Every drive to work or trip to the grocery store slightly increases an individual’s chance of experiencing a crash. The more time someone spends in a vehicle and the more miles that they travel overall, the greater the likelihood that they will eventually experience a major collision.
Crashes might leave a vehicle unsafe to drive and could even put someone in the hospital. When that happens, Minnesota motorists generally turn to automotive insurance. If the other driver was at fault, there should be liability coverage that will help cover medical expenses and property damage losses. Motorists usually also have no-fault personal injury protection (PIP) coverage on their own policies to help reduce the overall financial impact of a collision.
Unfortunately, some people still find themselves struggling financially after a crash, and those in higher-paid, demanding careers are more likely than many others to face lasting economic hardship because of a serious collision.
Well-paid blue-collar workers may have to change professions
There are two factors that largely determine how expensive a car crash will be for an individual. The first is the extent of their injuries. Obviously, catastrophic injuries with permanent medical consequences will likely generate far more medical expenses than simple, temporary injuries.
The second is someone’s profession. Anyone in a highly-paid profession may find that an extended leave of absence from work will create more expenses than insurance can fully cover. Those who work in well-paid blue-collar professions, such as construction professionals and manufacturing employees, may have not only short-term wage losses during their recovery to consider but also a long-term, possibly even permanent reduction in their earning potential.
Brain injuries that affect motor function, spinal cord injuries, amputations and other severe injuries can physically prevent someone from fulfilling the responsibilities of their job. Well-paid blue-collar professionals may, therefore, need to transition to a new job that will only pay a fraction of what they used to earn in their prior position.
They may also need support not just for lost wages that they cannot earn while hospitalized but also a long-term reduction in their overall earning potential. Oftentimes, even those with access to both liability and no-fault PIP coverage will find that lingering injury symptoms generate expenses far beyond what they can rely on insurance to cover.
Understanding when an individual is at higher risk for financial hardship created by a car crash may inspire that person or their close family members evaluate every option when responding to a recent Minnesota wreck.