The Spiraling Costs Of Car Accidents

Each year, statistics show that around 6 million car accidents will occur in the US. 100 people a day die in these accidents, with thousands more being injured, and accidents can range in severity from minor fender benders to serious, life-altering crashes.

Even those who drive safely and carefully can find themselves involved in an accident, which is why it’s so important to have an insurance policy with a provider you can trust, and many people don’t actually realize all the potential money they could lose after a collision or crash.

Bills begin to add up within minutes after a car accident; read on to find out how a car crash can end up costing so much money, not just in damage to the vehicle, but through medical costs, lost income, and so on.

Vehicle Damage

One of the most obvious and direct expenses to take into account after an auto accident is a damage to your vehicle itself. Many car accidents, even relatively minor ones, can lead to various issues and faults with your vehicle, from broken headlights to serious engine damage.

In some situations, vehicles will be deemed unsafe to drive and have to be abandoned entirely, while others will be able to be repaired. In either case, the costs can start to add up quite a lot, with average auto repair bills after accidents being estimated at around $4,000.

Medical Fees

As well as damage to your vehicle, you’ll also have to take into account the financial costs of any damage to yourself and any passengers in your vehicle at the time of the accident. Car crashes can lead to a range of different injuries, from whiplash to broken bones and even traumatic brain injuries in certain cases too.

The medical expenses to diagnose and treat these problems can vary wildly. In some cases, the fees might be quite minimal for simply carrying out a basic check-up on those involved in a minor accident. In other situations, the fees can be lifelong as those with severe brain trauma may require constant therapy and assistance for years to come.

Recovery Fees

Following on from the point above, medical fees and expenses aren’t always limited to the hours and days after the accident. Some victims of car accidents may find themselves with very long recovery periods, which can lead to vastly enhanced costs to take into account.

For example, someone who injuries their leg during a crash may be unable to walk properly for several months, leading to entire changes to their daily life, the installation of a stairlift in their home, the purchase of a wheelchair, and so on.

Similarly, someone who suffers a TBI after a car accident may require lots of physical and mental therapy in order to recover, sometimes even needing entire sessions of therapy to help them re-learn basic tasks and be able to carry out relatively simple activities.

Lost Income

It’s also possible, depending on the severity of the accident and the intensity of the injuries suffered, that you may end up missing out on work while you recover, which again leads to more money lost and greater chances of falling into debt or even bankruptcy in some cases.

Those with physical or mental injuries may find that they are simply unable to carry out their usual working tasks as they used to, potentially leading to the loss of their job and being forced to seek new employment, which may require additional training, adding more and more costs onto the overall tally.

Final Word

Clearly, there are a lot of potential costs to take into account when considering car accidents. It’s important to note that you don’t just run the risk of having to make an insurance claim and cover the costs of car repairs; you may find yourself faced with lifelong bills associated with recovery, rehabilitation, and a dramatically altered lifestyle in the wake of an accident.

Car accident lawyers and personal injury attorneys can assist with this matter, helping those who have been victims of car accidents to get compensation and financial assistance with all of the costs listed above, and having a strong insurance policy can help you handle accident costs more comfortably too.

Ultimately, however, the best way to deal with car crash costs is to try and avoid them altogether. You can’t eliminate every possible risk of the roads, but you can take action to drive sensibly, never drive under the influence of drugs or alcohol, and always keep your eyes on the road to stay as safe as possible.

Jeff Campbell

Jeff Campbell is a father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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