The Impacts Extend Beyond the Involved Parties

Whenever there is a wreck, there will be economic impacts.  Many of them are experienced by the two parties involved in the accident (read more about economic and noneconomic damages), but there are others who will feel the effect of a motorcycle accident too.  Let’s check in with the Car Crash Captain and learn about the economic impacts of a motorcycle wreck.

Economic Impacts Felt by Involved Parties

The most immediate economic impact will be felt by those going through the tragedy.  Most of these can be assigned a dollar amount, but some are much harder.  How do you put a dollar amount on learning to live without a husband, mother, or child?

• Medical Costs – Nearly every accident will have some sort of medical costs.  These can range from a simple exam, to ongoing costs that will last the rest of the victim’s life.
• Lost Wages – When you’re laid up in the hospital, you can’t work.  If you can’t work, you can’t make money.  Lost wages can be calculated simply by multiplying how much work was missed, by the victim’s salary.
• Property Damage – There will be damage to the motorcycle.  There will also be damage to the at-fault driver’s vehicle.  Damage can extend to other vehicles as well, and even roads, signs, landscaping, and buildings.
• Disability Costs – A severe accident can result in long-term disability.  The costs of remodeling a home to account for a wheelchair can be high.

Economic Impacts that Extend to Everyone

Aside from the immediate costs associated with the wreck, the economic impact may ripple throughout the community, and even into the rest of the country.

• Insurance Premiums – Insurance companies are in the business of collecting premiums.  When they have to pay out large claims, they offset that loss by raising premiums for everyone.
• Legal Expenses – Legal fees can pile up.  While most personal injury lawyers charge on a contingency basis (that means the victim doesn’t pay until the case is won or settled), those expenses still rise.  There are costs associated with running the court system as well.
• Emergency Responder Costs – Accidents require emergency personnel.  These first responders get paid, and the equipment they use is expensive.  Taxpayers pay for these things, and when more are necessary, taxes may rise.

Herbert Law Group Helps Motorcycle Accident Victims

If you’re the victim of a motorcycle accident, you’re not going to be too worried about the economic impact of your wreck.  Your first, and for now your only, concern is to heal from the injuries you’ve sustained.

That’s why Herbert Law Group is here.  We’ll take the economic worry off your shoulders.  We negotiate hard, and we fight for you.  In the end, your settlement will be the maximum that is legally allowed – and the economic impact on you should be lifted.

It all starts with a phone call.  Let’s find out what happened, and see how our expert motorcycle accident lawyers can help.  Call our offices at 214-414-3808, or fill out the contact form on our site, and we’ll reach out to you.