This month, the National Highway Traffic Safety Administration (NHTSA) issued a new report revealing that the cumulative costs of a motor vehicle crash in one year amounted to a whopping $340 billion in the United States. The study, using data from the 2019 calendar year, also revealed that these accidents amounted to 36,500 deaths, 4.5 million injuries and 23 million damaged vehicles.
Study Reports That Traffic Accidents Cost America $340 Billion
The financial repercussions from these statistics are far-reaching and the total dollar amount equated to $1,035 for each person in the United States. That is roughly 1.6% of the U.S. gross domestic product for 2019.
Losses factored into the report include medical expenses, lost productivity, legal and court costs, emergency service costs, insurance costs, property damage, and workplace disruptions. The primary factors cited for accidents include alcohol, distracted driving, failure to wear a seatbelt, and speeding.
As an experienced personal injury law firm, these numbers come as no surprise to us. Each day, we see and hear first-hand accounts of how accident-related injuries impact livelihoods, finances, and relationships, as well as the physical and mental health of our clients.
Most people don’t realize how important a personal injury attorney can be until they are in the unfortunate position of needing one. For example, a complicated part of a car accident claim is making sure a client receives fair compensation for their injuries. Insurance companies are in the business of making money and are skilled at convincing accident victims to accept low settlement offers. Our job is to ensure each client is fairly and justly compensated for their injuries to help offset the enormous financial toll placed on their lives.
Don’t become another statistic. If you or a loved one have been involved in an accident within the State of Tennessee, contact our Nashville-based office at 615-244-2111 for a free and confidential consultation. We will be happy to review your case at no cost to you. We work on a contingency basis, meaning there is no cost to you unless we reach a settlement or jury verdict award on your behalf. .
Stay safe out there.
Because we care…