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Accidents and Auto Insurance

Updated: Sep 20

The Facts


We have all heard the phrase “accidents happen”. According to Forbes magazine, the average person will be in 3 to 4 car accidents during their life. Of course, the severity of those accidents varies. The Association for Safe International Road Travel keeps stats on these accidents. They report that 1.3 million people die in car crashes each year. Additionally, vehicle crashes injure or disable 20 to 50 million.


According to the Rocky Mountain Insurance Information Association (RMIIA), police-reported nearly 6.3 million car accidents in 2016. Still, around 10 million crashes are not reported every year. Therefore, every time you climb into your car, you are at risk of being in an accident. It can happen to anyone at any time.


The Costs


Moreover, even in non-fatal crashes, the costs are serious. Injuries from car accidents often leave people unable to work. In addition, the quality of life becomes lower. On top of that, victims can find the cost of auto repair far too high. Even with insurance, there is much to consider. It is key to look at the amount of the deductible and the extent of the coverage. Without insurance, paying expenses can be impossible. Many people are unable to make the needed fixes for their cars.


In 2013, the RMIIA determined that the average collision claim was upwards of $3,000. Auto claims for property damage were around the same amount. The average amount for bodily injury claims was over $15,000. Private insurance companies only paid about 50% of costs from accidents. Consequently, this left victims responsible for roughly 26%. As a result, the type of auto insurance coverage you have is crucial.


The Takeaway



If you had the misfortune of being involved in a car accident tomorrow, how much would your insurance cover? What would you be responsible for paying before their coverage kicks in? Would you be able to afford it? These are important things to consider to make sure that you are prepared for the unexpected. Sometimes, it is worth paying a few dollars more in monthly payments to make sure that you have good coverage when an accident does happen. Remember, with car accidents, it is more a question of when rather than if. So, compare quotes today to protect yourself from letting a car crash ruin your life.


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