Latest Trends in Auto Accident Claims
August 22, 2024A car accident can affect more than just a person’s finances, impeding an individual’s ability to maintain steady employment, perform household chores, and live a normal life. Lately, there has been an increase in the number of auto accident claims, with injury victims suffering both a financial and emotional toll. Given the number of insurance companies tying their purse strings, accident victims are put in an unfortunate position.
If you have recently been in a motor vehicle collision, do not attempt to settle your case on your own. Our California car accident lawyers are here to assist you in recovering just compensation for your injuries.
Rise in the Severity and Frequency of Claims
During the pandemic, the United States saw an increase in the number and severity of both bodily injury and property damage claims. The severity of bodily injury claims has risen by 20% in the years following the pandemic.
A Greater Number of Attorney-Represented Claims
Now more than ever, claimants are hiring an attorney before accepting an insurance settlement. Studies have shown that obtaining legal counsel can result in 3.5 times greater settlement awards than self-representation. In a recent survey, the majority of claimants who hired an attorney for their last claim stated that they would likely do so again.
Increase in Total Loss Claims
In 2022, 27% of collision claims were deemed total losses, a 29% increase from 2020. If your vehicle has been totaled, the insurance company may repossess your car once the actual cash value (what the car is worth at the present time) of the vehicle has been paid.
Longer Repair Times
Poor availability of manufacturer parts, delays in receiving parts, and a shortage of skilled mechanics is contributing to longer repair times. Due to the detailed procedures that must be followed in repairing electric vehicles (EVs), there has been a significant increase in labor costs. Combined with scheduling backlogs, vehicle repair times are 60% longer than in pre-pandemic years.
Rising Costs of Medical Bills and Injury Costs
Although there was a decrease in motor vehicle fatalities in 2022, the same does not hold true for accident injuries. In the same year, 5.2 million people received medical treatment for auto accident injuries, with injury costs estimated at around $481.2 billion.
Persistent Representation from our California Car Accident Lawyers
At Bamieh & De Smeth, we understand the hardship of recuperating from a car accident. If you are attempting to settle an auto accident claim, you want an attorney who has experience dealing with insurance companies. Our California car accident lawyers are not afraid to negotiate with insurance and will continue to do so until you are offered the settlement amount you deserve. We believe that you should be able to focus on healing--let us handle the rest.
If you have recently been the victim of a motor vehicle crash, our legal team is ready to help. To schedule your free case evaluation, contact us by phone or online.