How Much Do Vehicle Crashes Cost the Economy?

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It is normal information that vehicle accidents can be costly. Autos must be repaired or supplanted, there are frequently hospital expenses and lost wages from personal injuries that must be represented, and harm to individual things and other property should likewise be dealt with.

A current review, led by the Department of Transportation (DOT), puts the aggregate yearly monetary weight of vehicle collides with the startling point of view – and the expenses are amazing.

Car Crashes as a Percentage of Gross Domestic Product (GDP)

A total national output is a term which alludes to the aggregate creation of a nation in one year, including all merchandise delivered and benefits rendered. The U.S. Gross domestic product is evaluated at roughly $15-$17 trillion. Of that figure, the monetary harms related with car accidents represent about $277 billion, or right around 2 percent of the whole GDP of the nation.

Car Crashes in Dollars

As indicated by Department of Transportation figures each year car collisions result in around $871 billion in financial misfortunes. $594 billion of that figure is from supposed non-monetary misfortunes, which incorporate agony and enduring, diminished personal satisfaction, and harms related with the death toll. The rest of the $277 billion, as said above, results from financial harms, which incorporate harm to vehicles and property, doctor’s visit expenses, and every single different misfortune which have a particular dollar sum related with them.

Intoxicated Driving and Speeding are Still a Major Drag on the Economy

The DOT reports that intoxicated driving accidents cost the nation about $50 billion consistently. Following quite a while of open administration battles, went for dispensing with smashed driving passings, roughly 10,000 individuals still bite the dust in accidents related tipsy driving each year.

Speeding brings about accidents that cost the nation about $59 billion every year. Together with tanked driving, these two elements consolidate to cost the nation almost $110 billion every year. That likens to a cost of roughly $349 for each man, lady, and tyke in the U.S.

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