Louisiana residents shared some of the costs resulting from car crashes that totaled almost $1 trillion nationally in 2010. These costs include a loss of productivity due to lost work time as well as loss of life and the associated costs.
Although fatalities had decreased for the previous six years, according to the National Highway Traffic Safety Administration, fatal accidents briefly increased during the first part of 2012. Although many car accidents result in less serious injuries, the costs associated with these injuries have risen faster than inflation. In 2012, bodily injury claims averaged over $14,000 each.
In 2012, catastrophic injuries and deaths continued to occur in large numbers, according to NHTSA data. A car accident resulting in injury happened every 14 seconds on average with a death related to an accident occurring every 16 minutes on average. Insurance and victims primarily pay the costs of injuries related to crashes with charities and governments covering 23 percent of the costs. The Centers for Disease Control estimates that accidents each year have averaged out to $500 for each licensed driver in the U.S.
Several factors play a role, with alcohol responsible in 31 percent of fatalities and 42 percent of intoxicated drivers involved in accidents speeding. Forty-one percent of drivers admitted in a survey to having dozed off while driving. Distracted driving has played a role in 10 percent of fatal crashes.
Car accident injuries may leave a person unable to work for some time as well as interfere with their life in other ways. Because of the high costs, many find that seeking an attorney's advice on how to receive compensation is the best way to receive assistance.
Source: Rocky Mountain Insurance Information Association, "Cost of Auto Crashes & Statistics", October 10, 2014