How Much Do Auto Accidents Cost?
We Estimate the Costs of a Car Accident For You
Suppose you could tally up the expenses of auto accidents and injuries for a whole year – the total number of dollars spent to process and resolve all accident cases would be shocking without a doubt. That is precisely what the National Safety Council does each year, to determine the economic effects these crashes incur on a national scale.
Of course, it is extremely difficult, if not impossible, to account for every single cent connected with injuries sustained by men, women, and children in car accidents. Therefore, the numbers provided by the National Safety Council should be treated as estimates, not exact figures – nevertheless, the results are enlightening.
The Costs of Auto Accidents
The costs which are factored into these estimates include lost wages and productivity, medical costs, administrative expenses, property damage, and employers’ uninsured costs.
The average costs of auto accidents are as follows:
- Average expense for each crash fatality: $1,130,000
- Average expense for each nonfatal disabling injury: $61,600
- Average expense for each incident involving property damage: $7,500
The average costs of injurious auto accidents are as follows:
- Average expense for incapacitating injury accident: $65,000
- Average expense for non-incapacitating evident injury accident: $21,00
- Average expense for possible injury accident: $11,900
These figures just consider the economic effect of auto accidents. In order to determine the true value of an auto accident, one must also consider the value of lost quality of life and other long-term, non-economic effects. The National Safety Council took this into account when determining the estimates below:
- Comprehensive expense of a fatality: $4,100,000
- Comprehensive expense of an incapacitating injury: $208,500
- Comprehensive expense of a non-incapacitating evident injury: $53,200
- Comprehensive expense of a possible injury: $25,300
- Comprehensive expense of no injury: $2,300
If you or a loved has been injured, or worse, killed in a California car accident, then you know personally how traumatic and disruptive a crash occurrence can be. There is no amount of money that can truly make up for the suffering you and your family have experienced as a result of the accident. But an experienced attorney can handle your financial and legal matters in your stead so you and your family can focus on recovery.
With 20 office locations, Wilshire Law Firm serves the entire state of California. If you can’t come to us, we will come to you, whether you’re at your place of business, your home, or even the hospital. You are part of the Wilshire Law Firm family, and we are here to accommodate all of your needs.
Our staff is on standby, 24 hours a day, 7 days a week, ready to provide you with immediate legal assistance. Don’t wait – call us today at 1-800-52-CRASH for a free consultation.