Car Accident CostsWhile of course the highest car accident costs are the loss of human lives, even a minor accident can result in some big financial expenses to all those involved. According to a report from the OSHA, car accidents can cost a company around 66 BILLION dollars in lifetime medical costs alone. The lifetime work lost from these car accidents cost an estimate 33 million dollars. From these costs, it’s clear that more needs to be done to keep people safe on the roads and reduce the amount of accidents that occur on a daily basis.

The Average Car Accident Costs

The average car accident will cost an employer around $16,500, however, an on-the-job crash that results in an injury can cost upwards of $74,000. The cost of a fatality or serious injury due to a car accident cost the company $500,000.00 or greater.  After one of your employees has been in an accident, some of the car accident costs your company will incur directly include not only the cost of the car repair and medical bills (including EMS and rehabilitation bills), but it will also result in higher insurance premiums, liability settlements, worker’s compensation benefits, and much more.

The indirect costs to an employer are just as important to consider, too. Loss of employee time results in more work for everyone else on the team, which could mean overtime pay for other employees to ensure all of the missing employee’s work is being covered. Plus, the bad publicity that could surround your organization after a crash can lead to less business overall when your reputation is harmed.

With the direct and indirect costs involved, the attached worksheet may help you understand how much each motor vehicle accident is actually costing your company.

Driver Training Programs Can Help Reduce Car Accident Costs

These car accidents and the costs associated with them are all largely preventable. By providing corporate driver training to your employees, you’ll help reduce the occupational driving risks they face every time they get behind the wheel. Companies who invest in driver training for their employees see such positive impacts as a reduced number of motor vehicle crashes, more seat belt use, less workers’ compensation claims, and most importantly, saved lives. 

Get a program implemented as soon as possible. If you can, calculate the car accidents costs you already know your company has incurred so you can really see how much you’d benefit by starting a corporate driver training program. Encourage employees to see the value in driver training, too. Reduce their risks, reduce your costs, and help save lives.

DriveTeam’s corporate driver training has helped reduce corporate motor vehicle crashes by 35% or greater annually and lower costs for your company.  DriveTeam’s hands-on, interactive approach has helped many companies, large to small, across the country.  Contact us for more information.