3 Ways to Financially Survive a Car Crash Today
Do you love preparing for the future?
Many people try to make themselves as prepared for the future as possible. Everyone wants to be ready for whatever comes up.
While planning, most people think of a few things. They put money aside for retirement and open savings accounts with categories for emergencies or large purchases.
But how many people plan for surviving a car accident?
Of course, very few people spend their days thinking about car accidents. Yet, car accidents happen every day, and most people will experience a car accident once every 17.9 years.
Unfortunately, car accidents come unexpectedly and can cost you thousands of dollars in medical and car repair bills. It can also cause the cost of your insurance to rise.
Don’t know how to plan for financially surviving a car crash today?
Keep reading to learn more!
1. Make Regular Savings Account Deposits
Do you have a savings account?
If not, open one. Making regular contributions to savings account not only helps you financially survive a car crash today, but it also helps you have money when you need it.
Yet, 69% of Americans have less than $1,000 in savings. While this might seem like a comfortable nest egg to some, it can become quickly depleted. Car accidents often cost people thousands of dollars as they pay for repairs and medical bills.
Once you open a savings account, then, make regular contributions to it. Every individual’s financial situation differs, but in general, financial planners recommend you save at least 20% of your income.
After you’ve put the money away, try not to dip into it unless you have to. Consider it an investment in your future, when you need it.
2. Make Sure You Have Valid Insurance
Do you have valid medical and auto insurance?
While the idea of making monthly payments may seem daunting, it’s worth it. Without insurance, you could get into a car accident and have to pay for costly car repairs and exorbitant medical bills.
This makes the monthly payments worth it. They avoid a lot of expensive bills in the end.
Not sure where to get insurance? You can purchase medical insurance through the U.S. government’s official marketplace, healthcare.gov. You may even qualify for reduced payments if you meet certain income qualifications.
To purchase auto insurance, use websites such as thezebra.com to compare quotes between different insurance providers.
3. Hire an Attorney
Are you currently handling the aftermath of a car crash?
If so, you might be dealing with unbearable medical and car damage bills. Should you not be getting the compensation you need, hire an attorney. They will file a legal case against the other party and hopefully get you some compensation.
Read more here about the common types of car accidents and get your legal representation today!
Want to Go Beyond Preparing for a Car Crash Today?
Now that you’ve learned how to prepare for a car crash today, it’s time to take action.
Implement the strategies listed above as quickly as you can. The sooner you have a plan and a robust financial savings account, the better you will be able to handle any unforeseen emergencies.
If you want to learn how to take care of your car and even do minor car repair, check out the rest of the articles on this website!