The Extreme Cost of Motor Vehicle Accidents | Joel H. Schwartz, P.C.
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The Extreme Cost of Motor Vehicle Accidents

Even though injuries and deaths are the worst part of motor vehicle accidents, there is something else to consider: the price paid by the economy as a whole.

According to data provided by the National Highway Traffic Safety Administration, motor vehicle accidents cost the country approximately $1 trillion in loss of life and productivity in 2010.

The Rocky Mountain Insurance Information Association shared additional information regarding the cost of such accidents, noting the following:

  • In 2013, the average insurance comprehensive claim was $1,621. The average collision claim was $3,144.
  • In 2013, the average auto liability claim for bodily injury was $15,443. The average liability claim for property damage was $3,231.

The cost of a motor vehicle accident goes well beyond what you see on the surface. Even if there are no injuries or deaths, it still costs somebody money.

If a person is injured in any type of on the road accident, they should learn more about their legal rights and how to collect the compensation they deserve.

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