Understanding the financial impact of traffic accidents

Written on behalf of Abramson Smith Waldsmith LLP

Incredible Attorneys Who Actually Care.

Meet the Team →
  • This field is for validation purposes and should be left unchanged.

On an annual basis, an unacceptable amount of motor vehicle accidents take place. In San Francisco, and in other California cities, these accidents keep occurring for many reasons, such as drunk driving, speeding and inattentive drivers, to name only a few. Sadly, these crashes claim lives, generate lifelong emotional pain for families and leave victims with injuries that interrupt their life in countless ways. However, these collisions also have a significant financial impact as well.

According to the National Highway Traffic Safety Administration, traffic accidents in the U.S. generated $242 billion in costs over the course of 2010. However, when peoples’ quality of life is taken into consideration (job loss, etc.), costs during this year exceeded $800 billion. Some of the costs are brought on by lost productivity, property damage, funerals, traffic congestion and medical treatment.

The Occupational Safety and Health Administration states that employers lose $60 billion per year as a result of motor vehicle accidents. If a worker loses his or her life, the person’s employer may have to spend over $500,000. However, even auto crash injuries are costly for companies, since the average traffic accident injury leads to $74,000 in costs for an employer. These costs, which include missed productivity in the workplace, legal fees, damaged property and medical treatment, have a major impact on companies across the country.

Above all, traffic accidents upend lives and create suffering that never should have arisen in the first place. While preventing an accident after-the-fact is impossible, victims and their families should try to successfully manage their circumstances afterwards.

Jeffrey R. Smith

Jeffrey R. Smith

Managing Partner

Robert B. Waldsmith

Robert J. Waldsmith

Partner, 1999

William B. Smith

William B. Smith

Partner, 1978

View All Videos

Video Center
01 06

View All Practice Areas

Core Practice Areas

Motor

Vehicle Accidents

There are two things to establish in any motor vehicle accident case: the cause of the accident (fault) and the full cost of the injuries and losses. As we prepare your case, we will investigate both of these.

Cata-
strophic

& Serious Injuries

People suffering from a brain injury, spinal cord injury or other severe injury will require extensive medical treatment, rehabilitative therapy and other long-term care.

Sexual

Abuse & Molestation

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Sports

injuries

Claims related to sports and recreation injuries can be complicated. These cases often include issues involving waivers and the “assumption of risk” defense.

Brain

& Spine Injuries

When you or a loved one suffers a traumatic brain injury (TBI), life changes dramatically. Even mild TBIs can lead to years of recovery and rehabilitation.

Other

Practice areas

The personal injury attorneys at the law firm of Abramson Smith Waldsmith LLP have more than 100 years of combined experience guiding clients through the legal process.

Scroll to Top
  • This field is for validation purposes and should be left unchanged.

Call ASWLLP Now

(415) 421-7995