After sustaining a car wreck, it can be challenging to know where to start. The first thing you need to do is receive proper medical care for your injuries and file a claim with the other party’s insurance company.
Once that is done, make sure you understand what type of compensation you are entitled to get back on the road after a car wreck as quickly as possible. Here are some secrets we have learned from personal experience about getting back on the road after a car wreck!
1) You MUST have your vehicle fixed before you can return to work. Receiving proper medical care, filing a claim, and receiving compensation are not enough if you don’t have a car that works! This will delay the healing process as well as being able to get back on track financially. The best thing for your mental health would be returning to work- having more responsibilities will reduce feelings of helplessness while waiting out the lawsuit process (or at least until money starts coming in from settlement).
2) If you are lucky enough to receive anything close to fair market value for your trade-in or insurance coverage, this might allow you to purchase another used vehicle outright without needing financing. If not, make sure any new loan terms do NOT exceed six years, and preferably three.
If you can’t afford to replace the vehicle outright, it might be time to consider a rental or lease-to-own agreement. In any case, make sure you have enough money set aside for an emergency fund in case anything goes wrong with your new car!
3) This is when life insurance would also come into play if you are interested in this type of coverage so that someone else will not need to pay off your debt should something happen while driving their car (or by other means).
If needed, contact a good personal injury lawyer like Brach Eichler Injury Lawyers who can guide you through the claim filing process so that you can receive compensation that you deserve. They’ll help determine what’s best depending on how much coverage you already have and what monthly payments work for your budget right now. If you keep these points in mind, you can easily get back on the road after suffering from a car wreck.