The Financial Consequences of Los Angeles Truck Accidents

The Financial Consequences of Los Angeles Truck AccidentsMost people only think about the physical consequences that individuals suffer after being involved in truck accidents, but the harsh reality is that many of these victims often experience large financial burdens that affect them and their families for many years to come.

As a result, these victims may go bankrupt, think that they need to take out a loan to cover their expenses, or become extremely stressed and overwhelmed. However, all they need to do is consult with a Los Angeles truck accident attorney who will help them pursue the compensation that will cover their financial losses from the truck accident.

The types of financial consequences that emerge from a truck accident

When a person is involved in a truck accident that was not their fault, they may feel confused and hopeless about what to do or where to turn. Their losses are likely life-changing and permanent, which can add up in costs over time. Here are several of the different types of financial consequences that may emerge from a truck accident:

  • Medical expenses: Semi-trucks are very large and heavy, giving them the ability to physically damage and impair the human body. For example, these trucks may crush, break, and fracture bones and limbs within seconds. This can cause medical bills to accumulate as the victim may need to visit the emergency room, undergo multiple surgeries, learn to use new medical devices, stay several nights in the hospital, and more. Even if the victim has health insurance, it is not a guarantee that the insurance provider will cover the entire cost of the medical bills, which can lead to the victim paying for out-of-pocket expenses.
  • Lost income: When a person has been struck by an 18-wheeler, they will likely spend several weeks, months, or even years out of work. This may be ordered by their doctor to ensure that they have the appropriate time to heal from their injuries. As a result, the individual may lose the income that they would have been receiving if they were working. In addition, they may realize that they may never be able to do the job that they did before the accident, which could lead to loss of employment.
  • Property damage: If an individual was driving a passenger vehicle or motorcycle when they were hit by a big rig, there was most likely a significant amount of property damage to the smaller vehicle. This can cause huge financial consequences because the victim may need money to pay a mechanic to fix their vehicle. If the damage is unrepairable, they will need to replace or buy a new vehicle. This can cost several thousands of dollars, which can be one of the largest expenses that a truck accident victim may experience.
  • Rehabilitation and recovery costs: People who are involved in truck accidents often experience long rehabilitation and recovery processes. This is because they may have crushed bones, amputations, paralysis, spinal cord injuries, traumatic brain injuries, and other serious injuries from the crash. As a result, it will take them a very long time to learn how to adapt to their new life and get it back on track. Their doctor will most likely require these individuals to participate in rehabilitation and physical therapy programs that will teach them how to get back to a sense of normalcy, which can quickly lead to rehabilitation and recovery costs piling up in the victims’ names.
  • Counseling and psychological fees: Another financial consequence that truck accident victims experience are counseling and psychological fees. The reason for this is because these victims suffer mental and emotional trauma and distress, requiring them to see a counselor or psychologist to help them process their emotions and feelings. A licensed counselor or psychologist can get help with victims’ stress, frustrations, PTSD, and other mental health effects from the accident.
  • Renovation and home modification expenses: When a person is struck by a tractor trailer, the damage to their body can be significant. This can cause them to need a wheelchair, prosthetics, casts, crutches, or other medical devices for the foreseeable future. As a result, they may need renovations and modifications done to their home to help them get around easier. However, these costs can add up over time. Some examples of home renovations and modifications that truck accident victims commonly need are wheelchair ramps and handrails installed, counters lowered, doors and hallways widened, and more.
  • Hired services and living adjustments: Victims of truck accidents may need to hire certain services to care for them throughout the day and help them carry out their daily duties. One of the most important services that these victims usually need is occupational therapy, which assists them with learning how to independently cook, get dressed, shower, and more. Their family members may be unable to stay with them every hour of the day, making these services essential.
  • Putting off or inability to make payments: Many think that the financial consequences of a truck accident only consist of the direct effects caused by the accident. However, this type of accident can lead to a long list of bills going unpaid, which can cause the victim to go into debt. For example, they may get behind on rent or utility bills, child support payments, college class fees, daycare expenses, and more. When this happens, the late fees and bills continue to accumulate, causing a financial disaster for these individuals.

Truck accidents are one of the most tragic, devastating, and costly accidents that a person can face. Therefore, you must hire a Los Angeles truck accident lawyer to remain by your side and ensure that you receive the fair compensation amount that you deserve. Our truck accident attorneys at McNicholas & McNicholas, LLP are experienced, skilled, and knowledgeable when it comes to determining what your case is worth, and we will do everything in our power to make sure that you never receive less than that amount. Call our office or submit our contact form to schedule a free consultation today.