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The financial cost of a car accident

Car accidents in California can stress your emotions and your health, but they can also weigh heavily on your pocketbook. Understanding the extent of financial damage that a car accident can cause might help you determine exactly how much you need to be fully-compensated. We at E and E Law Group can fight to ensure that you receive everything you deserve as you recover physically, mentally, emotionally and financially from a car accident.

Rocky Mountain Insurance Information Association states that one aspect of a car crash that is not always considered is loss of productivity. If you have to miss work because of the accident or ensuing treatment, you can lose wages or miss opportunities, such as promotions or meetings with potential clients. Medical bills, even for minor injuries, can also add up to substantial amounts. Some studies show that the total amount of productivity losses and medical costs for injured drivers can total almost $100 billion in one year.

The total claim for each accident will vary based on the damage and injuries that were sustained. Studies show that collision claims generally average around $3,144. This money usually covers the damage done to your vehicle. When physical injuries occur to the drivers or passengers, that number increases substantially. The average auto lability claim for bodily injury is just over $15,000. 

Whether you were severely injured in an auto accident or simply delayed and missed out on wages and job opportunities, you deserve to be compensated for any financial damage that was inflicted on you or your vehicle. For more information on this topic, please visit our web page.

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