Costly Crashes

Here’s an eye-opening figure: According to a study conducted the National Highway Traffic Safety Administration in Washington D.C., the annual economic impact of motor vehicle crashes in the U.S. is a whopping $871 billion. That’s $277 billion in economic losses and another $594 billion in damages incurred from injuries or a loss of life. NHTSA says drunk driving accounts for 18 percent of that loss, with more than 90 percent of that number involving a driver whose blood alcohol concentration was .08 percent or higher. Speeding, whether exceeding the posted limit or driving too past for conditions, accounts for 21 percent of the total economic loss, with distracted driving coming being responsible for 17 percent of all monetary damages. “No amount of money can replace the life of a loved one, or stem the suffering associated with motor vehicle crashes,” says U.S. Secretary of Transportation Anthony Foxx. “While the economic and societal costs of crashes are staggering, [this] report clearly demonstrates that investments in safety are worth every penny.”