It may be difficult for companies to perform a return on investment analysis when it comes to safety technology, such as lane departure warnings. This is because it can be hard to calculate the cost of a truck not straying out of its lane. According to the Federal Motor Carrier Safety Administration (FMCSA), a truck accident causes about $150,000 in damages on average. Therefore, it is often a good idea for owners of truck fleets in Ohio and throughout the country to invest in safety technology even if the upfront cost seems prohibitive.
In 2014, the cost of a truck collision avoidance system was no more than $4,000. Even if prices have increased since then, it’s likely to be less expensive than the damages caused by an accident. Investing in safety technology can have other benefits for a company as well. For example, it may allow a business to present itself as one that makes driver safety a priority, which can make it easier to attract and retain top talent.
Those who are familiar with the American Transportation Research Institute (ATRI) may have read about the six topics the organization wants to learn more about in 2019. Many of those subjects have to do with driver safety, and one is specifically related to analyzing the return on investment of truck safety technologies. Another topic that it wants to study is the safety records of younger drivers during intrastate trips.
A truck accident victim could be entitled to a variety of damages, such as lost wages or future earnings. However, this is generally only true if a negligent driver caused the accident. An example of negligence would be a vehicle straying into another lane of traffic because the driver was tired. In some cases, the company that owns the truck could be held responsible as well.