How do fatal accidents affect Oklahoma financially?

Oklahoma residents may be interested to know that the Centers for Diseases Control and Prevention provides information related to motor vehicle crashes. For example, one study publicly available analyzed the costs associated with deaths caused by motor vehicle accidents in 2005. According to that study, a staggering 30,000 people are killed in the United States every year due to motor vehicle accidents.

Those fatal accidents not only lead to the loss of life but also result in losses amounting to billions of dollars due to work-loss costs and medical expenses. According to CDC estimates, the monetary losses incurred due to fatal car crashes were a staggering $41 billion. Interestingly, the data showed that only 10 states contributed to more than half of that loss.

Oklahoma, fortunately, was not among the top 10 states on that list; however, despite that, the total estimated monetary loss from crash-related deaths during that year was $700 million. Interestingly, only $7 million, or just 10 percent, was for medical treatment. The remaining costs, amounting to $693 million, were due to loss of work.

The report also showed that car occupants accounted for $105 million, or 15 percent, of those losses. Motorcycle accidents accounted for $49 million or 7 percent. Pedestrians and bicyclists fared worse than motorcyclists and accounted for $54 million or 8 percent of the total losses. The report, however, could not categorize $493 million, or 70 percent, of the losses.

In the event of a fatal car accident, compensation amounts are based on monetary losses, including medical expenses and work-loss costs, which survivors may suffer due to the loss of a loved one. In fact, this is what Oklahoma laws say about wrongful death claims. Therefore, if any resident of the state loses a loved one, it may be a wise decision to speak with an attorney in order to understand how much compensation the person may be able to obtain as a result of a wrongful death claim.

Source: CDC.gov, “Oklahoma: Cost of deaths from motor vehicle crashes,” Accessed on Feb. 25, 2015