Speeding is one of the most prevalent factors contributing to traffic crashes. The economic cost to society of speeding-related crashes is estimated by NHTSA to be $40.4 billion per year.

In 2007, speeding was a contributing factor in 31 percent of all fatal crashes, and 13,040 lives were lost in speeding-related crashes.

The total economic cost of crashes was estimated at $230.6 billion in 2000. Motor vehicle crashes cost society an estimated $7,300 per second. In 2000, the cost of speeding-related crashes was estimated to be $40.4 billion — $76,865 per minute or $1,281 per second.

Speeding reduces a driver’s ability to steer safely around curves or objects in the roadway, extends the distance necessary to stop a vehicle, and increases the distance a vehicle travels while the driver reacts to a dangerous situation.

For drivers involved in fatal crashes, young males are the most likely to be speeding. The relative proportion of speeding-related crashes to all crashes decreases with increasing driver age. In 2007, 39 percent of male drivers age 15 to 20 who were involved in fatal crashes were speeding at the time of the crash.

Source: NHTSA-Traffic Safety Facts 2007-DOT HS 810 998