In this paper, a finite element analysis technique of rolling stock models for collision-induced derailments was suggested using rolling contacts for wheel-rail interaction. The collision-induced derailments of rolling stock can be categorized into two patterns of wheel-climb and wheel-lift according to the friction direction between wheel flange and rail. The wheel-climb derailment types are classified as Climb-up, Climb/roll-over and Roll-over-C types, and the wheel-lift derailment types as Slip-up, Slip/roll-over and Roll-over-L types. To verify the rolling contact simulations for wheel-rail interaction, dynamic simulations of a single wheelset using Recurdyn of Functionbay and Ls-Dyna of LSTC were performed and compared for the 6-typical derailments. The collision-induced derailment simulation of the finite element model of KHST (Korean High Speed Train) was conducted and verified using the theoretical predictions of a simplified wheel-set model proposed for each derailment type.