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The Cost of Car Accidents: Pain for Families & Financial Burden for Society

Toy cars in an accident on a background of 100 dollar bills and stacks of golden coins.

A new study reveals the high financial cost of car accidents in America

Car accidents in South Carolina can be devastating for families who lose loved ones or face serious injuries. They also have a significant economic impact on society.

According to a National Highway Traffic Safety Administration report, traffic crashes cost American society $340 billion in 2019. During that same year, over 36,000 people were killed in the United States. In addition, there were 4.5 million injuries and 23 million vehicles sustaining damage.

The report by the NHTSA puts a spotlight on the devastating and tragic nature of car accidents in South Carolina and across the nation. The financial impact of crashes does not only fall on car accident victims who face medical bills and expenses related to damaged vehicles; the costs are passed on to people not directly involved in accidents. They are seeing higher insurance bills and taxes. A car accident can lead to road congestion, which translates to higher fuel bills and loss of time for those stuck in traffic.

Car accidents linked to medical bills and more

According to the NHTSA, the financial impact of car accidents includes the following costs:

  • Medical
  • Lost productivity
  • Legal and court
  • Emergency services
  • Insurance administration
  • Workplace losses
  • Congestion impact on fuel costs, lost time, and damage to the environment

The NHTSA recommends using the “safe system approach”: safer roads, safer people, safer vehicles, safer speeds, and better post-crash care.

What causes accidents in South Carolina?

Accidents can be prevented, which can save lives and money. The NHTSA lists some of the top factors in car accidents that led to deaths, severe injuries, and property damage:

  • Drunk driving: Alcohol-related crashes account for 20 percent of all crash costs in the United States
  • Distraction: Distracted driving accounts for 29 percent of all crash costs
  • Speeding: About 14 percent of all crash costs are linked to driving too fast.

How do you recover compensation for a crash that wasn't your fault?

If you are in an accident through no fault of your own, you might find yourself facing medical bills. You may lose income because of injuries. If you lost a loved one, you may not only feel devastated but also worried about the economic impact of the death.

Unfortunately, insurance companies representing at-fault drivers may attempt to downplay the impact of the accident. Instead of paying fair compensation, they may offer a quick settlement and make you think it’s the best they can do.

Contact a South Carolina injury attorney

At Twenge + Twombley Law Firm, our car accident attorneys know how insurance companies play games with accident victims. They typically want to keep money out of victims’ pockets to boost their bottom lines.

That’s why it’s wise to contact one of our experienced lawyers who can stand up for you and fight for the maximum compensation you deserve.

Don’t let the insurance companies take control. Instead, let us represent you and advocate for your case while you focus on your recovery. Contact Twenge + Twombley today for a free consultation. We work on a contingency fee basis, which means you pay nothing unless we win your case.

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