We quantify the value-at-risk of inter-vehicle collision and detachment for a class of platoons, which are governed by secondorder dynamics in presence of communication time-delay and exogenous stochastic noise. Closed-form expressions for the risk measures are obtained as functions of Laplacian eigen-spectrum as well as their fine explicit approximations using rational polynomial functions. We quantify several hard limits and fundamental trade-offs among the risk measures, network connectivity, communication time-delay, and statistics of exogenous stochastic noise. Simultaneous presence of stochastic noise and time delay in a platoon imposes some idiosyncratic behavior risk of collision and detachment, for instance, weakening (improving) network connectivity may result in lower (higher) levels of risk. Furthermore, a thorough risk analysis is conducted for networks with specific graph topology. We support our theoretical findings via multiple simulations.