According to a recent report of AAA Chicago, the costs of traffic crashes reached $299.5 billion per year, three times greater than the $97.7 billion cost of congestions, both reported for the Chicago metropolitan area.
The report, “Crashes vs. Congestion – What’s the Cost to Society?”, emphasis the need of ensuring traffic safety in order to reduce the economic impact of traffic crashes, although most Americans seem more preoccupied by the daily burden of traffic congestions.
Brad Roeber, the president of AAA Chicago, stated: “However, at $300 billion annually, crashes cost our society more than three times the amount of congestion. This report further underscores the importance of a long-term, multi-year federal transportation bill that will provide the necessary and sustained investments that lead to better and safer roads for all Americans.”
Moreover, the total $299.5 billion annual costs of crashes represents a $1,522 annual cost per person, while the $97.7 billion annual costs of congestion represents a $590 annual cost per person. The report considers crash costs according to the methodology used by Federal Highway Administration, which quantifies a variety of components, like: lost quality of life, lost earnings and household products, medical services and many other.