The Economic Cost of Motor Vehicle Crashes, 1994

Download or read book The Economic Cost of Motor Vehicle Crashes, 1994 written by Lawrence J. Blincoe and published by . This book was released on 1996 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents the results of an analysis of motor vehicle crash costs in 1994. The total economic cost of motor vehicle crashes in 1994 was 150.5 billion dollars. This represents the present value of lifetime costs for 40,676 fatalities, 5.2 million nonfatal injuries, and 27 million damaged vehicles, in both police reported and unreported crashes. Property damage costs of 52.1 billion dollars accounted for the largest share of costs, while lost market productivity accounted for 42.4 billion dollars. Medical expenses totalled 17 billion dollars. Each fatality resulted in an average discounted lifetime cost of 830,000 dollars. Alcohol-involved crashes caused 45 billion dollars or 30% of all economic costs, and 78% of these costs occurred in crashes where a driver or pedestrian was legally intoxicated (>=.10% BAC). Crashes in which police indicate that at least one driver was exceeding the legal speed limit or driving too fast for conditions cost 27.7 billion dollars in 1994. Public revenues paid for 24% of medical costs, and 9% of all costs resulting from motor vehicle crashes. These crashes cost taxpayers 13.8 billion dollars in 1994, the equivalent of 144 dollars in added taxes for each household in the United States.