According to the Federal Motor Carrier Safety Administration (FMCSA), the average cost of a commercial truck accident in which one person is injured is $148, 279. If more than one person is injured in a trucking accident, the costs rise exponentially to $7,2 million. This number does not include the rising costs of truck repairs and liability claims. As accidents become more frequent, claim costs are almost twice as likely to exceed $100,000.
Trucks carry 80% of the nation’s cargo, but there are more trucks on the road today than ever before. The number of truck accidents has increased along with the number of fatalities on the highways. Large truck crashes accounted for 11% of all motor vehicle accident deaths in 2018. According to the American Trucking Association, commercial trucks were involved in 59% more accidents per mile in 2017 than in 2010, despite newer technology and better regulations. In addition, the number of people who died in large truck crashes in 2018 was 31% higher than in 2009, when the rate was at its lowest since 1975, when statistics on fatal crashes began.