Did You Know? - The Cost of Traffic Crashes
February 27th 2023
The National Highway Traffic Safety Administration released a report in early 2023 detailing the cost of traffic crashes. The data shows that in 2019 motor vehicle crashes cost the United States society $340 billion . The report examined one year of crashes – crashes that killed approximately 36,500 people, injured 4.5 million and damaged 23 million vehicles .
The total economic cost of these crashes which totalled $340 billion, included lost productivity, medical, legal and court costs, emergency service, insurance administration, congestion, property damages, and workplace losses . Furthermore, when quality-of-life valuations are considered, the total value of societal harm from motor vehicle crashes in 2019 was nearly $1.4 trillion . “Lost market and household productivity accounted for $106 billion of the $340 billion, while property damage accounted for $115 billion. Medical expenses totaled $31 billion. Congestion caused by crashes, including travel delay, excess fuel consumption, greenhouse gases, and criteria pollutants accounted for $36 billion .”
In Canada, for the year 2018, transportation accidents cost $3.6 billion . Of the $3.6 billion, motor vehicle accidents accounted for $1.9 billion, pedestrian accidents for $438 million, bicycles for $377 million, ATV/snowmobile for $331 million and other transport for $597 million .
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