Car accidents often cause obvious damage, like injuries and property damage, that lead to expected costs. Medical bills and property repair are well-known costs associated with car accidents, but they are far from the only costs that injured accident victims face.
What is the Average Cost of a Car Accident?
It is difficult to calculate the average cost of car accidents because the costs vary widely depending on the severity of the accident. The National Safety Council calculated the following average economic costs for 2022:
- Fatal accidents: $1,869,000
- Disabling injury accidents: $162,000
- Evident injury accidents: $42,000
These calculations only represent factors like medical expenses, vehicle damage, and wage losses. They do not represent the average comprehensive cost of accidents, which the Council estimates as:
- Fatal accidents: $13,111,000
- Disabling injury accidents: $1,066,000
- Evident injury accidents: $232,000
These numbers include some of the hidden costs of car accidents, including lost quality of life.
The Hidden Costs of Atlanta Car Accidents
While medical expenses are not generally considered a hidden cost of a car accident, certain types of medical expenses are not as obvious as others. The following healthcare-related costs can be considered hidden:
- Therapy or counseling sessions
- Ongoing physical therapy
- Future medical costs
- Assistive devices like canes or prosthetics
Other hidden costs include:
- Transportation expenses
- Childcare and other costs associated with daily assistance
- Loss of quality of life
- Disfigurement or disability
- Loss of earning capacity
If you have questions about the full range of hidden costs you may face in your Georgia accident claim, Flanagan Law can discuss how this may impact your specific case.
Why Knowing Accident Costs is Important for Your Claim
Whether you are planning on accepting a settlement offer or pursuing litigation through a lawsuit, knowing the full costs of your accident is critical to the long-term success of your case. One of the tasks your accident attorney can help you with is evaluating your injury claim. To do this, your lawyer will consider all the costs, obvious and hidden, associated with your accident and injuries.
Having a clear picture of how the accident will impact you in the future, as well as currently, ensures that you know what a fair settlement offer looks like and that you can pursue an appropriate amount if you file a suit. Focusing only on your current expenses and costs will likely leave you without the necessary resources to fully recover and adapt to your life after an accident.
Working with an Attorney to Calculate Hidden Costs
When you work with Flanagan Law, you can be sure that our attorneys have considered the impact of your accident on every part of your life. Current costs, future expenses, psychological trauma, employment options, and several other factors are combined to calculate the value of your accident claim, ensuring you know what a fair and reasonable offer looks like.
Contact us to schedule a free consultation.
