Insurance Research Council has released a new report on the costs of auto accident insurance claims made after people sustain injuries in car accidents. According to Auto Insurance Center, the report indicates that claim costs are rising significantly — even as vehicle safety features have improved. There are many reasons why costs are rising, but the bottom line is that victims injured in accidents are being forced to spend more to get care when they get hurt. This is bad news for victims who need to ensure they are not left with uncompensated financial losses.
After a collision, victims may have some of their medical bills and other losses paid by their own personal injury protection (PIP) or victims may have some or all of their costs covered by the insurance of a driver whose negligence caused the collision. Victims need to know which insurer(s) should pay the bills and must make sure they are dealing aggressively and strategically with insurers so they can get the money they need to meet higher costs. Naples auto accident attorneys can provide representation to victims and help them get the funds they need to pay for their damages.
Rising Costs of Car Accident Injury Claims Means Victims Face Greater Potential Loss
The Insurance Research Council showed an increase in costs for both liability claims and personal injury protection claims (or no-fault claims, as they are often called). The average cost paid in a bodily injury liability claim was $11,738 in 2005 and was up to $15,506 in 2013. This is a 32.1 percent cost increase in a decade. The average cost paid in a personal injury protection claim in 2005 was $5,802 but jumped to $8,017 in 2013. This was an even greater increase than the rise in bodily injury claim costs, with a 38.2 percent jump in the amount paid out by personal injury protection policies.
Some of the potential reasons for the higher costs include an increased use of more expensive medical services (like MRIs), as well as the fact that health care inflation costs have significantly outpaced the growth in the consumer price index. Regardless of why the costs are going up, however, it has become more important than ever for victims to be informed about how best to pursue a case for compensation after a crash.
When a victim is hurt in a collision because of another driver’s negligence and the victim makes a bodily injury liability claim, the money paid to the victim should be sufficient to compensate for medical expenses, wage loss, pain, emotional suffering and distress, and other relevant economic and non-financial damages.
Getting fair compensation for the losses is essential now with costs rising, as victims could otherwise be forced to pay out of their own pockets. Auto accident attorneys help victims of crashes to seek full coverage for losses, including costs related to ongoing medical treatment. A fair negotiated settlement or a reasonable jury verdict could make all the difference when it comes to affording the rising cost of post-collision care. Contact The Kelleher Firm today for help.