Even though motorbikes account for only 3% of registered vehicles, the National Highway Traffic Safety Administration (NHTSA) estimates that they are responsible for up to 14% of traffic-related deaths.
Since motorcycles offer less protection than other vehicles, motorcyclists face additional risks on the road. Due to this, motorcyclists can suffer severe injuries even when riding carefully because they don’t have the added protection that a car provides, making motorcycle accidents particularly dangerous.
A motorcycle accident can result in severe and permanent injuries, such as broken bones, road rash, traumatic brain injuries, and spinal cord injuries. Because of the greater risk of serious injuries, the costs of a motorbike accident might be exceedingly high.
Very few people think about the costs of an unforeseeable crash. However, if you or a loved one is injured in a motorcycle accident, those prospective costs that you never imagined quickly become a reality. You quickly learn that motorcycle accidents are expensive, and they may have a significant impact on your finances.
Find out how much a motorcycle crash costs below.
Non-Fatal and Fatal Accident Costs
It’s tough to put a specific cash figure on the cost of a motorbike accident since many variables are at play. The severity of the rider’s injuries is the most crucial aspect in deciding the price.
You should hire an experienced motorcycle crash attorney to ensure your case won’t be negatively affected. You can contact a personal injury lawyer at Abels & Annes, P.C to increase your chances of winning your claim.
The average cost of a fatal motorcycle accident is roughly $1.2 million, with much of the expense due to emergency and intensive care unit treatment of the rider’s last injuries. A non-fatal motorbike accident costs between $2,500 and $1.4 million, but the cost is generally higher if the rider has a severe but non-fatal brain injury.
Motorcycle crashes frequently end in the rider’s significant injuries. Motorcycle riders may find that recovering damages for their injuries requires both knowledge of their long-term prognoses and experience negotiating with the insurance company and defense lawyer of the at-fault party.
Factors That Affect the Cost of a Motorcycle Accident
Because every case is different for each victim, and various factors might affect the overall cost of your incident, there is no set estimate for the cost of being in a motorbike accident. One thing is clear, however: motorbike accidents are expensive.
Depending on the extent of your accident, you will have to spend anywhere from tens of thousands to millions of dollars. Below are some factors that affect this cost.
Intangible Losses
Invoices or receipts do not accompany some forms of injury. For instance, an individual who has lost a limb or become paralyzed might not be able to continue engaging in his favorite activities due to his disability.
Although there is no paper trail to show the monetary worth, this loss is true and real. It is also possible to suffer disfigurement from extensive or visible scars, also called non-economic losses.
After a motorcycle accident that results in life-altering injuries or fatalities, post-traumatic stress disorder (PTSD) is common. Some people also suffer from persistent anxiety or sadness due to catastrophic injuries.
Bills Related to Medical Care
Medical bills are usually the most expensive part of a motorcycle accident, and they’re even more costly if a brain injury is involved. Hospital expenses, doctor appointments, surgery costs, prescription medicine expenditures, and ongoing care for severe/permanent injuries are all examples of medical costs linked with a motorbike accident.
When calculating the exact cost of your motorbike accident, ensure to factor in all the medical expenses you’ve already experienced and will continue to pay in the future. Long-term injuries might result in high medical costs, which is why you should include them in all of your medical expenses when seeking to evaluate your accident.
Damage to Property
Property damage will certainly impact the overall cost of your accident, and you must include any motorcycle damage in your claim. Based on the intensity of the accident, your bike may require expensive repairs or possibly replacement. Keep any receipts and estimates related to the restoration of your motorbike since this proof will be important when making a claim.
Loss of Income
Regrettably, catastrophic motorcycle accidents might prevent you from returning to work for weeks, if not months, while you heal. If you were severely incapacitated due to the accident, you might never be able to work in the same manner again.
Calculating lost income might be crucial when determining the cost of your motorcycle accident. Depending on your job and how you are paid, you must add up all your missed hours and multiply them by your hourly wage.
However, calculating your missed income may be more difficult if your job is predominantly commission-based. You must assess how much money you would have earned during your time off from work, as missed earnings can significantly impact your finances, and you do not want to underprice the accident’s cost.
Final Thoughts
Don’t try to fight the insurance companies yourself if you have suffered pain and distress due to a motorcycle accident. Several factors ultimately determine the expenses of a motorbike accident. This makes working with a motorcycle accident attorney all the more important, as they can help you estimate the worth of your claim.
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