The economic cost of car crashes

Read this recent report by the National Highway Traffic Safety Administration. Loss of life and injuries from vehicle crashes go way beyond measurement in purely economic terms, but the economic losses (including the lost of quality life measured in economic terms) associated with crashes are very large: about $870 billion in the most recent year studied (2010) or about $900 for every person living in the U.S. Here are some key findings:

• Drunk Driving: Crashes caused by drivers under the influence of alcohol accounted for 18 percent of the total economic loss due to motor vehicle crashes and cost the nation $49 billion, an average cost of $158 for every person in the U.S. Including lost quality of life, these crashes were responsible for $199 billion or 23 percent of the overall societal harm caused by motor vehicle crashes. Over 90 percent of these costs occurred in crashes involving a drunk driver with a blood alcohol concentration (BAC) of .08 or higher.
• Speeding: Crashes involving a speeding vehicle traveling over the posted speed limit or too fast for conditions accounted for 21 percent of the total economic loss and cost the nation $59 billion in 2010, an average cost of $191 for every person in the U.S. Including lost quality of life, these crashes were responsible for $210 billion or 24 percent of the overall societal harm caused by motor vehicle crashes.
• Distraction: Crashes involving a distracted driver accounted for 17 percent of the total economic loss and cost the nation $46 billion in 2010, an average cost of $148 for every person in the U.S. Including lost quality of life, these crashes were responsible for $129 billion or 15 percent of the overall societal harm caused by motor vehicle crashes.
• Pedestrians and Bicyclists: Crashes involving pedestrians and bicyclists accounted for 7 percent of the total economic loss and cost the nation $19 billion in 2010. Including lost quality of life, these crashes were responsible for $90 billion or 10 percent of the overall societal harm caused by motor vehicle crashes.
• Seatbelts: Seatbelt use prevented $69 billion in medical care, lost productivity, and other injury related costs. Conversely, preventable fatalities and injuries to unbelted occupants accounted for 5 percent of the total economic loss and cost the nation $14 billion in 2010. Including lost quality of life, failure to wear seatbelts caused $72 billion or 8 percent of the overall societal harm caused by motor vehicle crashes.