Annual Economic Losses from Motor Vehicle Accidents Close to $900 Billion

By June 10, 2014Car & Truck Accidents

Auto accidents inflict almost $600 billion in severe injuries, deaths, and quality of life issues every year in this country. Throw in the economic losses resulting from truck crashes, and America’s total annual bill comes to $871 billion.

These are just some of the recently released findings of a study to determine the economic and societal tolls that motor vehicle accidents extract. The National Highway Traffic Safety Administration conducted the research. The organization found that in 2010, the year studied, there were 32,999 deaths from motor vehicle accidents and almost 4 million additional non-fatal injuries. The total number of cars, trucks and vans involved in crashes that year reached 24 million.

Main Causes of Catastrophic Motor Vehicle Accidents

The study goes on to examine in more detail the common causes of motor vehicle accidents and the resulting consequences:

  • Drunk Drivers – The NHTSA found that 18 percent of the total economic losses from motor vehicle crashes in 2010 were caused by drivers under the influence of alcohol. Over 90 percent of these costs came from accidents caused by drivers with a blood alcohol concentration of .08 or higher, which exceeds the legal limit in both Missouri and Illinois.
  • Speeding Drivers – Drivers exceeding the posted speed limits or driving too fast for current conditions accounted for 21 percent of the annual financial costs from motor vehicle accidents.
  • Distracted Drivers – According to this study, in 2010, distracted drivers were responsible for 17 percent of the total economic losses from passenger car and commercial truck crashes.

Economic losses from a motor vehicle accident are measurable, but how does one measure the tragic loss of a loved one killed by a negligent driver? There are lawyers experienced in pursuing fair and just compensation for the victims of catastrophic motor vehicle accidents. If you or a family member has been severely harmed in an auto or trucking accident, you may want to consult one such attorney.