Victims of traffic accidents have one thing in common: medical expenses. Even if the visit to the hospital is short and turns up no major injuries, the victim is likely to receive a bill for thousands of dollars in the mail.
The average cost of a car accident in the United States is around $820 per person when averaged out from the $230.6 billion spent annually for collisions nationwide. There are many factors that affect the cost of the incident including:
- The severity of the collision
- How many people were hurt in the crash
- The value of property damaged in the collision
- The physical injuries suffered
There are other factors that may influence your case as well.
Spending just a few days in the hospital can cost tens of thousands of dollars. For that, you’ll want to file a claim against the other driver’s insurance and do what you can to make sure you don’t settle until you know how much you’ll spend now and in the future.
Typical settlements are approximately three times the cost of your medical bills. For example, if you have $20,000 in medical bills, it would be typical to see a $60,000 settlement. The court determines the portion of the settlement that will go toward your pain and suffering, which is based on the extent of your injuries, the length of your therapies and other factors.
Our site has more on what to expect if you’re a victim of a crash. Financially, crashes can be devastating, so it’s necessary to go after the money you need.