Brad Pistotnik Law
Abogado El Toro

What is the Economic Cost of Automobile Accidents?

types of damages

How much do automobile accidents cost Americans each year? Beyond medical and funeral expenses, what costs should plaintiffs consider when determining which types of damages to pursue in a personal injury claim? The reality is that the true costs of motor vehicle accidents are staggering and can persist for years after an accident occurs. When individuals are injured or a loved one suffers a wrongful death, plaintiffs have the right to pursue damages for a wide variety of injuries and their impact.

Frequency of Auto Accidents and Their Cost

Centers for Disease Control (CDC) data gathered in 2015 showed that more than 100 people every day died in motor vehicle accidents and more than 2.5 million were injured and treated in emergency rooms. That year, it was estimate that the costs of medical treatment and financial losses from injuries and fatalities exceeded $63 billion. However, this is only a small part of the total economic losses experienced.

These numbers are significantly less than estimates from the National Highway Traffic Safety Administration (NHTSA). Studies conducted by the NHTSA in 2010 showed that 32,999 people were killed, and a further 3.9 million people were injured. That year, a total of 24 million motor vehicles suffered damage in motor vehicle accidents. In all, economic costs from these accidents exceeded $242 billion. That is a figure that is roughly 1.6% of the total Gross domestic Product. Further, when impact to quality of life is factored in, the total economic cost of motor vehicle accidents in the United States rises to $836 billion.

What Types of Damages Are Covered By an Auto Accident Suit?

When considering what types of damages to pursue, statutes allow individuals to file claims for a wide variety of damages. These include compensation for loss of life/wrongful death, medical expenses stemming from injuries, loss of income, loss of consortium, and impact to quality of life. Individuals can also pursue compensation for long-term care expenses, property damage, and punitive damages when the actions of other motorist were gross violations of the law or established societal norms.

Call Brad Pistotnik for Your Auto Accident Case

Brad Pistotnik Law is a Wichita law firm with accident injury attorneys, car accident lawyers, truck accident lawyers, auto accident attorneys, lawyers, and abogados who represent clients in Kansas, Oklahoma, Nebraska, Texas, Florida, Missouri, and Illinois who wish to pursue various types of damages after a car crash. Our attorneys can provide the legal help you need to pursue your personal injury, property damage, and wrongful death claims. Whether the accident occurred in Wichita, Liberal, Garden City, Leoville, Nicodemus, Damar, Alton, Osborne, Penokee, Lenora, or elsewhere in these states, our Wichita law firm helps clients understand the types of damages they can pursue following a motor vehicle accident.