New Report Finds Each Fatal Car Crash In The US Costs $6 Million
November 4, 2011
In an effort to prompt Congress to act more swiftly on measures to improve traffic safety on the highways of the United States, AAA has released a report that shows the cost, in dollars, of a fatal car crash. According to Colorado’s 9 News, the report estimates that each fatal car crash that occurs in our country every 15 minutes costs an average of about $6 million.
The report, called Crashes vs. Congestion-What’s The Cost To Society? was released earlier this week by the organization and attempts to quantify the pro’s and con’s between the costs of slower, more congested highways and faster moving ones that lead to more fatalities. The numbers were culminated from eleven different factors the Federal Highway Administration uses to assign a dollar value to a variety of components, such as, medical and emergency services, lost earnings and household production, property damage, and lost quality of life, among other things.
Conclusions of the report seem to suggest that although more accidents occur on congested roads, the accidents are less deadly and are less costly. They found that in all cities polled, the cost of fatal crashes per person was $1,522 and the cost of congestion per person was $590, an almost thousand dollar difference in cost per person.
The Colorado Car Accident Lawyers with the McDivitt Law Firm hope these numbers can be used by the organization to teach drivers of the dangers and costs that fatal car crashes have on society today. If you have been the victim of a car accident, contact McDivitt Law Firm today for a free initial consultation to answer any questions you have about you case.Back to the Blog