We often hear about crashes, but the financial and emotional toll they take can be quite astounding. But it begs the question – What is the real impact of vehicle collisions?

A fascinating study by CRISP, featured on drivetolive.ca, sheds light on the actual costs associated with traffic collisions in the Capital Region, and the figures are quite staggering. Each year, over 43,000 collisions rack up a total cost of around $800 million.

Here’s a closer look at what these numbers mean:

Fatal collisions come with a price tag of over $225,000 each.

Injuries in crashes cost upwards of $48,000.

Even minor crashes, where only property gets damaged, can cost over $14,000.

These figures include direct costs, such as repairs and medical bills, as well as indirect expenses like legal fees and lost productivity. And, of course, there’s the emotional impact, which is immeasurable and deeply felt.

Speeding, a common yet risky behavior, plays a significant role in these stats. In 2018 alone, speeding contributed to a large number of collisions, leading to 39 fatalities and over 9,000 injuries in the Capital Region. The risk of fatal collisions nearly doubles with every 5 km/h above the speed limit. This is a sobering reminder of the importance of adhering to speed limits.

So, what’s the takeaway for fleet drivers and their employers? It’s clear: prioritizing safe driving practices is not just about compliance, but about protecting lives and reducing financial risks. For companies, investing in comprehensive driver training is not just beneficial; it’s essential for maintaining a safe and cost-effective operation.

In summary, while driving safely should always be a priority, understanding the true costs of collisions adds an extra layer of awareness and responsibility. Let’s all commit to safer driving practices – not just for our own sake, but for the well-being of everyone on the road. Safe travels!

Resources include drivetolive.ca and Forbes magazine, June 10, 2023.