Dealing with finances in every aspect of life can get really complicated. It encompasses a myriad of responsibilities that involves careful decision-making and thorough planning especially if you are paying mortgage or rent while having to still deal with your daily needs such as food and fuel. The list goes on and on. You have to make double efforts in making sure you allocate your funds and income the smartest way possible and you even have to set aside a specific amount for your short and long-term investments. However, there are times that you suddenly have to shell out some money because of emergencies like a car accident.
When you have been involved in a car accident, it is hard to grasp and stay on the ground because of the trauma that it caused. You surely have to deal with a lot on your plate, and a big chunk of it will be about dealing with the medical bills. Amidst diligent financial planning, an accident can have profound impacts that will strain your financial resources. In such roadblocks, ensuring you have a robust emergency fund proves to be very crucial at this time. This becomes your safety net providing immediate liquidity to handle sudden expenses without jeopardizing your financial stability.
Beyond immediate financial implications, the aftermath of car accidents highly demands time, patience, and expert guidance to ensure just compensation for damages incurred. For expert guidance, it is best to talk to car accident lawyers from The Wilhite Law Firm so it would be easier for you to focus and in time, recover.
One crucial task done before identifying who pays the medical bills, there is a process in determining who has liability or who is at fault in a car accident. Police reports, witness statements, physical samples, photo and video footage, and digital data are all strong pieces of evidence that you must preserve and collect. Car accident lawyers are experts in assessing the degree of fault assigned to each involved party which is objectively based on the evidence gathered. Essentially, if the other party is a hundred percent at-fault, then he and his insurer will be the one shouldering the expenses.
Even if it is a requirement specifically in Texas to have a minimum insured amount, not all drivers abide by this regulation. So, if the other driver does not have insurance, here are some of your options to have your expenses covered:
- Uninsured Motorist (UM)/Underinsured Motorist (UIM) Coverage – You can check this in your auto insurance’s policies and this is usually available when the at-fault driver’s insurance is not sufficient to cover for all expenses.
- Personal Injury Protection (PIP)/Medical Payments (MedPay) Coverage – PIP can cover for medical expenses regardless of who has more liability in the accident. Insured drivers particularly in Texas have this in their policies, unless otherwise declined in writing. Similarly, MedPay can also do the same thing. This is an optional add-on to the policy but you do have to ensure that you still have remaining coverage within the limit.
- Health Insurance – If you already have this, you can use it to cover immediate expenses. Just ensure you review the policy because this might incur co-payments or other deductibles.
- Driver’s Employer’s Insurance – Most businesses have comprehensive insurance policies and this will come in handy if the accident happened during performance of duties.
- Personal Injury Lawsuit – This is also possible because the driver at-fault might be able to cover for the medical expenses if held accountable. He or she might definitely have other assets which he can use. It is crucial to talk with your car accident attorney to further discuss filing a legal claim.
When it comes to medical bills, you surely have a lot of options especially if you have purchased insurance and if you had been responsible to have driver’s insurance. Your car accident lawyer can help you explore other avenues and further work with you should you decide to pursue legal action. Whatever it may be, partnering with a car accident attorney will sure keep the pressure off of you and pave the way for a faster recovery.
