Crashes cost drivers and society billions
By: Drivers.com staff
Date: 2002-05-13
Even seemingly minor car crashes can cost thousands of dollars. A new report titled "The Economic Impact of Motor Vehicle Crashes" shows the problem reached $230.6 billion a year, or an average of $820 for every person living in the United States. U.S. Transportation Secretary Norman Y. Mineta introduced the study,conducted by the National Highway Traffic Safety Administration (NHTSA). The new report, based on year 2000 data, calculates the U.S. economic costs of an average roadway fatality at $977,000 and estimates the economic costs associated with a critically injured crash survivor at $1.1 million. According to NHTSA, the authors also estimate the yearly economic cost of roadway crashes to include:
- $61 billion in lost workplace productivity
- $20.2 billion in lost household productivity
- $59 billion in property damage
- $32.6 billion in medical costs
- $25.6 billion in travel delay costs.
Overall, nearly 75 percent of the costs of roadway crashes are paid by those not directly involved--primarily through insurance premiums, taxes, and travel delay. In 2000 these costs, borne by society rather than individual crash victims, totaled $170 billion.
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