Vehicle crashes have $871B yearly price tag, report finds

Motor vehicle crashes in the United States every year have an economic toll of almost $1 trillion.That includes $277 billion in actual cost and an estimated $594 billion in “harm from the loss of life and the pain and decreased quality of life due to injuries,” a new U.S. Department of Transportation’s National Highway Traffic Safety Administration report said.

Studying crashes in the U.S. in 2010, NHTSA counted up 32,999 fatalities,

3.9 million nonfatal injuries and 24 million damaged vehicles in “The Economic and Societal Impact of Motor Vehicle Crashes 2010.”

Among the factors considered in the direct losses of $277 billion, the report said, were $93 billion in lost productivity, $76 billion in property damage,

$35 billion in medical expenses and $28 billion in the costs of traffic-related congestionlike traffic jams and increased air pollution. The report concluded that drunken driving, speeding and “distraction” were key contributors. 

Los Angeles Times