Cost of Car Accidents per Year

Across the country, millions of drivers navigate the roads as part of regular life. They share the highways with large trucks, cyclists, pedestrians, and motorcyclists. This situation makes auto accidents and the resulting bodily injuries and fatalities nearly inevitable. While the toll on humans is more than devastating, the cost of car accidents per year is also a big hit to the economy.

According to the National Highway Traffic Safety Administration (NHTSA), the United States records a staggering $277 and $594 billion loss in economic and societal impacts due to car crashes. The latter includes the pain, suffering, and deaths caused by car accidents.

If you or someone you love has been injured in a car accident through no fault of your own, a Houston Car Accident Attorney can help you get compensated.

FACTORS THAT CONTRIBUTE TO CAR ACCIDENT COSTS

A significant amount of car accident costs is paid for by society rather than by individuals. Over 75 percent of these losses are reconciled through insurance premiums, taxes, and other congestion-related expenses. According to an NHTSA study, this price burden can be attributed to several behavioral factors. They include:

  • Speeding –Around one in every six drivers will get a speeding ticket this year, which equates to roughly 41 million tickets. If you do the math over $6 billion dollars each year is spent on speeding ticket fines alone.
  • Drunk Driving – Accidents involving a driver driving under the influence of alcohol set back the country $49 and $199 billion in economic and societal costs respectively. More than 90 percent of these losses were linked to drivers who had a blood alcohol concentration of .08 or higher.
  • Distracted Driving – Distracted drivers contributed to $46 and $129 billion in economic and societal costs respectively. These numbers represent 17 and 15 percent of the total in each case.
  • Seatbelt Use – According to the study, seatbelt use saved the country $69 billion in injury-related costs. Accidents involving unbelted vehicle occupants recorded a $14 and $72 billion loss in economic and societal loss respectively.
  • Other road users – Bicyclists and pedestrians accounted for $19 and $90 billion in economic and societal loss respectively.

REDUCING THE COST OF CAR ACCIDENTS

Most of the factors contributing to the cost of car accidents per year, like speeding and drunk driving, are avoidable. By enforcing abidance to traffic laws and improving driving circumstances, states can decrease the rate of car accidents. This will, in turn, reduce the impact of crashes on the economy and society as a whole.

The United States is also making strides towards driverless cars. This is considered another surefire way to curb auto accidents and reduce road fatalities.

TALK TO A HOUSTON CAR ACCIDENT ATTORNEY

The country recorded 40,000 roadway accident deaths in 2016. This was one of the deadliest years on the roads in nearly ten years. Even sadder, most of these accidents could have been avoided.

Every state in the country has laws protecting the victims of car accidents. These systems allow injured parties to seek damages for any bodily harm and property damage.

If you have been in a car accident in Texas, you can take advantage of these laws. Contact Husain Law + Associates, P.C., to discuss your rights with an expert Houston Car Accident Attorney.

Source:

https://crashstats.nhtsa.dot.gov/Api/Public/ViewPublication/812013

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