Load indicating washers are one alternative method that is commonly used to evaluate the amount of preload that high-strength bolts have been properly tensioned during installation. This paper investigates collapse mechanisms and crushing load during the axial compression of the load indicating washer. An experimental technique is used to evaluate the function of the load indicating washer under compressive quasi-static strain rate. A numerical model is presented based on finite element analysis to simulate crushing of load indicating washer considering nonlinear responses due to material behavior, contact boundary conditions and large deformations. The predicted numerical crushing load and collapse pattern were found to be in good agreement with the experimental results. Finally, the effect of the geometry and material parameters of the load indicating washer on crushing loads is investigated. This study provides practical information about using the load indicating washers to confirm proper pre-tensioning of bolts in structural steel fasteners industry.