Accidents annually cause high economic damages for concerned persons, companies and the state. To determine the exact costs of a damage is a challenge. Scientific studies differ from each other because of different models of calculation. Due to the fact of a low number of accidents concerning rail transport there are not many studies about how to calculate the costs an accident causes. The aim of this thesis is to give an overview about methods when dealing with these costs and to point out occurring difficulties. Generally, costs of accident can be divided in two categories. One category deals with personal injuries whereas the other focuses on material damages. Personal injuries contain material and immaterial damages. This leads to difficulties in calculation. The main aspect when dealing with personal damages is the loss of manpower, the costs of medical supply and the costs of the recovery of the legal situation. Currently there is no model of how to calculate personal damages concerning rail transport in Germany. The “Bundesamt für Straßenverkehr” developed an extensive model for calculations of costs of accident concerning traffic. It turned out that the death of people has costs round about 1.1 million euro. Severely and slightly injured people cause damages about 106,000 euro and 5,000 euro. This thesis declares that the model is important regarding different aspects of rail transport and that it is based on statistically collected key performance indicators. Furthermore, some approaches, which analyse the value of life, are mentioned. There are large derivations between them. To make a calculation of material damage the current value of the object must be respected. When dealing with the limitation of material damages the focus is on damages concerning infrastructure. In addition, railway infrastructure can be mentioned. With the help of the “Kostenkennwertekatalog” of Deutsche Bahn AG acquisitions costs for certain components of infrastructure can be determined. As a result, they offer a basis for calculating damages.