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Tue August 23, 2011
Report: Traffic crashes add up to $4.8 billion a year in economic costs
A new State Police report says traffic crashes in Michigan carry a price tag of $4.8 billion dollars a year. The report says the cost of traffic crashes in Michigan exceeds the cost of crimes.
Researchers used data from 2009, when the human toll of traffic crashes was 937 deaths and more than 70,000 injuries. They put the economic damage for those crashes at $4.8 billion dollars. That includes the cost of medical care, property damage, and lost earnings, among other things.
The institute also used data on jury awards to put a value on pain and suffering caused by traffic crashes, which put the number over $9 billion dollars. The study compared the dollar loss from crashes to the cost of violent and property crimes that are tracked by the state, and found the costs of crime are dwarfed by the costs of traffic crashes.
The report was commissioned by the state Office of Highway Safety Planning and was conducted by the University of Michigan Transportation Research Institute.