How Accidents Hurt Trucking Companies.
Trucking companies are often guilty of cutting corners that lead to accidents, but they don’t get to walk away scot-free from them. Trucking accidents can cause serious problems for trucking companies that can threaten their finances and competitiveness in the market.
Find out how accidents hurt trucking companies and what it could mean for you if you’re the victim of one.
Settlement and Lawsuit Payouts
Trucking companies can be on the hook for six, seven, and even eight-figure payouts to victims of accidents if they’re found to be responsible. Trucking is an industry with small margins, meaning any problem with shipment can start to seriously eat into profits. While trucking companies have deep pockets, even they have limits to the costs they can bear. More accidents put them in a worse financial position overall.
If the trucking company is found responsible for an accident, they could be financially liable for large fines if it’s determined that they were negligent in their duties or behaved illegally. Common fines for trucking companies include the following offenses:
- Out-of-service order
- Failure to obey a subpoena
- Poor recordkeeping
- Falsification of records
- CDL violations
- Hazardous materials violations
- Safety violations
- Weight violations
- Tariff violations
- And more
There are dozens of potential fines that trucking companies can incur, many of which have four or five-figure price tags. If a company is racking up lots of fines, they could have an established pattern of negligence that weighs against them as you seek a settlement or take them to court.
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