Car accidents are a common occurrence in the United States. While some of these accidents result in nothing more than minor bruises that can be easily treated, others result in serious injuries that require extensive and costly treatment. The total cost of car accidents is not limited to medical bills only. The cost of property damage, lost wages, and other costs can quickly escalate, and run into thousands of dollars.
Each year, the National Safety Council (NSC) gathers data from every single accident that happened during a 365 day period and then calculates the total dollars spent to resolve injuries and damages that were sustained due to the motor vehicle accidents.
What are the estimated costs of a car accident?
When estimating the overall costs of car accident, various costs are factored in, including, but not limited to:
- Medical costs
- Lost wages
- Property damage
- Pain and suffering
- Uninsured motorists costs
The estimated costs of auto accident include:
- The average cost paid for each accident that caused property damage is $7,550
- The average cost of non-fatal, but disabling injury is $61,700
- The average amount paid for a fatal motor vehicle accident is $113,000
- The average cost for a possible injury accident is $12,000
- The average amount spent on a non-disabling injury accident is $21,500
- The average cost of a disabling injury accident is $66,000
Comprehensive Expenses in an auto accident
The aforementioned figures take into account only economic effect of auto accidents. However, auto accidents also result in significant non-economic losses. The National Safety Council also takes into account the true value of accidents by factoring the loss of quality of life for those who sustained injuries in an accident, and a variety of other long term non-economic consequences. Some of the findings are as follows:
- Comprehensive costs paid for a non-injury auto accident is $2,400
- Comprehensive costs paid for a possible injury accident is $26,300
- The comprehensive expenses paid for a disabling injury is $209,500
- The average comprehensive cost paid for a non-disabling injury is $54,500
- The average comprehensive costs paid out on a fatal accident is $4,200,000
This clearly shows that car accidents cost much more than we may think. In spite of the best estimates, it is difficult to take into account every single expense connected with auto accident injuries sustained by men, women and children in accidents. So, the figures provided by the National Safety Council (NSC) can be viewed just as fair estimates and not exact amounts. However, these figures are eye opening and provide a fair idea of how much do accidents cost.
Injured in an auto accident?
If you or someone close to you has been injured in a car accident, you should hire services of a competent St. Louis accident lawyer to get help with the claim. Call (314) 361-4242 for a free consultation.