It has been estimated that, on average, the economic damage caused by a fatal Road Traffic Collision amounts to nearly £1.8m and that the damage from a serious injury amounts to over £200k.
Despite clear improvements in road safety, the annual cost to the UK economy of all deaths and injuries remains significant at around £13 billion (i.e. around 1% of GDP), with damage-only accidents estimated to cost a further £5 billion.
Baker Tilley report for Institute of Advanced Motoring
So the annual motor vehicle accident costs are approximately £18 billion in the UK alone. Imagine what the world-wide cost must be. And imagine the human cost that lies behind the financial one.
