Escalating road accidents in the US – Do accidents raise insurance premiums?
During the first 3 months of 2022, traffic fatalities increased significantly, leading to the highest number of crash-related deaths in the last two decades, as per reports by the National Highway Traffic Safety Administration. It is surprising enough to note that New Jersey outpaced the 8% average national gain with a stark increase in fatalities of more than 14%.
The New Jersey State Police Officians reported 450 fatalities all over the state among passengers, drivers, pedestrians, and cyclists in 2022. This increase in traffic deaths in New Jersey and other states of the US has become an escalating emergency.
Speeding-related deaths increased by 25% from 2019-2020 after the congestion went down post-pandemic. There was also an increase in the rate of drivers who tested positive for opioids, as per the US Department of Transportation. There’s no doubt about the fact that with every passing day, people riding or driving on road are in peril. The Law Offices of Gallner and Pattermann, PC have also noticed a sharp rise in road accidents and the need for car accident lawyers.
Car insurance is getting costlier – Is it because of the rise in accidents?
In a word, the answer is yes. The hikes in rates also differ from one state to another and from one insurer to another. In fact, according to studies revealed by Bankrate, auto insurance rates have increased by an average of 5% nationwide.
The average cost for full coverage car insurance is around $1771. However, the average drops to $545. The more the number of car accidents, the higher will be the car insurance premiums. Though the rising cost and brand new innovative features of the cars explain the increase in car insurance trends, there are other reasons as well. With several influences in play, mentioning just one reason behind the increase in premiums is tough.
Higher prices of cars are another reason
It goes without mentioning that the price of new cars and used cars are excessively high. The Kelley Blue Book new vehicle average transaction price also increased to $49,405. The price of used cars also shot up. Considering the latest technological advancements brought forth in a car, these are certainly playing a role in boosting car insurance premiums.
Personal injury cases are also on the rise
Considering the hike in car accidents, there are also a large number of personal injury cases that are being filed by the victims of car accidents. An increasingly large number of personal injury lawyers are being required for resolving accident cases. A personal injury lawyer can help you understand the legalities of a case and help you win a settlement.
Therefore, if you own a car and you’re worried about car accidents, you should practice safe driving and follow all the traffic rules. Despite following the rules, if you still meet with accidents, make sure you get the help of a professional car accident lawyer who can fight your case and represent you on your behalf.