- Car accidents in the U.S. average around $15,000 in costs, including medical bills, repair costs, and insurance premiums.
- Several laws protect from car accident costs, including No-Fault Car Insurance, Statute of Limitations, and Liability Insurance.
- Uninsured Motorist Coverage and Personal Injury Protection (PIP) provide further financial safeguards in car accidents.
- Legal professionals can help maximize compensation, explain legal rights, and advise on car accident-associated risks.
- Gathering evidence, knowing a legal professional, and timely insurance claim filing are crucial steps after a car accident.
Car accidents can happen to anyone, at any time and anywhere. While prevention is always better than the cure, accidents sometimes just cannot be anticipated or avoided. The physical, emotional, and financial toll of these accidents can be quite devastating, even life-altering in some cases. However, it is important to know that laws have been enacted to protect people from the expenses of car accidents. Here’s what you need to know about the cost of car accidents in the country, laws protecting you from such costs, and what you should do if you ever get into such an accident.
Car Accident Cost in The U.S.
It’s estimated that the average cost of a car accident is around $15,000. This includes medical bills, repair costs, insurance premiums, and other associated expenses. If the accident is severe enough to involve fatalities or disabling injuries, the cost can go up to hundreds of thousands of dollars. It’s important to note that this figure considers any emotional distress suffered by those involved in the accident.
Laws Protecting You From Car Accident Costs
Fortunately, the law provides several protections for those involved in car accidents. Here are some of them:
1. No-Fault Car Insurance
The no-fault insurance law ensured prompt payment of medical and hospital bills, lost earnings, and essential services expenses. It entitles victims of car accidents to receive compensation from their insurance company regardless of who caused the accident. This means that your insurance policy automatically covers you in the event of a car accident, regardless of who was at fault. This insurance policy covers medical bills, wage loss, rehabilitation, and funeral expenses.
2. Statute of Limitations
The statute of limitations is a law that specifies the length of time within which legal action must be taken after an incident. In the case of car accidents, the statute of limitations is three years from the accident date. This means that victims have three years from the accident date to file a lawsuit against those responsible. Failing to file a lawsuit within this time frame usually results in the victim forgoing the right to sue.
3. Liability Insurance
Liability insurance protects drivers from the expenses associated with accidents that they cause. It guarantees that an at-fault driver can compensate other parties affected by the accident when it is proven that the other parties suffered damages. This insurance covers various costs, including medical bills, property loss, legal fees, and lost wages.
4. Uninsured Motorist Coverage
Uninsured motorist coverage is designed to protect drivers in accidents caused by uninsured motorists. It covers the driver and other parties affected by the accident if the at-fault driver lacks insurance coverage. With this insurance policy, your insurance company provides coverage for any damages resulting from an accident an uninsured driver caused.
5. Personal Injury Protection (PIP)
Personal injury protection (PIP) is a no-fault insurance policy that covers drivers in the event of car accidents. It covers a range of expenses, including medical bills and lost wages. PIP differs from other insurance policies in covering expenses regardless of who caused the accident. It is mandatory in some states and highly recommended for all drivers.
What to Do if You’re Involved in a Car Accident
Taking the necessary steps after being involved in a car accident is important. Here are three tips:
Know a Legal Professional
You must have someone you can contact if you ever get into an accident. An experienced auto injury lawyer can give specific benefits. First, they can help you get the maximum compensation you deserve. Second, they can also explain your rights and legal options clearly. Finally, they can advise you on how to protect yourself from potential risks associated with car accidents.
Gather Evidence
If possible, gather evidence at the scene of the accident, such as photos of the area and vehicles involved in the crash. You should also gather the contact information of those involved in the accident and any witnesses. This can be helpful when filing a claim or taking legal action against those responsible for the accident.
File an Insurance Claim
It is essential to file an insurance claim after a car accident. Depending on your coverage, you may be entitled to various forms of compensation. Your insurance company should be able to guide you through the process and provide support for your claim.
It is important to remember that accidents can happen anytime, anywhere. By understanding the cost of car accidents in the country and knowing the laws that protect you from such costs, you will be better prepared to face any unexpected situations that may arise from a car accident.
