Management

Study: Total cost of auto crashes topped $800 billion

Thomas McMahon
Posted on June 16, 2014
A new federal report found that motor vehicle crashes in the U.S. in 2010 resulted in economic costs of $277 billion and $594 billion in societal harm. Photo by W. Robert Howell

A new federal report found that motor vehicle crashes in the U.S. in 2010 resulted in economic costs of $277 billion and $594 billion in societal harm.
Photo by W. Robert Howell

WASHINGTON, D.C. — A new federal report shows the steep monetary impact of motor vehicle crashes in the U.S.: $871 billion in one year.

The National Highway Traffic Safety Administration (NHTSA) calculated that total for 2010 in its recently released study. The total includes economic costs of $277 billion and $594 billion in societal harm.

According to NHTSA, there were 32,999 people killed, 3.9 million people injured and 24 million vehicles damaged in crashes in the U.S. in 2010.

The $277 billion economic cost of those crashes includes such factors as lost productivity, medical costs, legal and court costs, emergency service costs, insurance administration costs, property damage and workplace losses.

The $594 billion in societal harm includes loss of life and pain and decreased quality of life due to injuries.

"As our new report shows, preventing vehicle crashes, deaths and injuries also means reducing the burden on taxpayers, our health care system and your insurance premiums," NHTSA Acting Administrator David Friedman wrote in a blog post.

To access the full study, click here.

Related Topics: NHTSA

Thomas McMahon Executive Editor
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