How Do Commercial Truck Accidents Affect the Trucking Industry and Its Reputation?

The fallout of a truck accident hurts everyone it touches, from the company itself and its drivers to victims and their loved ones. Additionally, collisions can have a devastating impact on the trucking industry and its standing in the public eye. A sudden rash of collisions in an area can lead the public to wonder about trucking companies’ safety protocols and question drivers’ safety standards, leading to an outcry for change.

Find out more about how accidents can influence how the public views trucking companies and what that means for the industry as a whole. If you or someone you love has been injured in a crash, let the team at Bailey, Javins & Carter fight for you. Call our team of Charleston truck accident lawyers at 800-497-0234 today.

Accidents and Their Effect on Safety Records and Insurance Costs

Commercial truck collisions draw local and national attention, which means that a crash doesn’t just hurt those involved. It can bring scrutiny to the trucking company and the industry as a whole. Accidents pose a significant danger to public safety and drive down a company’s safety records. Safety numbers are an important metric for measuring how well a company enforces safety standards and screens its drivers. An unusual uptick in collisions can be brutal for a company’s numbers and lead to uncertainty among consumers and legislators alike.

Truck accidents are known for being incredibly expensive, which makes them a nightmare for insurance companies. A company with an above-average amount of collisions can expect to see their rates jump significantly. In some cases, they may be dropped entirely. The industry as a whole carries the weight of this financial burden.

Legal and Financial Consequences

In the aftermath of a crash, a company may be exposed to various legal and financial liabilities. Victims have the right to seek compensation, and thanks to the amount of evidence available in truck accident claims, they have a good chance of recovering what they are owed. If there are multiple vehicles involved or private property is damaged, the company may face multiple lawsuits at once.

A company’s legal issues can become a major financial burden. Even with a legal team on hand, a company may be hit with tons of unexpected legal bills, high settlements, and other expenses related to their drivers’ collisions. The longer a legal issue drags on, the more likely it is to catch the attention of a local or national news outlet. Then, not only is it a financial issue, but an issue affecting the company’s reputation.

Regulations and Compliance Oversight

Regulatory agencies that oversee trucking companies have certain numbers they expect companies to hit. When a company exceeds expected accident numbers, it should expect to come under heavy scrutiny by regulatory agencies. In-depth audits and investigations can take a toll on a company’s time and finances, and any violations uncovered by agencies can lead to financial penalties.

Negative Public Reputation

People know trucking companies. They see trucks every day on their route to work or school dropoff, and any negative media featuring those companies is likely to stick in their minds. When a company gets caught up in a high-profile collision, the subsequent media coverage and commentary can drag its name through the mud. Whether or not the accident in question was the company’s fault or completely unavoidable, their name can become muddied simply by association. The more severe the damage or the more tragic the story, the more their reputation will suffer.

Beyond just harming their reputation, this can actually lead to measurable financial losses. Companies do not want to do business with trucking companies that are unsafe or have a negative public image, so they may terminate contracts early or go with a competitor. Drivers may also be wary of working for a company with a poor reputation and consequently seek employment elsewhere.

Choose Bailey, Javins & Carter for Your Accident Claim

If you or someone close to you has been hurt in a truck collision, find out if you are entitled to compensation. Set up a consultation with one of our experienced truck accident attorneys in Charleston to explore your next steps. You can call us at 800-497-0234 or connect with us online to get started.