Common Vehicle Accident Costs

Motor vehicle accidents can cause long-term consequences, including loss of life, severe injuries and a lifetime of expenses. Estimating the cost of vehicle accident damages is vitally important in determining and covering your future financial burdens. A claim can only be made once. Therefore, it’s crucial to gather the appropriate evidence to ensure the jury awards damages that sufficiently cover the cost of your current and future treatments. 

Attorneys may call on expert witnesses and economists to provide forecasts of future expenses so that the jury can make an appropriate determination of the amount of compensation necessary. 

In 2012, there were 2.5 million visits to the emergency room for non-fatal car accident injuries and 7.5% of these resulted in hospitalization. The costs associated with such visits can be extremely high. The average lifetime medical costs for a patient hospitalized in the same period was $56,674. For those who are treated and released, the average cost is $3,372. 

Post-Accident Costs Include:

• Initial Emergency Room Visit
• Hospitalization
• Ambulance / Medical Transportation
• Prescription Drugs
• Home Health Care
• Follow-up Appointments or Surgeries
• Visual Aids
• Dental Reconstruction Costs
• Medical Devices
• Nursing Home & Insurance Claim Costs

Other Vehicle Accident Expenses

Medical costs are not the only expense victims face after an accident. Quality of life may be affected after a wreck, and a victim’s ability to work may be impacted. A family can suffer tremendously if the sole breadwinner is severely injured in a wreck and is forced to stop working or at a different capacity. This can severely impact the injured party’s earning power.

The CDC estimates the lifetime costs of work loss from non-fatal car accidents at $32.9 billion in 2012. This includes:

• Lost Future Earnings
• Lost Fringe Benefits
• Lost Value of Household Work

While you can do your part to try and remain safe on the roads, it’s not always possible to avoid a collision. If you or someone you know has suffered personal injury in an accident, we can help. Contact Saladino & Schaaf online today or call us at 270-444-0406 (Paducah, KY) or 270-753-1529 (Murray, KY)  to schedule a free case review. You may be entitled to a significant settlement for your injuries, but you must act quickly. There are time limits on legal action.