The True Cost of Car Accidents
- Written by Lem Garcia
When you get in a car accident, there are more costs than fixing a damaged vehicle. Car accidents cost $836 billion each year in the United States. The Centers for Disease Control and Prevention reported the total cost of car crash-related deaths in Texas—including medical costs and economic losses—as $4.89 billion in 2013.
The cost of a car accident goes far beyond the damage to your vehicle. Aside from the obvious costs, such as lost work time, higher insurance premiums, and the cost of repairs, there are many hidden costs associated with auto collisions.
If you've been in an auto accident, it's important to consider all the ways it might affect your finances. You may be entitled to compensation from the at-fault driver or insurance company to cover your losses and expenses. Your car accident lawyer oceanside can help you determine how much compensation you deserve for your injuries and property damage — now and in the future.
The following are some of the costs of car accidents that most people don't think about until it's too late:
Car Repair Bills
There should be no doubt about the fact that car accidents are a serious matter. Some people have been known to lose their lives in the course of these accidents. At the same time, not everyone who is involved in a car accident dies. While some may sustain bodily injuries and others may not, there is one thing that every person who is involved in a car crash stands to lose – money.
The average cost of repairing a vehicle after an accident
When it comes to the average cost of repairing a vehicle after an accident, there are several factors that need to be taken into consideration. These include:
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Repairing or replacing vehicle parts
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Bodywork
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Paint job
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Towage fees
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Rental fees (if you’re forced to rent another vehicle while yours is being repaired)
Medical Expenses
The first concern after an accident? The health of you and your passengers. Even if you have medical insurance, you will still be responsible for paying some portion of your medical expenses. Medical bills can become overwhelming very quickly in the event of hospitalization or long-term physical therapy. And while these expenses may be covered by insurance, they still cost you time and money that could have been used elsewhere.
Injuries can be extremely costly in terms of both pain and suffering.
Injuries can be extremely costly in terms of both pain and suffering. According to the National Highway Traffic Safety Administration (NHTSA), 2.35 million people were injured in traffic accidents in 2015 alone. The most common injuries sustained in these accidents include whiplash, cuts, bruises, fractures, brain injuries, back and neck injuries, internal organ damage, and death.
Lost wages
If you are injured or required to take time off from work because of your accident, you may be entitled to compensation for lost wages. This includes not only the days you miss while healing, but also any future loss of earnings that occur as a result of an accident-related disability.
For example, you might need to take time off from work to deal with repairs or other consequences of the accident. Or, you may arrive late for work because you were involved in the accident and had to deal with the police, paramedics, and other drivers during rush hour traffic (the most common time for accidents).
Pain and suffering
Pain and suffering can include the pain associated with an injury suffered in an accident, as well as the suffering caused by emotional stress or mental anguish. It is often hard to calculate with certainty how much pain and suffering is worth, but it is something that can be compensated for in car accident lawsuits.
Property damage
This can include anything damaged in your vehicle during an accident that needs to be replaced or repaired. If your property was damaged during an accident—such as clothing, electronics, or other personal items—you may be able to receive compensation for their loss and/or repair.
Calling a Personal Injury Lawyer is the best decision.
A car accident can be a traumatic experience. The financial costs of medical treatment and auto repairs may be overwhelming. However, the cost of a car accident can be even greater if you do not consult with an experienced personal injury lawyer.
A personal injury lawyer can inform you of your rights after an automobile accident while fighting to ensure you receive full compensation for your injuries.
Takeaway
The cost of car accidents isn't just measured in dollars and cents. When you're involved in a crash, it can take a physical, mental, and emotional toll.
There's no getting around it: Car crashes cost money. A minor fender bender can result in hundreds or thousands of dollars in repairs, and serious collisions can cost much more. Often those costs are covered by insurance — but that doesn't mean you escape unscathed. You might have to pay a deductible before your insurer kicks in, or your premium could go up if you're found at fault for the accident. And even if you're not involved in an actual crash, everyday wear and tear can be costly over time.
Author Atty. Lem Garcia
