Apr

15

Indiana Truck Injury Attorney

April 15, 2010 | Comments Off

John P. Young is your Indiana/Indianapolis truck Accident and truck injury lawyer. Did you know that semi tractor-trailer accidents, big truck accidents, and large truck accidents cost more than just the injuries and lives of Hoosiers?  Of course you know that trucking cases cause broken bones, back injuries, spinal cord injuries including paraplegia and quadriplegia, blindness, burns, amputation and wrongful death.  They also cause millions of dollars in lost revenue to the trucking companies and to our economy.  The Federal Motor Carrier Safety Administration has issued the following statistics associated with these terrible crashes.

REVENUE NECESSARY TO PAY FOR ACCIDENT LOSSES

THIS TABLE SHOWS THE DOLLARS OF REVENUE REQUIRED TO PAY FOR DIFFERENT AMOUNTS OF COSTS FOR ACCIDENTS

It is necessary for a motor carrier to generate an additional $1,250,000 revenue to pay the cost of a $25,000 accident, assuming an average profit of 2%. The amount of revenue required to pay for losses will vary with the profit margin.

YEARLY ACCIDENT COSTS PROFIT MARGIN
  1% 2% 3% 4% 5%
$1,000
5,000
10,000
25,000
50,000
100,000
150,000
200,000		 100,000
500,000
1,000,000
2,500,000
5,000,000
10,000,000
15,000,000
20,000,000		 50,000
250,000
500,000
1,250,000
2,500,000
5,000,000
7,500,000
10,000,000		 33,000
167,000
333,000
833,000
1,667,000
3,333,000
5,000,000
6,666,000		 25,000
125,000
250,000
625,000
1,250,000
2,500,000
3,750,000
5,000,000		 20,000
100,000
200,000
500,000
1,000,000
2,000,000
3,000,000
4,000,000
REVENUE REQUIRED TO COVER LOSSES

Accident costs (direct + indirect) consist of any or all of the following:

Direct Costs:

· Cargo Damage

· Vehicle Damage

· Injury(s) Costs

· Medical Costs

· Loss of Revenue

· Administrative Costs

· Police Report

· Possible Effect on Cost of Insurance

· Possible Effect on Cost of Workmen’s Compensation Insurance

· Towing Costs

· Storage of Damaged Vehicle

Indirect (Hidden) Costs:

· Lost Clients/Customers

· Lost Sales

· Meetings Missed

· Salaries Paid to Employees in Accident

· Lost Time at Work

· Cost to Hire/Train Replacement Employees

· Supervisor’s Time

· Loss of Personal Property

· Replacement Vehicle Rental

· Damaged Equipment Downtime

· Accelerated Depreciation of Equipment

· Accident Reporting

· Medical Costs Paid by Company

· Poor Public Relations/Publicity

· Increased Public Relations Costs

· Government Agency Costs

Safety is everyone’s business.  If you or a loved one has been injured in a semi tractor-trailer accident, call John P. Young now.  Put his 22 years of experience representing injured and wrongfully killed Hoosiers in their quests for fair compensation for their injuries.  Contact Mr. Young, toll free, at 1-888-639-5161 or on the web at john@youngandyoungin.com.  Remember, there is never a fee unless we obtain fair compensation for you and your family.

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  • Young and Young
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    Since 1954

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    128 N Delaware St., 3rd Fl
    Indianapolis, IN 46204

    Phone: 317.639.5161
    Fax: 317.639.4978
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