WHY THIS DIFFERENCE IN ACCIDENT "PRICE TAGS"?

A BRIEF COMPARISON IS PRESENTED OF TWO ACCIDENT COST ESTIMATING PROCEDURES (THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION OR NHTSA METHOD, AND THE NATIONAL SAFETY COUNCILOR, OR NSC METHOD) AND THE INDIVIDUAL ITEMS THAT ARE USED IN ESTIMATING THE TOTAL COST OF MOTOR VEHICLE ACCIDENTS ARE CONSIDERED. THE NHTSA PUBLISHED AN ESTIMATE OF $46 BILLION AS THE LOSS DUE TO MOTOR VEHICLE ACCIDENTS IN 1971 WHILE THE NSC'S ESTIMATE FOR THE SAME YEAR WAS $15.8 BILLION BOTH METHODS USE THE FOLLOWING COST ELEMENTS IN THEIR ESTIMATES: WAGE LOSS, MEDICAL COSTS, PROPERTY DAMAGE, INSURANCE, ADMINISTRATION AND CLAIM COSTS, OTHER COSTS (INCLUDE FUNERAL COSTS, ASSET DEPRECIATION ETC.) THE EXTRA THREE ITEMS TAKEN INTO ACCOUNT BY THE NHTSA ARE PAIN AND SUFFERING, LOSS OF THE PERFORMANCE OF HOME AND FAMILY DUTIES, AND LOSS OF SERVICE TO THE COMMUNITY. DISCREPANCIES BETWEEN ESTIMATION OF SOME COST ELEMENTS COMMON TO BOTH METHODS ARE ANALYSED. /TRRL/

  • Availability:
  • Corporate Authors:

    National Safety Council, Incorporated

    425 Michigan Avenue
    Chicago, IL  United States  60611
  • Authors:
    • Peszek, J R
  • Publication Date: 1973-4

Media Info

  • Features: Tables;
  • Pagination: 5 p.
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00201094
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: ITRD, TRIS
  • Created Date: Jul 16 1976 12:00AM