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Just how costly are motor vehicle crashes?

On Behalf of | Apr 4, 2020 | Car Accidents, Truck Accidents

When you’re involved in a traffic accident, you should know immediately that this is going to be costly. Regardless, it’s still essential that you get any injuries properly diagnosed and the medical care you need to treat them.

The costs you face for your care are costs that you should be trying to pass on to the person who caused the crash. An at-fault driver should be carrying insurance that will cover your financial losses that are a result of the collision.

How much will a car crash cost?

It’s hard to say exactly because everyone’s situation is going to be different. However, the National Highway Traffic Safety Administration believes that the cost for the whole United States is around $1 trillion when considering the loss of life and loss of productivity in the nation on average. For an individual, the average auto liability claim in 2013 was approximately $3,144. Private insurers tend to pay around 50% of all costs, while crash victims pay an average of 26% of the cost.

The National Highway Traffic Safety Administration’s 2020 report states that the public pays approximately 13% of the cost of all injuries that are treated in emergency rooms. The public covers up to 48% of the costs associated with rehabilitation and 26% of costs associated with hospitalization.

It’s not easy to know how much your crash will cost you, especially as the years pass and the cost of maintenance for vehicles and medical care for injuries increases. You may want to discuss your crash and current expenses with your attorney, so you can determine a fair settlement amount.