Road crashes cost city $220 million each year
ROAD crashes are smashing more than $220 million a year out of the Ipswich economy.
In the 13 years to 2013, 114 deaths and 13,201 injuries left a $2.9 billion black hole in the Ipswich local government area.
The Federal Government's Bureau of Transport and Regional Economics experts say each person killed in a road crash costs the nation $3,180,598.
A person with serious injuries will set us back $316,869 while a patient with minor injuries costs $17,511.
The costs are based on a range of factors including loss of earnings, emergency service response, medical treatment, disability care, property damage and insurance.
A QT analysis of Queensland Government accident data for the Ipswich City Council area over the 13 years shows 114 people died on our roads, 7950 had serious injuries and 5251 were left with minor injuries.
The deaths accounted for $362,588,200, the serious injuries were valued at $2,519,108,600 and the minor injuries cost $91,950,300.
The overall total was $2,973,647,100 for 13 years or $228,742,100 a year.
The annual financial burden of road accidents to Australia is $27 billion.
Economic Society of Australia's Richard Tooth, who wrote The Cost of Road Crashes: A Review of Key Issues, said reducing the financial impacts of road crashes could be as simple as changing how insurance was regulated.
"I argue the insurance industry could play a major role in reducing road fatalities and injuries if we gave insurers the right incentives," the Sapere Research Group director said.
"In Queensland and most of Australia the CTP regulations prevent insurers from offering price discounts to encourage safer driving
"In most developed countries like the UK the comprehensive insurance is bundled with the CTP and there is little price regulation.
"That means the high-risk drivers pay a lot more for insurance and the low risk drivers pay less
"As a result, high-risk drivers can get very large discounts on their insurance by driving safer cars."
Ipswich councillor Cheryl Bromage said the council had a two-pronged approach to road safety.
"The council takes both a proactive and reactive approach to improving safety for all road users," she said.
"All projects are planned, designed and constructed using current standards which include safety as a key factor."
Main Roads Minister Mark Bailey said road users and the Queensland Government needed to work together on safety.
"There are many excellent road safety initiatives in place in Queensland, all designed to enhance safety for motorists.
"My aim is to ensure we continue to review and improve their effectiveness," Mr Bailey said.
"I'm working closely with road safety experts like the RACQ and CARRS-Q.
"By working together, we are best placed to continue to ensure the safety of motorists and all road users."
WHAT IT COSTS
THE cost of accidents to the Ipswich City Council area's economy between 2001 and 2013:
SEVERITY / NUMBER / COST
- FATAL: 114,$362,588,200
- MAJOR: 7950,$2,519,108,600
- MINOR 525,$91,950,300
* Calculations are based on the Bureau of Transport and Regional Economics guidelines of $3,180,598 for each fatality, $316,869 for each person with a serious injury and $17,511 for each person with minor injuries.