Costs Per Crash
By David A. Kolman
Ever stop to wonder about the actual cost of truck accidents?
The Federal Motor Carrier Safety Administration released an extensive study of the actual costs of crashes involving many types of trucks – including medium and heavy duty vehicles. The numbers are staggering.
• The lowest average cost-per-crash is for property-damage-only crashes: $15,114 per crash.
• Crashes in which straight trucks were involved averaged $56,296 per crash.
• Crashes involving non-fatal injuries averaged $195,258 per crash.
• Crashes involving a death exceeded $3,604,500 per crash.
These figures don’t take into account such additional cost factors as damaged goods, vehicle downtime and replacement of vehicles and administrative costs.
Consider this: If your company operates on a 5 percent profit margin, it would have to generate an additional $1 million in revenue to cover the cost of a single $50,000 accident.
It’s bad enough when the cause of a crash is due to the driver. It’s worse when shoddy maintenance and repair is the culprit.