Motor vehicle collisions are costly – not just to the people involved, but society as a whole. Costs to individuals and families can be considerable, especially when there are major injuries or fatalities. With over 60,000 traffic collisions in the Capital Region every year, CRISP members identified the need to quantify those cost to encourage both the public and the policy makers to take action.
The Collision Cost Study identifies, analyzes and interprets the costs associated with motor vehicle collisions to determine average and total costs of collisions involving fatalities, injuries and property damage in Devon, Edmonton, Fort Saskatchewan, Leduc, Sherwood Park, Spruce Grove, St. Albert and Stony Plain. The resulting model allows road agencies to calculate both the direct costs associated with motor vehicle collisions, as well as other less tangible and indirect costs, to determine the cost benefit of engineering changes to reduce road trauma. This costing model is based on data that is generally available in other jurisdictions making the project transferable to other municipalities in Alberta and across Canada.
CRISP’s 2010 Collision Cost Study estimated that crashes in the Capital Region cost nearly $1 billion with each fatal collision costing more than $180,000, each injury collision costing almost $40,000 and the average collision that only involves property damage costing approximately $11,000.
The feedback from this report was so favourable, that a new report has been completed. The updated results show that the cost per collision type has increased to each fatal collision costing more than $225,000, each injury collision costing almost $50,000 and the average collision that only involves property damage costing just over $14,000. At the same time, the frequency of collisions has reduced significantly in all areas bringing the overall cost of collisions in the Capital Region to over $800,000 million. Still a staggering amount.