Study Determines Cost of Injury Car Accidents
After you’re in an accident, you may be wondering about how much you should expect to spend on your medical bills and car repairs, or if you’ll have to lose work while you recover from your injuries. When you’re facing these expenses, you may feel tempted to accept a quick settlement offer from the insurer or party that caused your injuries. However, before being quick to take cash, make sure you have an understanding of the sorts of costs you can expect to arise as a result of your personal injury accident.
Costs reach higher than you might first guess
Studies conducted by the National Safety Council (NSC) and Centers for Disease Control (CDC) offer some insight into the cumulative costs of motor vehicle and other personal injury accidents. According to a study of injury accidents in 2010, the CDC found that 178,505 people were hospitalized after being injured as an occupant in a motor vehicle accident that year. On average, each individual faced $54,197 in medical expenses, and a work loss cost of nearly $120,000.
Even accidents like slips and falls can come with huge costs. According to the same 2010 study, 992,452 individuals were hospitalized as the result of a fall. Average medical costs for fall injuries reached $38,925, with an additional $56,690 in lost work costs.
After an accident caused by another person’s negligent or reckless behavior, you’re entitled to compensation for losses in quality of life as well. Compiling all economic costs, including lost work, property damage, and medical expenses, along with a calculation of lost quality of life, the NSC determined that the total costs of a disabling injury reaches over $1 million, with a disabling injury defined as resulting in the victim having least one day of being unable to carry out their regular duties.
Take time to reach a good result
Immediately after your slip-and-fall or car accident, it’s not always obvious how much you should expect to pay for your injuries or property damage. Insurers and negligent parties use this fact to their advantage by making settlement offers quickly after an accident. This is one of the many reasons that it’s important to seek legal counsel on your claims before agreeing to a settlement. Not only can an attorney use their years of experience trying personal injury cases to estimate the expenses you should expect to incur over the course of your lifetime, but they can also help ensure that you receive the full amount of damages you’re owed.
If you or a loved one has been hurt in a slip-and-fall, car accident, or other personal injury accident in or around Indiana, contact the dedicated and trial-ready Indianapolis personal injury law firm Lee Cossell & Feagley, LLP for a free consultation on your claims, at 317-631-5151.