The Financial Cost of a Car Accident
Car accidents can be incredibly costly. A typical auto accident can cause bodily harm to third parties as well as the driver of the vehicle. The pain experienced during the accident as well as the injuries sustained won’t have an accurate price tag. However, lawyers normally try to estimate the cost of these non-tangible damages. Since every accident is different, the cost of a car accident will depend on a variety of factors:
- The value of the vehicles involved
- Number of people injured in the accident
- Severity of the crash
- Location of the accident
- Damages caused
- Many other factors
A competent auto accident lawyer is able to quantify the damages and injuries sustained to give you an accurate estimate of the cost of a car accident. When you are involved in a car accident, it is important that you look for an experienced personal injury lawyer who specializes in car accidents and can help you get insurance compensation that is commensurate to the damages and losses you’ve suffered.
The following are the main costs of a car accident.
When an accident occurs, there are bound to be injuries. The injuries can be minor or severe. In cases where only minor injuries have been reported, medical bills amounting to around $3,000 are often reported.
In 2010, for instance, the average medical bill incurred by individuals who sustain minor injuries after an auto accident was $2,713. In cases where severe injuries were reported, the average medical bill incurred by victims of auto crashes in 2010 stood at $503,638. However, those who sustained spinal injuries due to auto accidents often spend an average of $992,867 in medical bills. In case of severe brain injury, the average cost of medical treatment is $408,684.
Loss of Wages
When a car crash occurs, the bodily injuries sustained, whether minor or major, can lead to wage losses. The average annual wage loss for minor or mild accidents stood at $2,661 per victim in the year 2010.
In case of serious injuries that lead to temporary or permanent disability, the lost wages may range from a couple of thousand dollars to millions of dollars. To ensure that you get sufficient compensation, be sure to hire a competent car accident lawyer to help you get some justice.
When an accident occurs, one or more vehicles may get damaged. Any phones or electronics owned by the victims may also be lost or damaged in the crash. This includes tablets, laptops, smartphones, and jewelry, among others. All these losses must be compensated by the responsible parties. In 2013, the average claim for property damage stood at $3,231.
When people wake up in the morning and drive to work, they never plan to get involved in an accident and go through a traumatic experience that may change their life forever. Imagine having nightmares after a car crash or getting panic attacks whenever you think about getting into a car. This type of emotional trauma takes time to heal. It is also difficult to quantify. However, a competent injury lawyer will be able to put a reasonable figure on the emotional pain experienced during and after a car crash.