The High Price of Motor Vehicle Accidents

On Behalf of | Oct 3, 2014 | Car Wrecks

According to National Safety Council (NSC), in 2012, the average cost of a fatality in a motor vehicle accident in this country was $1,410,000. That number represents both loss of life and loss of productivity. In 2012, there were 5,419,000 police-reported vehicle accidents in this country. There were 33,561 people killed in those car crashes. Another 2,362,000 were injured. It is also estimated that there were another 10 million accidents that were not reported. The cost of those injuries continues to increase. A study conducted by the Insurance Research Council’s (IRC), titled Auto Injury Insurance Claims Study, the cost of medical expenses to motor vehicle crash victims is rising at a faster rate than that of inflation. Figures from the IRC reveal that between the years of 2007 to 2012, the average economic loss suffered by a crash victim increased by 8 percent for personal injury protection (PIP) claimants, and 4 percent for bodily injury (BI) claimants. Expenses that fall under economic loss include lost wages, medical care and other out-of-pocket expenses. The average property damage claim was $3,073 in 2012. That same year, the average claim for bodily injury was $14,653. The top two causes for fatal motor vehicle crashes in 2012 were drunk driving and speeding. There were 10,322 people who were killed in crashes caused by a driver who had blood alcohol content (BAC) of 0.08 or higher. Speeding was the cause of accidents which killed 10,219 people in 2012. Over one-third of 15 to 20 year-old and 21 to 24 year-old male drivers who were involved in fatal motor vehicle wrecks were speeding. Other causes of fatal vehicle accidents in 2012 were distracted drivers (3,050 fatalities) and red light running (900 fatalities). If you have been injured in a vehicle crash caused by the negligence of another driver, contact an experienced New Braunfels personal injury attorney to find out what compensation you may be entitled to.