Financial Costs of an Injury

//Financial Costs of an Injury

Financial Costs of an Injury

Statistics show that there were 10.8 million automobile accidents in 2009 and the total cost of medical care and productivity losses related to a motor vehicle crash injury costs was over $99 billion in 2010. If we break this number down further, that’s almost $500 for every licensed driver in the United States.  More so, every 10 seconds someone is being treated in an emergency room for a crash related injury.

In order to calculate the total financial costs of an injury related to an automobile accident, we must calculate wage and productivity losses, medical expenses, administrative expenses, automobile damage, and employer’s uninsured costs.  When we combined these figures we will find the average cost per death, injury or a crash, in 2010 these numbers were as follows:

  • Death – $1,410,000
  • Non-fatal Disabling Injury – $70,200
  • Property Damage – $8,900

If you or a loved one was involved in an automobile accident resulting in injury and need help calculating the financial cost, you are likely entitled to compensation.  Citrin Law Firm offers over 25 years of legal experience and will put that experience to work for you or your loved one.  We believe that everyone who has been injured in an accident has inalienable rights, and we are here to protect those rights.

Fill out the free case review to learn about how Citrin Law Firm can help.


Types of Settlements

If you have been injured in an automobile accident, you will know that there are two different types of automobile accident settlements.  There are settlements for injuries to yourself during an accident and settlements for damage done to your automobile. These are often referred to as personal injury claims or a bodily injury claims.

In some states there is a no-fault system which applies to auto accident injury settlements. This may result in an injured person’s insurance company paying for any medical bills or lost income.  More so, and in many cases, a person can make a claim for compensation against the driver who caused the accident, so it is always best to speak with an attorney about your situation.


Automobile Accident Settlement Process

The automobile accident settlement pre-trial process begins at the moment an accident takes place.  During this time information will be gathered that will be considered during the settlement of a claim.

Beginning at the time of the accident until a person submits their claim; a person must collect evidence documenting the causes of the accident and be able to answer how the accident has affected their life.  A few things that can help you in your claim include:

  • Details on how the accident occurred, including supporting documents, police reports, witness statements, and photos
  • Any medical records showing injuries received and how you were treated
  • Any medical bills from auto accident injury treatment
  • A statement showing any lost income resulting from the injury
  • Documents of any other financial loss from the injury
  • Evidence of any pain and suffering

Once this information is submitted to your insurance agency in a settlement compensation package, settlement negotiations will begin.  An insurance agency will then respond by staking out its original position, typically we can expect a give and take during negotiations with an insurance adjuster.  Once negotiation has been completed, you will often times receive your automobile accident settlement. Many times an insurance agency will trade a release for a check, meaning they will write you a check to compensate you for any injury or damages, if you release your rights to make further injury claims as a result of the accident.

To learn more, fill out the form on this page for your Free Case Review today.


Get Help from Citrin Law Firm

The next step is finding an experienced personal injury lawyer to help you with your case. There are several factors in pursuing a legal claim so it is worth your while to seek a lawyer to help determine a fair settlement or a winning verdict in your case.

A lawyer will not only allow you to have peace of mind that you are making the correct decision, but will also allow you to concentrate on recovery.  It is always best to work with an experienced Alabama personal injury lawyer that can guide you in the right direction and explain exactly what needs to be done.  To speak to someone about financial costs of an automobile accident injury, contact Citrin Law Firm at 251-888-8888 fill out the form to the right for your free case review today.

2014-07-31T18:47:08+00:00 July 31st, 2014|Personal Injury|

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