Leading fleet insurance companies like Rideshur are always trying to develop innovative ways to reduce their customers’ business insurance costs. They do this by incentivizing customers to install camera systems in their vehicles.
Using camera systems to reduce your fleet insurance costs might seem like an unusual approach, but it’s an idea that’s gaining traction among business owners who understand the unique benefits these systems can offer.
Understanding how it works and what you need to consider before taking this step will help you decide if this is the right option for your business or if other options would be better suited to your needs and budget. Here’s what you need to know about using cameras to reduce your fleet insurance costs.
Understanding how it works and what you need to consider before taking this step will help you decide if this is the right option for your business or if other options would be better suited to your needs and budget. Here’s what you need to know about using cameras to reduce your business insurance costs.
How Do Cameras Reduce Fleet Insurance Cost?
Camera systems help drivers navigate through and avoid accidents by recording details about drivers, other cars, and road conditions.
That data helps fleets track their safety records. If an insurance company finds that a particular vehicle is involved in more incidents than others of its type, it may charge higher premiums—or even drop coverage entirely.
With proper use of camera systems to monitor and maintain safe driving practices, fleets can improve driver behavior while reducing their insurance costs. Since insurance companies often price according to how well a given area matches current accident trends for similar vehicles (for example, car collisions or bike wrecks in an area).
One way you can increase savings is by improving your statistics. This approach works best when camera footage and GPS coordinates indicate exactly what happened during any collision or close call; proving that you didn’t contribute to an accident also means you don’t have to pay for it if another driver was at fault.
What Types of Cameras Should You Use?
Decide on one or two types of cameras you will use in your fleet. Common types include mirror-mounted, dash-mounted, and windshield-mounted. You can install rearview mirror-mounted cameras by running a wire from a fuse box behind your mirror into the cab of your vehicle. After that, you have several choices for attaching them to or mounting them on top of your mirror.
Dash-mount and windshield mounted are usually self-explanatory when looking at various models available online. It’s important to know what type(s) of camera(s) you will want before buying them, so you don’t end up with an extra set of parts and a video camera that doesn’t fit properly in any spot inside or outside of your vehicles.
Integration Of Cameras To Your Fleet Management Software
If you want to integrate a new camera into your existing fleet management software, you might need some help. As part of a complex fleet operation, it’s helpful if a professional consultant can walk you through how to make all of the pieces work together.
Once they are up and running, though, it will be easier for you to choose camera locations in real-time as well as avoid costly accidents caused by poorly placed equipment or traffic violations. In addition, using video evidence when necessary will go a long way toward reducing fraudulent claims by employees and unnecessary lawsuits against yourself.
