Enter your scenario
Use estimates. Keep it conservative when details are uncertain.
Example data
| Field | Example value | Notes |
|---|---|---|
| Property / repair costs | 4,500 | Body work and parts replacement. |
| Medical expenses | 1,200 | Clinic visits and follow-up tests. |
| Lost wages / income | 800 | Two unpaid days plus reduced hours. |
| Coverage limit | 10,000 | Protection ceiling before deductible. |
| Deductible | 500 | Paid by you before payout. |
| Recovery probability | 25% | Collection is uncertain with uninsured drivers. |
| Premium increase | 10% for 3 years | Often temporary, varies by insurer. |
Formula used
TotalLoss = Property + Medical + LostWages + Legal + Rental + OtherPayout = max(0, min(CoverageLimit, TotalLoss) × CoveragePercent − Deductible)OutOfPocket = max(0, TotalLoss − Payout)BestRecovery = min(OutOfPocket, RecoveryCap)ExpectedRecovery = BestRecovery × RecoveryProbabilityAnnualIncrease = CurrentPremium × PremiumIncreasePercentPV = AnnualIncrease × Σ(1 / (1 + DiscountRate)^t), t = 1..YearsExpectedImpact = (OutOfPocket − ExpectedRecovery) + PV + FinancingCostHow to use this calculator
- Enter realistic cost estimates for repairs, medical care, and missed income.
- If you have protection, add the limit, percent covered, and deductible.
- Set a recovery probability and cap based on collectability.
- Add potential premium changes and a discount rate for today’s value.
- If you expect to finance costs, include APR and months.
- Press submit to view expected, best, and worst outcomes.
What an uninsured claim can cost
Uninsured incidents often create layered expenses that arrive at different times. Repairs, medical bills, and temporary transport are the visible part. Add income interruption, report fees, storage, and replacement items to capture the true overall cash drain. In many real cases, indirect costs can add 10–30% beyond the initial estimate.
A practical budgeting step is adding a contingency buffer. If your repair quote is 4500, plan for 4950 to 5850 to absorb supplements, diagnostics, or parts delays. Also account for time: invoices can span 30–90 days, creating overlapping monthly obligations for tight household cash flow.
How coverage changes the gap
When protection applies, the payout is constrained by a limit, the covered percentage, and the deductible. A higher limit reduces the unpaid portion, but deductibles can still leave a meaningful gap for smaller losses. If coverage percent is less than 100, the unpaid share rises linearly with every cost category you enter.
Recovery realism and expected value
Collecting from an at‑fault uninsured party can be uncertain. This tool separates a best‑case recovery cap from a probability of collection to compute expected recovery. Example: a 25% chance to recover up to 3000 yields an expected recovery of 750, which should be treated as a statistical offset, not guaranteed cash.
Premium pressure over time
Even when an insurer pays, premiums may rise for multiple years. The calculator converts a yearly increase into a present value using a discount rate, reflecting that future dollars are worth less today. A 10% increase on a 900 premium for three years is 90 per year; discounted at 4%, the present value is slightly under the simple 270 total.
Payment plans and cash flow
If you finance out‑of‑pocket costs, interest becomes an additional impact. By applying an amortized payment formula, the tool estimates both the monthly payment and the total financing cost. This view helps compare options: pay upfront to avoid interest, or preserve liquidity while accepting a defined borrowing cost.
FAQs
What does “expected total impact” represent?
It combines expected out-of-pocket after expected recovery, the present value of premium increases, and any financing interest you model. It is not a guarantee; it’s a planning estimate based on your inputs.
Should I enter exact numbers or estimates?
Use conservative estimates for each category. If you only know a total, place it in property or other costs, then refine later. The calculator works best when large items are separated for clearer gaps.
How do I choose a recovery probability?
Consider collectability: employment, assets, and willingness to pay. If you have limited information, use a low range such as 10–25%. Keep the cap realistic because fees and delays often reduce net recovery.
Why does the tool discount premium increases?
Premium increases occur in future years, so a discount rate translates them into today’s value for comparison with immediate cash costs. Use a rate close to your savings return or borrowing cost for a personal estimate.
What if I pay everything upfront?
Set financing months to 0. Financing cost becomes zero, and the chart reflects only immediate costs, recovery assumptions, and premium impact. This makes it easy to see how much interest you avoid.
Do downloads store my information permanently?
Downloads include only the metrics shown on the page. The tool does not write your details to a database. Results are kept in your current browser session so you can export after submitting.