For decades, businesses with auto fleets have wished for consistency in insurance premiums. The good news is technology is now available to track actual driving habits, resulting in potential rewards for safety.
Many insurance companies are rolling out "telematics" to help base premiums on the insured's actual driving exposure. There is a wide variety of devices used to collect data on behaviors such as speed, distance driven, hard braking, and the duration someone has been driving. This data helps insurance carriers know what the true risk is for a particular driver and that driver's employer. Not only do these tools allow insurers to charge more fairly for coverage, they can also help business owners monitor their fleets. Many businesses are jumping on board and experiencing benefits of overall premium stability, while also increasing fleet safety and efficiency.
For more information on how such monitoring could benefit your auto fleet's safety and insurance costs, contact your agent or broker today.