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Topic: TOP 10

Most Expensive Accidents in History

November 14, 2008

The greatest cost of accidents is injury and death. Human life is beyond monetary value. But property losses can also be devastating and crippling to a business. What are the 10 most expensive accidents in world history, in terms of property loss and measured in dollars? Keep reading.

10. SINKING OF THE TITANIC, 1912: $150 Million

This figure reflects just the value of the ship, not the insurance claims, litigation costs and other indirect costs as a result of the sinking. The Titanic cost $7 million to build. That's $150 million in today's dollars.

9. TANKER TRUCK EXPLODES ON GERMAN BRIDGE, 2004: $358 Million

A tanker truck hauling 32,000 liters of fuel collides with a car on the Wiehltal Bridge. The truck crashes through the guardrail and falls 90 feet off the A4 Autobahn. The resulting explosion destroys the bridge.

8. CALIFORNIA METROLINK CRASH, 2008: $500 Million

A Metrolink commuter train crashes head-on into a Union Pacific freight train in Los Angeles this September. 25 people are killed. The liability costs of the resulting wrongful death lawsuits are expected to reach $500 million.

7. B-2 BOMBER CRASH, 2008: $1.4 Billion

A B-2 Stealth bomber crashes shortly after taking off from an air base in Guam this February. It's the most expensive aviation accident ever. The good news: The two pilots are able to eject safely.

6. Exxon Valdez, 1989: $2.5 Billion

The costs of cleaning up the world's largest oil spill (10.8 million gallons) were driven up by the fact that the spill occurred in a reef accessible only by boat and helicopter.

5. Piper Alpha Oil Rig, 1988: $3.4 Billion

The worst off-shore oil disaster killed 167 and completely destroyed a 300-foot platform.

4. Space Shuttle Challenger Explosion, 1986: $5.5 Billion

The explosion of Challenger 73 seconds after takeoff will be remembered most for the psychological damage it inflicted on the national psyche. But the costs of replacing the equipment and investigating the incident also left a mark.

3. Prestige Oil Spill, 2002: $12 Billion

One of the 12 tanks on the Prestige oil tanker explodes during a storm off the coast of Spain. The Spanish, Portugese and French governments all refuse to let the damaged ship harbor. The tanker ultimately splits in half and dumps 20 million gallons of oil into the sea.

2. Space Shuttle Columbia Explosion, 2003: $13 Billion

Columbia is destroyed in re-entry over Texas by an explosion resulting from a hole in its wing that took place during launch 16 days earlier. All aboard are lost. The $13 billion price tag doesn't even include the cost of replacing the shuttle.

1. Chernobyl, 1986: $200 Billion

Damage had to be cleaned up, people had to be resettled and compensation had to be paid out to the victims. Nobody knows exactly how much the world's worst nuclear accident cost. $200 billion is considered a fairly conservative figure.

Note: SafetyXChange would like to thank our friend, Gary Swiatowy, for sending us this list.

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