Study Done By NHTSA Says Car Crashes Impact On US Reaches $871 Billion Part III

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Study Done By NHTSA Says Car Crashes Impact On US Reaches $871 Billion Part III

crashes

The economic cost of motor vehicle crashes in the U.S. is the equivalent of 1.9 percent of the $14.96 trillion gross domestic product (GDP) in 2010. Factors contributing to the price tag include productivity losses, property damage, medical and rehabilitation costs, congestion costs, legal and court costs, emergency services, insurance administration costs and the costs to employers, among others. Overall, nearly 75 percent of these costs are paid through taxes, insurance premiums and congestion-related costs such as travel delay, excess fuel consumption and increased environmental impacts. These costs, borne by society rather than individual crash victims, exceeded $200 billion.

This information was found in a Body Shop Business newsletter and is meant to open the eyes of society as a whole. For you, the PDR Technician, this information shows how not only is there plenty of work to be done but that the collision repair industry is safe from extinction.  As long as there are vehicles that don’t use intuitive software to avoid collisions, there will be plenty of work to be done. It would be great if we could cut down on the loss of life and it’s a horrible impact on all concerned and please, never think that what I am saying is that their vehicle damage is your ticket or gain. It’s simply a fact, if vehicles in accidents of any kind need repair, that’s what you do.

Actively seek new work on a daily basis, find ways to stay at the pulse of the collision industry, keep your ear to the ground and you will find success. These type of vehicles will be insured so you will want to stay in touch with or establish a relationship with insurance companies in your area. However, be warned that not all insurance companies are created equal. Pay close attention to what they want to pay and what you need to make in profit. Insurance companies tend to blur the lines.