Economic Cost of Trucking Accidents
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Based on data from the FMCSA (Federal Motor Carrier Safety Administration), we calculated the total economic loss from distracted driving accidents involving trucks at over $38 billion per year.
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Assuming the trucking business is ultimately responsible for about 75% of that liability, the total bill to the industry is nearly $30bn and the true cost is likely many multiples of that when you factor opportunity cost and secondary expenses!
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With approximately 38 million trucks on the road the cost of distracted driving accidents per truck is approx $736. The Stealth technology can potentially reduce this liability to zero!
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For only $595 and $30 per month the Stealth pays for itself in a little over a year with savings growing to $376 per year per truck, not including the precious cost of human life.
Data / Assumptions
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According to the FMCSA there were approximately 499,000 police-reported crashes involving large trucks in 2018
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414,000 involving property
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112,000 involving injury crashes
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4,862 fatal crashes
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According to the FMCSA, an estimated 32% of fatal truck accidents were caused by driver error, with distracted driving being reported as the second leading cause.
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On average, there are 6 million car accidents in the U.S. every year
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Nearly 1.6 million car crashes were caused by cell phone use while driving.
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Singles (truck tractors pulling a single semi-trailer) accounted for 55% of fatal accidents
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Property damage (avg. medium and heavy), excluding pain and suffering, averages around $148,279
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Straight truck with no trailer average $97,811
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Tractor-trailer pulling one trailer average $172,292
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Truck pulling two or three trailers average $511,582
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Average cost of injury related truck accident involving a semi pulling one trailer is $334,892
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Average cost of injury related heavy truck pulling two or three trailers is $1.2 million
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Average cost of a fatal truck accident
