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Costs and statistics of auto crashes

Posted On October 07, 2014

On behalf of Strom & Associates, Ltd. posted in Car Accidents on Tuesday, October 7, 2014.

Illinois residents may be interested to learn that according to the Centers for Disease Control and Prevention, the cost for medical expenses and loss of productivity due to injuries received in motor vehicle collisions was more than $99 billion in 2010. This figure amounts to the equivalent of almost $500 for every licensed driver in the entire country. Private insurers pay about 50 percent, the largest portion of the cost, while individual victims cover about 26 percent.

The National Highway Traffic Safety Administration released figures for 2012 showing an increase of 3.3 percent in deaths from motor vehicle crashes after there had been a steady decline for six years. On average, someone died every 16 minutes that year from a motor vehicle accident, and someone was injured every 14 seconds. That same year, over 5 million crashes were reported to law enforcement authorities, but NHTSA believes at least 10 million collisions are not reported each year.

Speeding has been pinpointed as a contributing factor in 30 percent of all fatal accidents in 2012. Among males drivers between the ages of 15 to 20 and the ages of 21 to 24 who were involved in fatal collisions, 37 percent were speeding when the crash occurred. In 2010, speeding caused as much as $210 billion in economic loss in the country.

When one examines the figures associated with accident cost and also looks at the underlying factors of motor vehicle collisions, like drunk driving, texting, fatigue and cellphone use, it becomes apparent that negligent behavior leaves a profound impact on society. In cases where an accident victim is able to present to the court evidence of negligence on the part of the other driver, the victim might be given compensation to cover expenses and suffering involved.

Source: Rocky Mountain Insurance Information Association, “Cost of Auto Crashes & Statistics“, October 03, 2014

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