A truck fleet accident costs an average of $16,500 in damages and $57,500 in injury-related costs for a total of $74,000. “This does not include a broad range of ‘hidden’ costs, including reduced vehicle value (typically anywhere from $500 to $2,000), higher insurance premium, legal fees, driver turnover (the average driver replacement cost = $8,200), lost employee time, lost vehicle-use time, administrative burden, reduced employee morale and bad publicity,” said Yoav Banin, chief product officer at Nauto, which provides artificial intelligence driver and fleet performance solutions.

Emphasis on truck driving safety is well placed, considering other challenges that the trucking industry is facing.

Ranking first is a chronic shortage of truck drivers nationwide that could force fleet operators to hire less-experienced drivers who require operator and safety training. Driver compensation and truck parking ranked second and third, but immediately behind them in fourth and fifth position were driver truck fleet safety and insurance availability, which depends on safe driving records.