful you are, an accident can happen. And of all the challenges that come when getting into a serious accident, the financial implications can be some of the most difficult to overcome.
Some of the latest data by the Centers For Disease and Prevention reveals that accidents in the U.S. led to 29.4 million emergency room trips and 39.5 million doctor visits, and getting medical care can take a serious toll on your savings. You may not know who will pay for all the medical bills, or how you'll have enough money to live on while you can't work. What happens if an accident wipes out your emergency fund?
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It's no wonder getting into an accident can result in such a significant emotional and physical toll. So how do you get financial life back on track?
Turn To Your Insurance Company
Many of us make our insurance payments for years without having to use it, which often feels like a waste, but when you need it, you'll be thankful. Of course, exactly what your insurer can do for you depends on your particular policy, but it should cover a least part of your medical bills, for car repairs or the total value of your vehicle before it was totaled, a portion of the cost to rent a vehicle, and damages caused to anyone else involved in the accident, if you were at fault.Get Legal Help
While your insurance policy can be very valuable when it comes to lessening the financial burden, the insurance company isn't on your side. No matter how reputable, it's in business to make money. That means one of the first things you should do after getting injured in an accident is to contact a personal injury lawyer.There is no one better to have at your side to ease the stress and worry than an experienced attorney who will be able to determine the financial offsets and damage you're entitled to if the accident wasn't your fault.
Having a good attorney can help you fight the insurance company (and its team of lawyers) to get that payment as well as a hospital, physical therapy facility or a healthcare professional that may be overcharging you.
Having a good attorney can help you fight the insurance company (and its team of lawyers) to get that payment as well as a hospital, physical therapy facility or a healthcare professional that may be overcharging you.
Depending on the circumstances, your personal injury lawyer can also help ensure that you get a settlement that covers everything from your medical expenses to future loss of earnings and everything in between. As most work on a contingency basis, you won't have to pay anything until the case is settled, and even then, it will be a percentage of the settlement.
Crowdfunding
If you've tapped your savings and are truly strapped for money, you could take out a personal loan (assuming you have good credit), but that's just going to put you further into the hole. Another option for those who are struggling financially is to try crowdfunding on a platform like GoFundMe, Fundly or GoGet Funding, which offer a way to get help from the public.
Ashutosh Jha
Ashutosh Jha is a professional blogger, Blog and IT Consultant. He writes about Blogging, SEO, Making Money, Internet Marketing and Web Design.
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