After a car accident, your biggest concern should be for your health, wellbeing, and safety. Unfortunately, for far too many Americans, their biggest concern is how they’re going to cover their bills. Hospitals, ambulance rides, and physical therapy can all be expensive, and that may be the tip of the iceberg when it comes to the financial aftermath of a crash.
Take one look at the average cost of a car accident in the United States and it’s easy to see why the bills are such a big concern.
● An accident with fatalities will cost $1,410,000 per death.
● An accident with a non-fatal disabling injury will cost $78,900.
● An accident with non-disabling injuries and property damage will cost $8,900.
● A minor car crash can cost an uninsured motorist nearly $10,000.
Car accident costs do not only affect individuals, either. The costs to businesses and society are also staggering. Crashes that happen during work-related activities represent 40% of all crashes. According to the Occupational Safety and Health Administration (OSHA), accidents can cost a single company around $66 billion, with another $33 million in lost work.
The annual cost of car accidents in the U.S. is a staggering $230.6 billion. Each year in this country there are 2.35 million injury accidents and 37,000 fatalities. As automobile manufacturers have developed improved safety features, the number of accidents and injuries has gone down, but the costs associated with them have continued to rise.
Factors That Can Affect the Cost of an Accident
All of the following will be contributing factors to the overall cost of a car accident.
Damage to Your Vehicle
A car accident can be anything from a minor fender bender with damage that is barely noticeable to a vehicle that is completely totaled. The cost of your repairs and the cost of your vehicle both factor into the overall cost of a wreck.
To calculate the damage, the person should contact their insurance broker or company for assistance. The company can send an assessor to estimate the amount for the damage incurred and will compare it to the vehicle’s market value. It gives assessors an idea if it’ll be worth their while to refer the owner to a repair service or if they should make a payout for a replacement vehicle.
In some cases, where your vehicle is damaged significantly, it can actually be more affordable to find a used car on a site like Grays, than paying for the repairs. While discussing this with the insurance company, ask about adding additional benefits if needed.
Some add-ons to insurance could include getting a ctp green slip quote that will assist with the emissions of harmful outlet gases into the atmosphere. The money from buying these slips will go to planting more trees which emit more oxygen into the air, and the car’s emissions will dwindle.
Extent of Your Injuries
Any car accident, no matter how minor, can result in at least one medical bill. Injuries like minor cuts and bruises may not require any hospitalization, but it’s still a good idea to get checked out by a doctor to be medically cleared. Injuries that are severe enough to require hospitalization, physical therapy, or lifelong care can greatly contribute to the cost of your accident.
Your Passengers’ Injuries
Unfortunately, not only may the driver sustain injuries during a vehicle accident but also the passengers in the car at the time. It means the vehicle’s driver should be extra cautious when giving someone else a ride.
The severity of your passengers’ injuries and the number of passengers in the vehicle at the time of an accident can also make the cost of an accident sky-high. You may also be held legally liable for your passengers’ damages if you are found to be at fault.
Car wrecks can damage a lot more property than the vehicle itself. If your accident damages other property like items in the vehicle or the cinder block wall in front of someone’s house, you may also be held liable for those costs.
Whenever a person is involved in an accident involving any other property like a home or car, it may be wise to seek legal advice from reputable professionals to ensure that they reasonably handle the case on the driver’s behalf, including the assessment for the damage incurred.
Location of the Accident
The liability laws where you live can also affect the cost of an accident. For example, Washington DC has pure contributory negligence laws. If you get in an accident there, if you’re determined to be just 5% at fault for your accident you cannot recover a single penny. You’d be responsible for paying all of your own damages, even if someone else was 95% responsible. But if you are hurt in new jersey then your car accident claim can be significant.
Another cost to keep in mind is that you may need to get the vehicle transported to a shop across the country depending on the location of the accident. In this case, you will need to look for a reputable provider of shipping cars across country.
The Cost of an Attorney
After an accident, you may want to consult a car accidents lawyer to see if you have any options for filing a claim. Most personal injury attorneys work on a contingency basis. You’ll end up paying for their services in the end if you settle or get an award, but it won’t be an expense that comes out of your pocket up-front.
After a settlement or award, the other party will send a check to your attorney, who will then deduct their fee and cut you a check for the rest. The typical amount an attorney will take is somewhere between 33.3% to 40%. A lawyer may also use a sliding scale to determine their fee.
Here are some personal injury resources to keep handy in case of an accident.