The cost of implementing a man-overboard alarm should not be a barrier to saving lives. Nobody wants to bear the invaluable cost of a human life. The good news is there are affordable man overboard alarm solutions that can be easily implemented to decrease the risk of a fatal fall overboard. If you have employees working on or near the water, please consider a man-overboard alarm system’s high return on investment. Let’s dive into the cost of a man-overboard alarm system.
The True Cost of Ownership of a Man-Overboard Alert System
In regards to the cost of a system, you want to look at the total cost over the lifetime of a product, the Total Cost of Ownership (TCO). We recently put our mathematical skills to work to calculate the TCO of our ALERT Man-Overboard devices. Why is this important? There are a variety of products in the MOB Beacon/Locator Beacon marketplace. So it’s important to consider what MOB alarm systems will last longer and understand associated maintenance costs.
Last month, we received 40 ALERT2 Man-Overboard Alarm System Transmitters for a service check-up. This group of 40 allowed us to see how our man-overboard transmitters have fared over some time. We are happy to report that other than updating some worn pouches, outer shells, and batteries, the ALERT2 Transmitters were fully functioning. This proved that units with 5+ years of heavy maritime use require very little maintenance.
In reviewing this sample group of 40 units, and many other servicing checks over the years, we have confirmed our products last 7+ years. Based on a lifetime of 7 years (at a minimum) at an initial cost of $274 plus one set of new batteries, the total cost for one transmitter per day for 7 years is $0.05/day.
Assuming one ALERT2 Receiver will be needed to support five ALERT2 Transmitters (numbers will vary so we took an average). We calculated that the average life of a receiver is $0.44/day. As you increase the number of employees, you decrease the TCO of man-overboard alarm protection. Furthermore, it is important to consider if the alarm system requires installation costs. The ALERT Overboard system has been designed as a DIY Man-Overboard Alarm System. An article in National Fisherman calls it “a “walk-on” system”. It eliminates the need for electricians to come on board and install an independent system. So there are no additional costs for setup.
Important Purchase Factor: How Long Will the MOB Beacon System Last?
If you are involved in purchasing safety technology, a question to ask is “how long will the MOB alerting technology last?”. Emerald Marine Products is proud that our man-overboard alerting devices have been serving the maritime industry for over twenty years. It is doubtful many of today’s Man Overboard Beacon vendors will be around that long. In our twenty years in business, we have seen other MOB Alerting products and technology go out of business.
Bluetooth and AIS man-overboard products are considered “the latest technology” but the truth is, these products can be very costly in the long run. Any technology that relies on Apps will require updates and continued technical support of its software. Bluetooth and AIS are reliant on other vendors’ products. This can double or triple the concern for long-term longevity and support. Most systems are not “commercial-grade” and are not expandable.
ALERT MOB alarm products do not require any software to operate. The ALERT Man-Overboard Alarm System relies on the decades-old wireless transmission on the 418MHz frequency. No need for costly software or updates to keep the technology current. Bluetooth and AIS alerting systems may have a lower initial cost but the TCO may be much higher.
Dependence on Other Technology to Support a MOB Alerting System
Many MOB Beacon App-based systems have a life expectancy of 2-3 years. Since they rely on software technology by the manufacturer this can decrease the life of the device. Constant updating for bug fixes and security concerns is guaranteed. The ALERT Man-Overboard Alarm System requires no software updates to remain functional. It is critical to weigh both initial cost, maintenance costs, and the lifetime of the product to determine the actual cost.
The Cost of Overboard Alarm System vs. a Multi-Million Dollar Lawsuit of a Man-Overboard Fatality
The cost of a human life is invaluable. Unfortunately, if something were to happen to a crew member and they were not protected this could result in a cost far more than investing in a fall overboard alarm. Using the sample figures previously outlined, a crew of five can be protected for $0.69 per day over five years. Furthermore, A fleet of 10 boats and 40 crew can be protected for $6.40/day over five years. If the TCO doesn’t convince your financial department, think of the money spent on a lawsuit for an injury or fatality.
Now Easier Than Ever to Implement a Fall-Overboard Alerting Solution
Our ALERT Portable, DIY Man-Overboard Alarm System can be functional at a job site (vessel or dockside) within minutes. We can make our system available for a no-risk 30-day evaluation to qualified companies. For further information about the financial, technical, or operational aspects of keeping your employees safe, contact Emerald Marine Products. Call us at 800-426-4201 or email info@emeraldmarineproducts.com.