The Social Cost of Vehicle Accidents: Everything You May Not Know

There is no question that being involved in a motor vehicle accident can take a huge toll on those involved. It can also impact their families. However, there is one entity that many people don’t consider after a car accident occurs – society.

The fact is, there is a social cost that goes along with car accidents which is both economical based, and noneconomical. While you can hire a personal injury attorney to help you with your car accident situation, the same isn’t true for the rest of society.

Keep reading to learn how car accidents are affecting society here.

An Increasing Insurance Premium Rate

There are many accidents that result in an increase to ever driver’s insurance premium. This is true regardless of if a driver has ever even been involved in an accident themselves.

Medical Care and Long-Term Care Costs

According to information from the CDC (Centers for Disease Control and Prevention), on average, the lifetime medical costs for car accidents that resulted in serious injuries is $18 billion – and growing each year.

Increased Time Off Work

Injuries caused by motor vehicle accidents lead to a million days (or more) in the hospital annually in the United States. What this means that there are one million days of injured individuals being off work and this is time they are unable to contribute to the nation’s economy.

Reduced Ability to Earn Because of Long-Term Disabilities or Impairments

If you suffer some type of permanent impairment, you may not be able to go back to your former job. This may result in you having to take a pay cut compared to the job you had before the accident. As time passes, this is going to result in an entire lifetime of reduced earning potential.

The Loss of Life

If a person passes away due to a car accident, the family members and friends of that person are going to feel and experience the loss most acutely. However, the loss is also going to affect the economy. Society is losing the financial contributions that the person used to make.

The Court System Expenses

There are significant costs with both criminal and civil cases that occur due to a vehicle accident. In fact, these situations often inundate the court systems, resulting in the court’s resources being diminished.

The Noneconomic Impact of Car Accidents on Society

Some of the noneconomic ways that an accident affects society include:

  • Lives that end too soon
  • The inability of a person to reach their full potential
  • Loss of guidance for future generations
  • The loss of what those individuals would contribute to society in the future

You should take steps to reduce the possibility that you will be in or cause an accident. However, if you are injured due to someone else’s negligence, be sure to contact our law team at Anzellotti, Sperling, Pazol & Small by calling (330) 792-6033.

Additional Reading:

Important Habits to Help You Avoid the Most Common Type of Collision in Ohio