7 Tangible and Intangible Impacts of a Vehicle Fire

When it comes to a heavy-duty mobile equipment asset catching fire, there are a range of resulting impacts - and all are devastating to an operation. A small fire that goes unnoticed can rapidly engulf an entire machine and lead to a total loss. So, what are some of the tangible and intangible impacts of a vehicle fire?

1 – Endangerment of Operator

A fire puts the equipment operator, an irreplaceable asset, in serious danger. Considering the large size of some vehicles, it’s possible the operator won’t see the fire until it’s too late. Fire extinguishers should be used to help the operator create a means of egress for exiting the vehicle but should never be used as the sole means of dowsing a fire.

2 – Loss of Mobile Asset

Heavy-duty mobile equipment is an investment. A quick-spreading fire can easily overtake an entire asset, costing an operation time and money (and headache) to replace. And, if rental equipment must be brought in to fill production gaps, this can result in tens of thousands of dollars in added expenses.

3 – Loss of Natural Resources

A fire might also spread to the resources being carried by or in proximity to the equipment, literally causing revenue to go up in flames alongside the vehicle itself.

4 – Halted Operations

If an essential piece of equipment is out of commission due to a fire, operations either stop, slow, or grow costly when rental machines are required. It may also be necessary to repair damages made to the site and coordinate clean-up efforts.

5 – Increased Insurance Costs

If proper measures weren’t taken to mitigate equipment fire, most insurance carriers won’t cover the loss. An insurance claim requires both time and money, not just once but over time in the form of raised annual rates.

6 – Fines

Heavy-duty mobile equipment fires can result in costly fines related to governmental compliance, workers’ compensation, and the like.

7 – Bad Press

Depending on the nature of the operations, an on-site fire of any kind can reach the media and negatively impact how your customers, investors, and the public view the organization, especially as it relates to your safety protocols.