According the the U.S. National Safety Council, 2015 was the deadliest traffic year since 2007. Nearly 4.4 million people were injured and 38,000 died. These numbers represent a 14 percent increase from the previous year. If those statistics are not shocking enough, the financial consequences of those accidents increased 23 percent from 2014 to 2015, to roughly $152 billion. Consider some car accident causes and their effects below:
Car Accident Causes
What causes car accidents to increase? The first and most obvious factor is more vehicles. The more cars on the road, the more likely accidents are to occur. In 2015, gas prices dropped, allowing more drivers to purchase the fuel necessary to drive. Also, unemployment dropped. As employment rises, the need to travel to work grows and the ability to pay for cars and gas increases. The strongest correlation to high car accidents is a growing economy. The second highest contributing factor is, of course, cell phone usage.
Car Accident Effects
Car accidents result in a plethora of physical side effects, from bruises and fractures to fatal injuries. Of course, the financial cost of a car wreck pales in comparison to the pain and suffering that follows when someone is severely injured or killed in an accident. But even a minor collision where everyone walks away without serious injury can lead to big financial expenses, which are often greater than many people expect they will be. Below are some common financial effects of car accidents and some tips to prepare for them.
Every collision results in some sort of damage to the cars involved. Most insurance companies have a required deductible that must be paid to fix the damage. If you don’t have collision or comprehensive insurance, you may have to pay for the repairs yourself. To add to that, you’ll need a rental car while your vehicle is in the shop. Total vehicle repair costs can get as high as $2,000 even with insurance.
Depending on the type and force of the impact, you or your passengers may have sustained injuries. The most important step is to seek medical attention; worry about the costs later. The expenses of ambulances, emergency room, doctor’s fees, medicine and other related expenses are generally reimbursed by insurance companies if you have a comprehensive plan.
Arguably the most damaging financial setback from an accident is the sharp increase in insurance premiums. According to surveys, after you make just one claim, you pay at an average of 41 percent more for your next premium. The best way to avoid this expense is to maintain a great driving record.
If you’ve been in a car accident and want to understand the financial consequences, contact one of our Cleveland, Ohio, car accident attorneys at Ohio Car Accident Lawyers today.