A recent AAA report reveals that automotive accidents cost nearly $300 billion annually on a national scale. This works out to about $1,522 per person per year, which can bea major financial burden for many, especially as the economy is still recovering from the recession.

However, officials are calling for further actions to be taken to try to curb vehicular accidents. Not only do they cause expensive auto repairs, but they also rack up costs in terms of healthcare. The news source indicates that the total cost of one crash-related death can add up to about $6 million when you factor in medical and emergency services as well as auto repairs, and injuries cost about $126,000.

"We know what's effective," AAA spokesman Troy Green told CBS News. "Tough laws, stricter enforcement, strict penalties and targeted messaging and public education campaigns are effective – and we need more of those."

While safe driving practices and vehicle maintenance can lower the risk of car accidents, the threat still exists. This is why it can be a good idea to invest in a car warranty, which will cover the cost of repairs and tune ups, so that $1,500 will not have to come out of the driver's pocket.