According to a new study published by the National Highway Traffic Safety Administration, highway crashes cost the United States nearly $871 billion in economic loss and societal harm every year.
In a breakdown of this cost, the report found that all together, crashes cost $277 billion in economic loss or $900 per person living in the United States, and $594 billion in societal harm, from the loss of life and pain and the decreased quality of life because of crash-related injuries.
In a statement obtained by USA Today, U.S. Transportation Secretary Anthony Foxx stated, “No amount of money can replace the life of a loved one, or stem the suffering associated with motor vehicle crashes. While the economic and societal costs of crashes are staggering, today’s report clearly demonstrates that investments in safety are worth every penny used to reduce the frequency and severity of these tragic events.”
According to an article by USA Today, in a similar study published by AAA in 2011, the popular auto club found that each fatal crash in 99 urban areas carries an economic toll of about $6 million. The estimate, according to USA Today, was based on Federal Highway Administration data that place dollar values on 11 components including property damage; lost earnings; loss of household activities; medical costs; emergency services; travel delays; vocational rehabilitation; lost time at work; administrative costs; legal costs; and pain and lost quality of life.
Similarly, NHTSA’s study, “The Economic and Society Impact of Motor Vehicle Crashes, 2010,” centers on some of the behavioral factors that contributed to that year’s nearly 33,000 highway fatalities, 3.9 million injuries and 24 million damaged vehicles. Three driver behaviors according to the study-speeding, drunken driving and distracted driving-accounted for 56% of the economic loss to the nation and 62% of the societal harm.
The breakdown (obtained by USA Today):
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