In-vehicle technologies are supposed to make drivers safer and reduce the chances of serious or fatal injuries when accidents happen. Unfortunately, despite the advances in technology, car accident costs are actually rising and not falling. A recent study released by Insurance Research Council revealed that there has been a continued increase over the past 10 years of auto insurance claim costs per vehicle insured.
Rising auto insurance claim costs mean victims of collisions are suffering greater damages and more significant financial losses. The more serious the losses you experience in car accidents in Atlanta, the more important it is for you to speak with an attorney to pursue a claim for monetary compensation. An attorney can assist you in dealing with the insurance company who must pay your crash bills so you can fight for the money to move on after a crash has changed your life.
Atlanta Car Accident Injuries Leading to More Costly Auto Insurance Claims
According to Insurance Research Council, the frequency of claims has declined in recent years but the amounts paid out have gone up. From 2005 to 2013, there was a 14.5 percent reduction in bodily injury claims being made nationwide. During this same period of time when claims rates fell, however, the average cost paid out per bodily injury liability claim rose from $11,738 to $15,506. This is a 32.1 percent increase in the money that is being paid out to compensate for bodily injuries.
Personal injury protection, or no fault claims, also declined in number. There was a 15.6 percent decline in the frequency of claims made under PIP insurance coverage. These claims, which are no fault claims, dropped from 1.49 claims paid per 100 insured vehicles to 1.25 claims paid per 100 insured vehicles. The increase in payouts, however, was even more substantial than in the category of bodily injury claims. The average amount of money paid out for personal injury protection claims rose from $5,802 to $8,017.
The decline in the frequency of claims has come at a time when crash rates have fallen due to tough economic conditions, but the economy is turning around and National Highway Traffic Safety Administration has announced crash rates are rising, with an 8.1 percent increase in fatalities in 2015 compared with 2014 and a 4.4 percent increase in the fatality rate per 100 million miles traveled. This means insurers could soon end up paying out even more because costs of injuries have gone up and the number of claims may rise instead of continuing to decline.
As insurers face more claims, they may fight even harder to avoid paying out the full amount policyholders should be entitled to get after getting hurt. Victims of collisions need to understand exactly what their rights and obligations are when making insurance claims and should ensure they have professional legal representation. A lawyer can deal with an insurer for you and can bring legal knowledge and top-notch negotiating skills to the table when trying to get you the compensation you deserve after a crash.
The Atlanta car accident lawyers at Sammons & Carpenter, P.C. can represent victims after a collision. Call today at 404-991-5950 or contact us online to schedule your free consultation.