Car accidents happen more often than people realize. And, we have seen bodily injury claims amount to $200,000! You may wonder, how does a car accident end up costing that much money? Well, let me give you a realistic scenario that may help you understand.
Vehicle 1 impacts Vehicle 2 after running a stop sign. Vehicle 1 going 50 miles per hour makes a perpendicular collision to vehicle 2, causing it to slide and roll. Vehicle two consists of one driver and two passengers. Vehicle rolling generally causes a neck injury, resulting in two months of physical therapy for each individual. The impact causes the driver to dislocate their shoulder, resulting in one month of therapy, rotator cuff surgery, and six more months of therapy. Front seat passenger is middle aged. This rolling and jarring of the vehicle causes a vertebral disc to herniate, resulting in corrective therapy for three months. The back seat passenger's left arm collides with the window, causing a break. The following is the resulting medical cost for each individual.
Driver (minimal costs based on no extraneous complications during surgery and therapy)
Initial Hospital Visit: approximately $4,000
Neck Injury Therapy: $250 per day, 3 days per week, 24 visits = $6,000
Invasive Rotator Cuff Surgery: $17,000
Shoulder Therapy: $250 per day, 3 days per week, 72 visits = $18,000
Total Minimum cost = $45,000
Front Seat Passenger
Initial Hospital Visit: approximately $4,000
Neck Injury Therapy: $250 per day, 3 days per week, 24 visits = $6,000
Therapy for herniated disc: $250 per day, 3 days per week, 36 visits = $9,000
Total Minimum cost = $19,000
Back Seat Passenger
Initial Hospital Visit: approximately $4,000
Surgery on fractured olecranon (elbow) : $7,000
Neck Injury Therapy : $250 per day, 3 days per week, 24 visits = $6,000
Therapy for elbow: $250 per day, 3 days per week, 24 visits = $6,000
Total Minimum cost = $23,000
Total Minimum Cost for Bodily Injury = $87,000
As you see in my example above, the cost of bodily injury in a automobile accident adds up quickly. Accidents that result in death generally cost up to $200,000 per fatality. So, when you look at your auto insurance policy, check to see what your bodily injury coverage is. Most individuals who are on a tight budget overlook the amount of coverage and just go for the state minimum. The state minimum for bodily injury coverage is $25,000 per person and $50,000 per accident. As you see in my example above, someone you injure will have to hope that they have uninsured motorist coverage to cover what your insurance policy will not. If not, you can look forward to a lawsuit resulting you paying out way more than you ever expected when you purchased your insurance policy.
So, the lesson for today, pay attention to your bodily injury coverage on your auto insurance policy. Our agency standard is to cover our clients with no less than $100,000 per person and $300,000 per accident. This insures that your insurance will cover you and your liability without having to worry about getting sued. Make the decision that best suits what you can afford, but make sure you are well protected. For any advice on how to save or how to find good rates for standard coverages, send me an email at [email protected].
Vehicle 1 impacts Vehicle 2 after running a stop sign. Vehicle 1 going 50 miles per hour makes a perpendicular collision to vehicle 2, causing it to slide and roll. Vehicle two consists of one driver and two passengers. Vehicle rolling generally causes a neck injury, resulting in two months of physical therapy for each individual. The impact causes the driver to dislocate their shoulder, resulting in one month of therapy, rotator cuff surgery, and six more months of therapy. Front seat passenger is middle aged. This rolling and jarring of the vehicle causes a vertebral disc to herniate, resulting in corrective therapy for three months. The back seat passenger's left arm collides with the window, causing a break. The following is the resulting medical cost for each individual.
Driver (minimal costs based on no extraneous complications during surgery and therapy)
Initial Hospital Visit: approximately $4,000
Neck Injury Therapy: $250 per day, 3 days per week, 24 visits = $6,000
Invasive Rotator Cuff Surgery: $17,000
Shoulder Therapy: $250 per day, 3 days per week, 72 visits = $18,000
Total Minimum cost = $45,000
Front Seat Passenger
Initial Hospital Visit: approximately $4,000
Neck Injury Therapy: $250 per day, 3 days per week, 24 visits = $6,000
Therapy for herniated disc: $250 per day, 3 days per week, 36 visits = $9,000
Total Minimum cost = $19,000
Back Seat Passenger
Initial Hospital Visit: approximately $4,000
Surgery on fractured olecranon (elbow) : $7,000
Neck Injury Therapy : $250 per day, 3 days per week, 24 visits = $6,000
Therapy for elbow: $250 per day, 3 days per week, 24 visits = $6,000
Total Minimum cost = $23,000
Total Minimum Cost for Bodily Injury = $87,000
As you see in my example above, the cost of bodily injury in a automobile accident adds up quickly. Accidents that result in death generally cost up to $200,000 per fatality. So, when you look at your auto insurance policy, check to see what your bodily injury coverage is. Most individuals who are on a tight budget overlook the amount of coverage and just go for the state minimum. The state minimum for bodily injury coverage is $25,000 per person and $50,000 per accident. As you see in my example above, someone you injure will have to hope that they have uninsured motorist coverage to cover what your insurance policy will not. If not, you can look forward to a lawsuit resulting you paying out way more than you ever expected when you purchased your insurance policy.
So, the lesson for today, pay attention to your bodily injury coverage on your auto insurance policy. Our agency standard is to cover our clients with no less than $100,000 per person and $300,000 per accident. This insures that your insurance will cover you and your liability without having to worry about getting sued. Make the decision that best suits what you can afford, but make sure you are well protected. For any advice on how to save or how to find good rates for standard coverages, send me an email at [email protected].
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