How Much Does It Really Cost to Get Into a Car Accident?

September 25, 2017

Your car accident won’t always end with a simple, upfront cost or one, easy bill. Instead, the true cost might be multiple charges over multiple bills, beginning with the car accident itself and followed by several other expenses (e.g., medical bills). To understand the actual damages you may have suffered in a collision, you must first understand the true cost of your car accident.

Minor Car Accidents vs. Major Car Accidents

If you’ve suffered a car accident, your costs will differ depending on whether your car accident is minor or major. Your car accident is considered minor if:

• Your car’s still drivable and has nothing seriously wrong with it
• There are no serious injuries

On the other hand, your car accident is considered major if:

• Your car’s rendered inoperable
• You or your passenger suffers serious physical harm and/or death.

While minor and major car accidents differ in damages, they can both be expensive. In estimating the “economic” costs of car accidents, the National Safety Council (NSC) averaged the cost per death, injury severity and crash. Based on these outcomes, the NSC estimated the following costs:

• Death: $1,542,000.
• Disabling Injury: $90,000.
• Evident Injury (e.g., any injury, other than a fatal injury or an incapacitating injury, which is evident to observers): $26,000.
• Possible Injury (e.g., any injury reported or claimed that is not evident): $21,400.
• No Injury Observed: $11,400.
• Property Damage Only: $4,200.

So even if a car accident is minor and limited to property damage only, the economic cost can still be almost $5,000.

The True Cost of Your Car Accident

If you’ve suffered a car accident, a damaged car is just the beginning of your costs. The true cost of your accident can climb well beyond the repair costs. Your overall costs can start adding up if you include:

• Vehicle repair
• Car rental
• Medical bills
• Lost wages/income
• Out-of-pocket costs (e.g., childcare or chiropractor)
• Pain and suffering

In the best case, your car accident is only a minor one, though this can still be costly. More costly, though, is if you’ve suffered a major car accident—that is, your car’s been totaled and you’ve suffered a personal injury. If you’ve suffered an injury in a car accident, a personal injury lawyer may be able to help you recover the true cost of your damages and losses. Contact us today to schedule your consultation.

The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.