As the cost of new and used vehicles go up, we continue to see a shortage of parts and supplies for the creation of new vehicles and repair of used vehicles. For a commercial business owners this indicates an important time to take the proper proactive steps managing the risk related to their vehicle in order to minimize issues.

Whether you oversee a fleet of company vehicles or your employees drive their own vehicles for business, taking the right steps to manage on-the-road exposures is a must to reduce the risk of accident, injuries and control losses.

To help combat this risk, consider if these practices are a part of your company’s fleet management program.

Prioritize Safety

  • Standardize driver qualifications and screening and continuously monitor motor vehicle driving records via state programs or other commercial applications.
  • Instill the importance of safe driving behaviors, such as using seat belts, not driving aggressively, no cell phone use policy, create safety manuals.
  • Develop formal policies on distracted driving, driving schedules, use of personal vehicles, refresher training, and accident reporting protocols. Monitor for compliance, follow through on consequences for those who are non-compliant, and update policies as needed

Utilize Technology

  • Consider using telematics data to help identify driver behaviors—like speeding or sudden breaking—that can contribute to accidents
  • Leverage onboard diagnostics to capture data on your most critical vehicle-use parameters, such as speed, fuel consumption, and mileage to optimize routes and schedule maintenance.

Prior Planning Prevents Poor Performance

  • Benchmark accident frequency against expected rates, based on criteria like vehicle type, location, and industry, and compare it against that of peers.
  • Review telematics data and conduct interviews with drivers, managers, and others to identify the root causes of poor driving—such as fatigue, distractions, or tight delivery schedules—and develop action plans to address them.
  • Formalize a fleet management program that meets your company’s needs by partnering closely with an insurance provider that understands the spectrum of commercial auto risks – and has the consultative support and tools available to manage them.

When it comes to reducing your company’s commercial auto risks, engaging with a trusted insurance partner can help maximize safety and control loss-related costs. 


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