Cost of Car Accident Injuries in Virginia
According to an article from Green Car Reports, more than 1.2 billion vehicles are in service across the globe, with estimates expected to be closer to 2.0 billion vehicles by 2035. With the rising number of vehicles sharing the roadways, there is an increased level of congestion, along with a heightened risk of being involved in a car accident.
Each year, tens of thousands of people are killed and millions are injured in vehicle-related accidents. In 2013, the National Highway Traffic Safety Administration (NHTSA) reported 32,719 vehicle-related fatalities and 2.31 million vehicle-related injuries in the United States alone.
Now, not all drivers or passengers will be involved an accident during the course of their life. However, the high cost of car accident injuries affects every single American, and our society at large.
Car Accidents – The Cost To Society
In May 2015, the NHTSA updated its analysis of “The Economic and Societal Impact of Motor Vehicle Crashes, 2010,” which details the substantial cost of car accidents to society. Per the study, overall costs associated with motor vehicle accidents are close to $871 billion.
The approximately $242 billion in economic costs include expenses related to:
- Lost productivity ($77 billion)
- Property damage ($76 billion)
- Congestion costs including travel delays, increased fuel consumption, emissions and other adverse environmental impacts ($28 billion)
- Medical costs ($23 billion)
- Legal and court fees
- Emergency medical services
- Insurance administration
- Workplace losses.
When you divide these costs equally among the 308.7 million people residing in the United States, the cost of car accidents comes out to $784 per person. It also accounts for 1.6 percent of the U.S. Gross Domestic Product for the year reported, 2010. As public revenues paid for nearly seven percent of costs related to motor vehicle fatalities in 2010, it was as if tax-paying households each covered the equivalent of $156 in additional taxes.
In total, due to workplace losses, lowered household productivity and legal costs associated with car accident injuries, the lifetime economic cost of vehicle-related fatalities to our society is in the range of $1.4 million per fatality.
Car Accident Costs And Damages In Charlottesville
The remaining $594 billion out of the $871 billion in costs related to injuries from car accidents and other motor vehicle collisions is for harm caused as a result of loss of life, loss of companionship and a diminished quality of life. According to NHTSA estimates, the crash cost per injured victim (even calculating in a three to four percent discounted rate) depends on the severity of injuries and ranges between:
- $2,782 and $384,011 for medical costs
- $2,726 and $337,607 for earnings loss
- $862 and $95,407 for loss of household production
When a fatality occurred, crash costs were about $11,317 for medical costs, $933,262 for lost earnings and $289,910 for loss of household productivity.
Victims of car accidents can expect to have costs and damages which may include:
- Medical expenses for treatment, hospital stays, surgery, and rehabilitation
- Repairs to your vehicle or property
- Lost wages
- Loss of earning capacity or future earning potential
- Legal bills
- Increased insurance costs
- Occupational therapy
- Lessened quality of life
- Loss of enjoyment or consortium
- Pain and suffering
- Emotional distress
- Medical devices and
- Continued medical costs related to permanent disabilities, disfigurement or impairment
- Long-term care
Kendall Law Firm Can Help Car Accident Victims
If you or someone you love has been seriously injured in a car accident, we can help. Our personal injury attorney has more than 30 years combined legal experience, so we understand the societal and personal costs associated with vehicle-related collisions. We have successfully represented countless accident victims and their families, and are committed to working diligently to help you get your life back on track as well.
To find out what a car accident attorney from our firm can do for you, call us today. We offer a free case evaluation and would be happy to assess your case and its potential value. We serve accident victims in Charlottesville, Harrisonburg, Winchester, Woodstock, Staunton and other areas of Virginia.