Don’t Go Broke: How to Save Money After an Auto Accident

| November 11, 2013

A car accident in Tokyo, Japan. Español: Un ac...

To add more wreckage to a bad situation, post-accident timeframes can be equally distressing.  While insurance companies decide the amount of reparation funds, courts decide who was at fault, and potential injuries need address, those in an auto accident quickly deplete funds.

How can one spend money wisely, potentially saving hundreds of dollars or more, in the wake of an auto accident?

More Insurance

No one can presage an accident; of course, when one does happen, people wish they had invested more funds in auto insurance.  Insurance is an invaluable service; but the nature of its convenience is decided by one’s degree of coverage.  Often, people purchase the most basic and limited of coverage; basic coverage costs least.

One of the best ways to save money after an accident is allocating funds toward that “if” possibility, which no person wants to consider, yet happens each day to hundreds-to-thousands of accident victim.  One cannot predict the future, but they can help protect themselves from financial accidents, purchasing more insurance.

Pre Settlement Loan

As mentioned in the introduction, the time after an accident can be just as stressful.  After laws are broken, metal is bent, and personal health possibly afflicted, cars need renting, participants seek counsel, and injuries may need address; and, it all costs. Therefore, a number of parties seek financial recovery before courts settle cases and insurances provide coverage funds.

Pre settlement loans can help you in a time of need.  Moreover, such loans provide great relief from immediate money binds, allowing those in an accident to purchase another car, address injuries, and pay for a lawyer in times of distress.

Less Rehabilitation

While one’s health is of primary importance, we can assume doctors embellish post-accident needs, suggesting some remedies such as exercise and rehabilitation to get victims back to optimal health.  While one may seek more insurance to improve a post-accident predicament, it is an option to steer clear from unnecessary expenditures like joining a gym or seeing a rehabilitation specialist.

Of course, health comes first.  In some cases, rehabilitative sessions are mandatory (such as in the case of breaking a knee), but as mentioned, sometimes physicians, erring on the side of good health, use a heavy hand in subscribing potentially unneeded post-accident therapy.

Pro Bono Lawyer

Lawyers provide essential skills, navigating clients through confusing and specialized areas of law.  However, the cost of a lawyer is aligned with specialized talents and essential aid after an accident.  Finding an experienced lawyer is preferred, but it costs.  Alternatively, some seek the counsel of newly licensed lawyers, those who need more experience but do not get many cases due to limited practice.

A burgeoning law firm or newly licensed lawyer may waive fees for the opportunity to gain experience.  Some save hundreds to thousands (depending on the logistics of the case), seeking pro bono help.

Don’t exact damage to your wallet after an auto accident.  Invest in more insurance; seek pre settlement loans; opt out of questionable rehabilitation; and, secure a lawyer willing to barter experience for a lesser rate.

Anthony Jensen has worked as a personal injury lawyer for many years. He is keen to help accident victims use the system to their advantage in times of suffering.


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Category: Car Insurance, Family Finances, Saving Money

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