The total cost of fire in the United States has increased by 86% in real terms since 1980, a new report reveals.
The study by the National Fire Protection Association put the ‘complete total cost’ of fire for 2007 at $347 billion, which accounts for around 2.5% of US gross domestic product (GDP). The cost is defined as the sum of economic loss (property damage, business interruption etc), human loss (deaths, medical treatment, pain and suffering) and the costs of measures to prevent or mitigate the cost of fire, such as fire departments, insurance and fire protection equipment and construction.
Other findings from the report are:
- Although the core total cost of fire increased, the economic loss due to fire decreased by 13% since 1980, totalling $18.6 billion.
- The total cost of direct property damage, reported or unreported, was $16.6 billion, representing 90% of economic loss. The other 10% represents indirect losses, such as business interruption.
- Human losses are estimated at $42.5 billion.
The latest US statistics for 2008 show there were 3,320 civilian deaths and 16,705 civilian injuries in that year, with $15.5 billion of property damage.
Download the report here
