Financial Costs Associated With Injury Recovery
Statistics provided by the National Highway Traffic Safety Administration demonstrate that there were over nine-million police reported motor vehicle crashes throughout the United States in 2010. The medical expenses and loss of productivity associated with these accidents cost the economy over $99 billion.
These numbers give us a general idea on how much an individual automobile accident may cost. With outrageous property damage costs, loss of wages, and potential medical and funeral expenses, our insurance agencies will often fail to provide the total amount of compensation we require for our losses.
At The Edwards Law Firm, our auto accident attorneys have great sympathy for those injured in automobile accidents, especially those who have been injured due to the negligent actions of another individual. Therefore, our attorneys will work tirelessly to obtain the maximum compensation benefits for your losses and damages.
To learn more, complete our Free Case Review form on this page Its 100% free.
Average Financial Costs of Car Accidents
In order to properly calculate the financial costs of an injury, we must calculate the wage, productivity losses, medical expenses, administrative expenses, and property damage, just to name a few. When these figures were combined, it gives us the average cost for accidents per death, injury, and property damage. These average costs include:
- Death - $1,410,000.00
- Disabling Injury - $70,200.00
- Property Damage - $8,900.00
As these are the average financial costs associated with an injury, there are several types of compensation benefits available following an accident.
Types Auto Accident Compensation Benefits
In many cases, people are under the false assumption that they do not have enough money to afford an attorney. At our law firm all of our attorneys operate on a contingency fee basis, which means that we will not charge you for any of our services unless a winning verdict or settlement is made and you recover for your losses and damages.
By recognizing that our attorneys do operate on a contingency fee basis, we would like to explain the different types of compensation benefits which may be available. The benefits which an individual may receive are directly related to the outcome of the accident and the amount of occurring losses to the injured individual.
Some types of auto accident compensation benefits include:
- Current Medical Expenses
- Funeral Expenses
- Future Medical Expenses
- Hospital Expenses
- Loss of Consortium
- Loss of Current Wages
- Loss of Enjoyment of Life
- Loss of Future Wages
- Mental Anguish
- Mental Impairments
- Pain and Suffering
- Physical Impairments
- Rehabilitation Costs
- Special Equipment
- Therapeutic Costs
- Wrongful Death
Following an automobile accident, it is advised to seek medical attention to take care of any potential injuries that may have occurred. This medical treatment will also provide you with medical documentation that can be used by our attorneys to develop a case against the negligent actions of another individual or entity.
The Settlement Process
At the instant an automobile accident occurs, the settlement process begins. At this point, various information will be collected by the auto accident victims. This information must be present at the time the claim is submitted. It will also assist attorneys in developing a robust case against any negligent and injury causing individuals.
Some documents included in the settlement process include:
- Details of the auto accident
- Photographs and videos of the auto accident scene
- Police reports
- Witness statements
- Medical documentations of injuries
- Documented treatment of injuries
- Supporting evidence of any lost income
- Supporting evidence of any emotional trauma or pain and suffering
- Documentation of any financial loss from the accident
At this point, this information needs to be submitted to an insurance agent in a settlement compensation package, and the settlement negotiations will begin. In some cases, an insurance agent will write a check for the injury costs and property damages however this is often times inadequate. If this is the case, you may be entitled to file a lawsuit against the negligent party.
Contact Our Oklahoma Car Accident Attorneys Today
With offices based in Oklahoma, Texas, and Arkansas, The Edwards Law Firm is prepared to help you. We have over 50 years of combined legal experience, along with the tools and resources to handle you specific auto accident injury litigation. With over $100 million in successful verdicts and settlements, our attorneys have the skills and determination to obtain the maximum compensation benefits you deserve.
Some of the Oklahoma areas we serve include:
- Broken Arrow
- Oklahoma City
To learn more about our law firm, we welcome you to contact us today at 1-800-304-9246. At this time a member of our intake team will collect information about your case and guide you in the right direction.
Find out more by completing the Free Case Review form on this page Its so simple.