Posted on July 18, 2014 in Car Accidents

While it is clear that motor vehicle accidents have many consequences, a study by the National Highway Traffic Safety Administration (NHTSA) quantified the monetary and societal impact of motor vehicle accidents, and the results are staggering. The study was based data from 2010, when there were 32,999 fatalities, 3.9 million non-fatal injuries, and 24 million damaged vehicles.

The price tag associated with the crashes is a whopping $871 billion in economic loss and societal harm, including $277 billion in economic costs, or close to $900 for each person living in the United States in 2010, and $594 billion in harm from loss of life, pain and decreased quality of life caused by injuries.

Some of the report’s key findings include:

• Drunk Driving: Alcohol-related crashes accounted for 18 percent of the economic loss attributable to motor vehicle accidents. The cost was $49 billion, or $158 per person in the U.S., with a total cost of $199 billion or 23 percent of the overall societal harm when lost quality of life is factored in.

Continue Reading ››