The cost of a motorcycle wreck can be outrageous. Your favorite motorbike got into a wreck, and the repairs will cost you a fortune. You’re not the only one who’s had to deal with this issue; the average cost of a motorcycle wreck is $2,500. And that’s just for the repairs. If you’re lucky, your insurance will cover some of the costs.
But if you’re not, you’re on your own. There are ways to get around this, though. You could always buy a used bike or even build your own from scratch. Some individuals choose to go for motorcycle rentals in Chicago for temporary use, and as a way to promote greater caution and responsibility while riding. But that’s not always an option for everyone. The best thing to do is to be prepared for the worst and hope for the best.
The Hospital Bill
In 2012, one of my friends was in a motorcycle accident that resulted in a shattered pelvis. He was taken by ambulance to the nearest hospital where he spent the next week in surgery and recovery. When it was all said and done, his hospital bill totaled more than $250,000.
It goes without saying that American healthcare is expensive. But when you’re faced with a hefty hospital bill, it can be shocking just how quickly those costs add up. In my case, the ambulance ride alone cost $2,500. My surgery ran up a $100,000 bill, and my stay in the ICU was another $50,000. Even something as simple as getting an X-ray done can cost hundreds of dollars.
Of course, not everyone has insurance that will cover the full cost of their care. You need to contact an experienced motorcycle accident lawyer to step up the game. Which is our next point.
The Cost of a Lawyer
A lawyer may work on a contingency basis, but that does not mean their services are free. In fact, the cost of a lawyer can be quite high. Here are some things to consider when budgeting for legal services.
Hourly Rate: Lawyers typically charge by the hour. Rates can range from $100 to $500 per hour, depending on the case type and the lawyer’s experience.
Contingency Fee: If a lawyer works on a contingency basis, they will usually take a percentage of any settlement or court award. This fee can range from 33% to 40%.
Expenses: In addition to their hourly rate or contingency fee, lawyers may also charge for expenses related to your case. These expenses can include filing fees, copy costs, and travel expenses.
But it’s still better to hire a lawyer rather than trying to get compensation on your own because insurance companies know how to manipulate and get you to settle for less. Better do your research before hiring just anyone. You’ll need a lawyer who can trust in you and is ready to take your case to trial in case settlement doesn’t work.
The Cost of Lost Wages
A recent study by the National Highway Traffic Safety Administration (NHTSA) found that the price range for a single issue case involving a motor vehicle injury is $9,052 for fractures and $26,656 for spinal cord injuries (SCIs). That’s a lot of money to lose if you’re not careful.
So, if you’re considering getting on a motorcycle, wear proper safety gear like a helmet, gloves, and jacket, and drive carefully. The cost of an accident can add up, and it’s not worth it.
The Cost of Therapy
Therapy can be an extremely effective way to deal with the aftermath of a motorcycle wreck, but it can also be very expensive. The average cost of therapy is $50 per session, but it can easily exceed $100 per session if you see a specialist. And if you need to see a therapist weekly, the costs can quickly add up.
A motorcycle wreck can be a very expensive affair. The cost of the damages to the bike, the hospital bills, and the lost wages can all add up quickly. In some cases, the cost of a motorcycle wreck can be so high that it is simply not worth the risk. Before you get on a motorcycle, be sure to weigh the costs and benefits carefully. Better to be safe than sorry.