Total Accident Value

The value of reduced accidents is found by multiplying the estimated value per accident type by the change in the number of accidents of each type.

For example, if a project is expected to reduce fatal collisions on a road by 1.5 per year, and the cost per collision, based on the VSL concept, is estimated at $3,104,738, the reduced fatal accidents would be valued at $4.6 million per year. Add this to the value of reduced injury and property damage accidents to get the total economic value of accident reduction.