Here are some of the hidden costs associated with Auto Accidents in Florida
Car accidents can change your life in the blink of an eye. In just seconds, you could go from having the best day of your life to worrying about your health, the health of the passengers in your vehicle, and the occupants of the other vehicles involved in the crash.
Getting into auto accidents in Florida can be expensive. There are the expected expenses from a car accident, including property damage and medical expenses. It may surprise you to know that there are several unexpected expenses associated with car accidents that you need to be on the lookout for.
1. The Cost of Towing
In the aftermath of a car accident in Boynton Beach, Florida, your car may be damaged to where it can no longer operate safely. You will need to contact a towing company so your vehicle can be salvaged or repaired. Getting your vehicle towed is not free. You may find yourself paying $300 or more to have your vehicle towed and stowed.
Most towing companies will charge a hookup fee which is the base fee for the tow. From there they could charge a per-mile fee. While Florida has some laws in place that impact the maximum you can be charged for a tow in certain circumstances, it is easy for these expenses to get out of control.
There is a lot of commotion in the aftermath of an auto accident. If you are dealing with injuries and other complications, you could even lose track of how long your car is in the towing company’s lot. You may be stuck paying the towing yard hundreds of dollars.
If you can communicate with the tow truck driver at the scene of the accident, you might ask them to tow your vehicle to a specific location. This could be a repair shop, insurance company, or another safe place for your vehicle. This can help minimize the expense by eliminating the daily storage fee from the tow yard.
2. Increased Insurance Rates
Florida requires drivers to have a minimum of $10,000 in PDL and $10,000 in PIP insurance. There are additional insurance types for vehicles that service taxis and transport vehicles.
According to Florida Statute § 626.9541, if you are involved in an accident and are not substantially at fault, your insurance rates should not rise. However, if the insurer determines in good faith that you were substantially at fault, then they can raise your insurance.
There is some discussion about what “substantially at fault” means. Most infer that substantially at fault means that you are at least 51 percent at fault. If that is the case, how much should you expect your insurance premiums to go up?
Insurance companies are guided by a list of steps called a surcharge schedule. This is the schedule that insurance agents use to evaluate the factors that can affect your insurance premium rates. Most US insurers use the standards of the Insurance Services Office when calculating rates. This means that after an accident, your base rate will only increase between 20 and 40 percent. According to one source, Floridians on average spend $2,364 annually for full coverage insurance and $1,100 annually for minimal coverage auto insurance. An increase of between 20 and 40 percent could mean spending hundreds of dollars more a year on insurance if an accident was your fault.
3. Cost of Death from Motor Vehicle Accidents
Obviously, the biggest cost of motor vehicle fatalities is the loss of life. There is no amount of money that can bring a dead loved one back or truly compensate a family for their loss.
In Florida, the yearly estimate for expenses associated with motor vehicle fatalities is $3.16 billion. This is $40 million annually in medical costs and $3.12 billion in work loss costs.
You may wonder why the number of work loss costs is so high. It is because a disproportionately enormous amount, about 42 percent, of the expenses come from young people between the ages of 20 and 34 who are involved in fatal car accidents.
The work loss costs calculated here reflect lost salary and benefits and the value of the work that an individual of the same age and sex of the person who died would have earned over the rest of their lifetime. Since motor vehicle deaths in Florida affect young people at a disproportionate rate, their potential to earn money is calculated for several years. When a young person dies, there is a higher work loss cost.
4. Funeral Expenses
Funeral expenses in Florida are around $6,500 and this is before factoring in the cemetery plot, grave marker, or casket. With all the necessary add-ons the price will continue to rise.
Even if you choose the less expensive option of cremation, without a viewing or ceremony, you could pay between $400 and $3,300. Caskets range from just a little over $1,000 to up to $8,000.
If you have life insurance and certain types of auto insurance, part of this expense may be covered. However, if you do not have these insurances, you may pay for these expenses out of pocket.
5. The Cost of Renting Cars after Auto Accidents in Florida
If significant damage was done to your vehicle, it might be in the shop for a long time. Or it might be completely totaled. This means you don’t have transportation. Paying to rent a car while your car is in the shop can be an unexpected expense. Depending on the size of the car and the length of the rental, you could find yourself paying between $17 and $84 a day for a car rental. Renting a car for a month could cost you hundreds of dollars.
6. Ongoing Medical Expenses From Auto Accidents in Florida
There is no way to anticipate how long it is going to take you to recover from an injury after a car accident. It might take you just a couple of days or weeks to get better.
Some accident victims have issues for years following their accident, and others never completely recover. A Florida auto accident attorney might help you get financial compensation to cover medical expenses.
Your injury may lead to lost wages or losing your job completely. If you lose your job, you might not be able to afford your house or your apartment. Now, you have the expense of moving to a new location. If you lose your job, you have the expense of trying to find another job.
Even if you are physically all right, mentally or emotionally a near-death experience can be traumatizing. It can take months or years to get over the trauma to where you feel comfortable getting behind the wheel of a vehicle. It is not uncommon for accident victims to file for bankruptcy because they can’t afford the medical expenses or cannot work and care for their families.
7. Auto Loan Repayment
If you have a loan on your vehicle, you are still responsible for paying it even if the car is totaled during a wreck. Your car may be so damaged that you can’t get enough money from the sale to repay what you owe. Some insurance companies offer gap insurance to protect people in these circumstances.
Conclusion
These are just a handful of the unforeseen expenses associated with car accidents. If you are the victim of a car accident, a Florida auto accident attorney may be able to help you evaluate your case and determine if you can seek compensation for your financial losses. Contact us at (561) 806-5229.
