The Costs of a Car Accident

The United States does not have a healthy track record when it comes to car accidents. In fact, according to CNN, when analyzed in a group of 20 affluent countries, the U.S. had the highest traffic-related death rate. The study found that an average of 19 car accident deaths occurred every day in the United States in 2013. While deaths are the most serious consequence of an accident, there are other ramifications that affect drivers and their passengers as well. Therefore, it is important for drivers in New Jersey to know about the peripheral expenses that may arise after an accident.

CheatSheet estimates that the average person will file an accident insurance claim about four times throughout his or her driving years. While some experience more accidents, and some experience fewer, everyone should prepared for an accident at some point. One of the most obvious expenses is vehicle repair. This may vary dramatically depending on the type of insurance coverage the driver has. Another related expense is renting a vehicle while the damaged one is being fixed. Some insurance plans may not cover a rental, so it may come as a surprise out-of-pocket expense.

Perhaps the most costly expense after a more severe accident is medical bills. While the at-fault driver may be required to cover the costs, their payment may not take place immediately. In the meantime, the victim may have to pay the medical bills and wait for a reimbursement. Injuries may also result in lost work time and income. Therefore, it is always a good idea to have a little bit of savings to cover the unexpected costs of a potential car accident.

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