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The Economic Costs of Motor Vehicle Crashes

The Economic Costs of Motor Vehicle Crashes

The National Highway Traffic Safety Administration (NHTSA) reports that the economic toll of motor vehicle accidents in the United States amounts to $277 billion per year—or almost $900 per person living in the United States.

Motor vehicle accidents cause a further $594 billion in terms of loss of life, decreased quality of life, and pain due to injuries.

Contributing Factors in Car Accidents

The NHTSA reports that several factors contribute to the cost of motor vehicle accidents, which caused 32,999 fatalities, 3.9 million non-fatal injuries, and 24 million damaged vehicles in 2010. These factors include all of the following:

  • Driver intoxication, which costs the nation $49 billion, or $158 per person
  • Speeding, which costs the US $59 billion, or $191 per person
  • Driver distraction, which costs the US $46 billion, or $148 per person
  • Pedestrians and cyclists, which costs the nation $19 billion
  • Seat belts, the use of which saves $69 billion per year in medical and injury-related costs (Failure to wear seat belts costs the US $72 billion per year)

The costs associated with motor vehicle crashes are paid by society as a whole rather than by those who fall victim to motor vehicle accidents. Reduced productivity, property damage, medical care, legal fees, traffic congestion, and other factors contribute to the high cost of roadway accidents.

Almost 75 percent of the costs associated with motor vehicle accidents are paid through insurance premiums, taxes, and costs related to accident-related traffic jams, such as increased fuel consumption, travel delays, and environmental impacts.

Salt Lake City Accident Attorneys

Car accidents cost everyone—especially those injured in crashes. In order to decrease the number of accidents that happen, it's important that negligent and irresponsible drivers be held accountable. At Craig Swapp & Associates, we have the experience you need to ensure that you get justice.

If you have been hurt in an accident, let us help you get the compensation you deserve. Contact the attorneys of Craig Swapp & Associates and schedule a free consultation by calling 1-800-404-9000 or by completing the form on our website.r your text here ...

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Saturday, 15 August 2020
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