When red light cameras are installed at high-risk intersections, rear-end collisions go up, but all other types of accidents go down, including thoseinvolving pedestrians. Analysis of traffic accidents in a northwestern city revealed that the total number of collisions at photo-controlled intersections decreased from 33 per month to 18. At the same time, the number of traffic tickets issued for red light violations averaged 1100 per month at an average cost to violators of $85 per citation. The cost to install the basic camera system at selected intersections was $750,000. If the cost of a collision is estimated at $41,000 and traffic ticket costsare considered disbenefits, calculate the B/C ratio for the camera system. Use a discount rate of 0.5% per month and a 3-year study period.

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Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.