The Cost of Car Accidents in South Carolina

Every year, Americans pay millions of dollars as the result of car accidents. The damage to vehicles and the injuries sustained by the people involved can have catastrophic and extremely costly effects on an individual’s life if they are unlucky enough to be involved and suffer through one of these events. In a single year, car accidents cost as much as $1 trillion for Americans due to the loss of productivity and the loss of life that happens after these traffic accidents. Even routine fender benders can cause severe injury to those involved and cost thousands of dollars in hospital bills and recovery.

While that figure sounds like a lot of money lost by a large group of people, it can be helpful to break down who is paying the individual costs. After an accident, there is a multitude of ways to pay for necessary care and despite what most people think, your insurance is not the only source. In fact, in most cases, an individual can expect private insurers to pay up to half of the cost of an accident. The rest of the expenses are covered by non-insurance companies, organizations, and individuals. Approximately 16 percent of the total costs of a single crash is paid by other motorists, charities, or health care providers, and federal revenues cover another 6 percent of the costs. State and local revenues will also pay for another 3 percent.

That leaves the victim of the average car accident responsible for about 25 percent of the total cost which can be a considerable burden on the average driver. After a car accident, a person could face a significant amount of medical bills, depending on the extent of their injuries. If the injuries are severe enough, the victim could be unable to work, resulting in lost wages, making any financial issues resulting from the crash even harder to endure. There could be costly damage done to the victim’s car that will need to be repaired as well.

How Many Car Accidents Are There in South Carolina?

In 2016, 941 fatal car accidents occurred in South Carolina. Another 40,187 car accidents caused injuries to the people involved in the crash. On top of that, there were several thousand car accidents in which the only damages that occurred were to property. These accidents totaled 100,471 in 2016.

Not only are there thousands of car accidents every year, but these accidents are on the rise. Since 2015, the number of fatal crashes has risen more than 3 percent. The number of crashes that cause injuries has increased by more than 6 percent, and the accidents that damaged property have grown by 5.5 percent.

Have You Been Involved in a South Carolina Car Accident?

It can be challenging to know what you need to do in the aftermath of a car accident. The financial troubles can be overwhelming. We at The NYE Law Group are here to help. Our attorneys can guide you through this process, determining if you can bring a claim against a negligent party in your accident. Call us at (912) 200-5230 to discuss your case with our experienced attorneys. We can give you a free case evaluation to determine your next steps.