How far would you feel comfortable letting your LO walk to elementary school?

Our state law is .8 of a mile. My house is currently super close to being in excess of .8 mile. (New elementary school opening, so they are redrawing lines). Personally, I am NOT comfortable with them walking that far because we live in an area where people habitually speed and my brother was hit by truck walking home from school and was in and out of hospital for a year. I'm biased. What are your thoughts?