TOP FIVE AUTO ACCIDENT EXPENSES:
The after cost associated with a car accident can really add up, even it’s just a fender bender. According to a recent study by the National Highway Traffic Safety Administration by the time you reach the age of 80 you likely will be in involved in three to four separate accident. Each one of those accidents will bring a big range of financial cost.
Here are the top cost you might run into after an accident:
- Increase of your insurance premium:
- This depends on the severity of the accident and who is at fault. You could be paying double of what you are now after making just one claim.
- Auto repairs:
- No matter what type of coverage you have, you may be likely to pay a deductible.
- Car Rental:
- While your car is getting repaired you’re going to need to get to work, school, and any other of your obligations. If the other party is at fault, their insurance may cover a car rental reimbursement up to a certain amount. Like before, depending on your policy, your insurance provider may than pick up the rest of your tab for your rental, but there could be caps.
- Medical Expenses:
- Florida is a no-fault state, which means that your Personal Injury Protection coverage should cover majority of your medical expenses. There are limits. Personal Injury Protection covers 80% of medical expenses up to $10,000 and 60% of lost wages. The difference is your responsibility.
- Payoff of your auto loan:
- If your vehicle is totaled, your insurance company will pay out its actual cash value, which could be less than what you still owe on your vehicle. You will still be responsible for paying the balance of your insurance payout and the total due.
To get a fair compensation for related cost after an auto accident call me an auto accident expert!
Contact The Reyes Firm at 813-421-3411
We are here for you 24/7 and have the experience to protect your interests and get you the recovery you deserve. Call us today – and above all be safe on the roads!
