ROAD crashes are smashing $35 million a year out of the Southern Downs economy.

In the 13 years to 2013, 74 deaths and 1475 injuries left a $457 million black hole in the Southern Downs local government area.

The Federal 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.

An APN Newsdesk analysis of Queensland Government accident data for the Southern Downs Council area over the 13 years shows 74 people died on our roads, 657 had serious injuries and 818 were left with minor injuries.

The deaths accounted for $235,364,300, the serious injuries were valued at $208,182,900 and the minor injuries cost $14,324,000.

The overall total was $457,871,200 for 13 years or $35,220,900/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 high-risk drivers pay a lot more for insurance and low-risk drivers pay less.

"As a result, high-risk drivers can get large discounts on their insurance by driving safer cars."

Southern Downs Mayor Peter Blundell said road deaths hurt the entire community.

"The council is acutely aware of the road statistics for the region and all residents are saddened when they hear of another road crash involving loss or life or injury," he said.

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. I'm working closely with road safety experts like the RACQ and CARRS-Q," Mr Bailey said.

WHAT IT COSTS

The cost of crashes to the Southern Downs Regional Council area's economy between 2001 and 2013:

Fatal: 74, $235,364,300

Major: 657 $208,182,900

Minor 818 $14,324,000

Total: $457,871,200

Annual cost: $35,220,900

* 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.

WHO IS RESPONSIBLE?

Federal Government regulates safety standards for new vehicles and for allocating infrastructure resources across national highways and local roads.

Queensland Government funds, plans, designs and operates the state's road network; manages vehicle registration and driver licensing systems; and regulates and enforces road rules.

Councils fund, plan, design and operate local road networks.

Source: Queensland and Federal governments.