Report Suggests that Auto Accident Costs Have a $871 Billion Impact on U.S. Citizens
A recent report the National Highway Traffic Safety Administration (NHTSA) suggests that the economic and non-economic costs associated with auto accidents in the U.S. may be $871 billion, or about $900 per person each year. Much of that cost is preventable, according to the regulatory agency, which used data from crashes in 2010 to form its report.
According to the study (PDF), economic damages caused by accidents were $277 billion, with an additional $594 billion in non-ecomonic damages, such as loss of life, pain, suffering and decreased quality of life experienced following auto accident injuries.
As U.S. Transportation Secretary Anthony Foxx said in a press release issued last month announcing the report:
“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 the NHTSA study, speeding was involved in 21% of the total economic loss, costing the country $59 billion. That comes to about $191 per person in the U.S. When loss of life and quality of life costs are added in, that number jumps to $210 billion; almost a quarter of the overall societal harm caused by auto accidents.
Drunk driving accounted for 18% of the total economic damage from auto accidents in 2010, or about $49 billion. That tacks on another $158 per person in the U.S.. Once loss of life and quality of life costs are added in, the cost goes up to $199 billion.
The study also found that distracted driving, one of the fastest increasing causes of auto accidents, was only slightly less costly than drunk driving. Accidents involving drivers texting on the cell phones or otherwise distracted was liked to 17% of the total economic loss from auto accidents, $46 billion, or $148 for every U.S. citizen. The loss of life and quality of life costs raised that total to $129 billion.
Overall, auto accidents account for 1.9% of the nation’s gross domestic product. That year, the U.S. GDP only increased 2.9%.
No Comments • Add Your Comments