The financial toll of a fatal car accident is far less important than the emotional toll it takes on loved ones. It is a large factor, however, in determining what resources are directed toward making the roads safer for everyone. It is also a large factor in determining the appropriate compensation for the loved ones left behind after a deadly accident caused by negligence. A recent compilation conducted by the U.S. Centers for Disease Control and Prevention shows just how large an impact these crashes have on the nation as a whole and on Georgia citizens, in particular.
In 2005, deaths from motor vehicle accidents cost Georgia citizens $1.55 billion. 2005 was a particularly bad year for car accident deaths across the country. The death toll from that year was the highest since 1990 and, fortunately, has not been matched since. Still, medical costs have only risen since then and the cost for more recent years is likely to be similarly high.
The largest single factor in the CDC cost estimates is work loss costs. That accounts for money that would have been earned by the crash victim over the course of his or her life if the accident had never occurred. That lost productivity makes up more than $1.5 billion of the total cost of motor vehicle deaths suffered by Georgians.
The CDC went on to suggest policies to reduce car crashes, as well as to help people survive when accidents do occur. As always, seat belt use and the use of proper child safety seats and booster seats were primary ways to help people survive car accidents.
Source: www.cdc.gov, "Georgia: Cost of deaths from motor vehicle crashes," November 2014