Just how much are citizens expected to pay for the cost of having a safer vehicle? It all depends on the vehicle, insurance coverage, and features you choose to have installed in the automobile itself.
With a need for safer vehicles and drivers, of course, the development of cars with high-tech features has come at the right time. There are approximately 37,000 people killed in car accidents each year and an additional 2.35 million injured or disabled [Source: Association for Safe International Travel]. As much emphasis as society puts on driving with more caution, there still is a need for more to be done to help reduce the number of auto accidents that are occurring. That’s where the high-tech features come in.
How much more will I be spending on a newer vehicle that comes equipped with high-tech safety features?
- Aside from the price of the actual vehicle, you have to consider your insurance premium. Insurance companies are a business which means they are always looking for ways to capitalize. If you purchase a vehicle that contains parts that are more expensive to replace, you better believe they are going to factor this into your monthly premium. Insurance carriers aren’t going to want to dish out the extra dollars in the event you are involved in an accident for a part that costs a few hundred more than your previous vehicle. Therefore, they are going to be sure they cover themselves and collect the extra money up front in your monthly payment just in case you happen to engage in a collision. The Coloradoan noted that while the average cost of insurance was once $915 in 2015, it is expected to climb to $1,150 in 2018.
Aside from paying your insurer to provide you with coverage, you may also have to pay out of pocket for the expensive parts. If you have a deductible that must be met before your insurance policy will pick up the bill, you are responsible for paying for any work that needs to be done until that deductible is met. And the Coloradoan highlighted recently that vehicles manufactured back in 2014 were made with different parts that those manufactured in 2016. For example, some 2016 vehicles come equipped with a distance sensor while those made years ago did not. This newly added feature is going to be more expensive to replace and don’t forget about the cost of labor. The source also highlighted that some luxury vehicles being manufactured can cost anywhere around $3,550 just to have the bumper repaired whereas it once cost approximately $1,845 for the same job. Now, small repairs that once cost less could have you spending hundreds or even thousands more depending on what was damaged in the accident.
With the high price of a new vehicle, the cost for an insurance policy that covers it, and the potential cost to have your vehicle repaired in the event of an accident, you are looking at spending a great deal more on a “safer” vehicle. However, because we can’t place a price tag on our lives, we are encouraged to put ourselves in the safest vehicles out there to help reduce the chances of us engaging in an accident.
If you were recently involved in an accident in Boston and you need to speak with a professional who can inform you on what to do or if you are entitled to collect compensation for certain damages, then USAttorneys.com is the place to call. We can help you find a local accident lawyer in Boston for free. While you may not need to obtain legal representation just yet, it is always a good idea to become more informed on what your rights are as a victim.