A report recently issued by the AAA analyzed the financial damage of fatal traffic crashes in 99 urban areas, and concluded that the cost of crashes in those cities was $299.5 billion – an average of more than $6 million per fatal motor vehicle crash (far greater than the cost of traffic congestion).
In contrast, the study found that the average cost of an injury-only crash is only $126,000.
The estimated costs consider the dollar value of 11 crash consequences: property damage; lost earnings; loss of household activities; medical costs; emergency services; travel delays; vocational rehabilitation; lost time at work; administrative costs; legal costs; and pain and lost quality of life.
The last time AAA did a comparable study the average cost of a traffic fatality was $3.24 million, and that of an injury-only crash was $68,170.
The purpose of the AAA study is to highlight the importance of allocating more funding towards road safety.Comments Off on AAA Concludes Average Cost of Fatal Car Crash is More Than $6 Million