The National Highway Traffic Safety Administration (NHTSA) released a study stating that the loss incurred by vehicles crashes is estimated at $871 billion. Ultimately, this is not only an economic loss, but also harms the society every year. Some safety advocates even say that such amount can be considered as a “hidden tax.”
The study called “The Economic and Societal Impact of Motor Vehicle Crashes” analyzes 32,999 fatalities, 3.9 million injuries, and 24 million damaged vehicles, all resulting from crashes that happened in 2010.
Some of the findings focus on another aspect of the economic loss due to crashes in the U.S. They are equal to 1.9% of the $14.96 trillion U.S. gross domestic product (GDP) in 2010. Other factors that contribute to the economic loss are property damage, medical and rehabilitation costs, legal costs, emergency services, productivity losses and more.
Another interesting fact pointed out in the study is that over $200 billion are caused by society more than individual crash victims. The study says that, consequently, almost 75% of all crashes are covered through taxes, congestion related costs such as increased fuel consumption, thus increased environmental impacts, and travel delays.
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