Understanding the Real Economic Costs of an Arizona Car Accident
Over and over, experienced Arizona car accident lawyers see the real economic costs of a car accident. They know that the price of a crash is much higher than many Arizona drivers realize – and that a family can be affected by these costs for years after the accident.
The Arizona Department of Transportation’s 2014 Crash Facts Report gathers many financial numbers related to a car accident into a single analysis, making it easy for Arizona drivers to determine at a glance what a crash might cost them or another injured person. Here is an overview:
- Car accidents cost residents of the state of Arizona an estimated total of $3.02 billion dollars each year. According to Reader’s Digest, this is enough money each year to purchase three major-league baseball teams, up to ten commercial planes, or an entire chain of islands.
- The average cost of a single car accident death in Arizona is $1.53 million. This amount includes medical expenses, funeral and burial costs, and the value of lost wages, investments, and services the deceased person would’ve provided to the family.
- An incapacitating injury costs an Arizona family $76,398 over the course of the injured person’s life, on average. A non-incapacitating injury comes with a hefty price tag as well: an average of $24,480 for medical care, therapy and treatment, and lingering impairments.
- Even a car accident that doesn’t cause any injuries costs an average of $9,486 in property damage – money few hardworking Arizona families can spare.