More and more fleet companies are using CCTV in their trucks and vans as part of their Risk Management strategy. But what are the benefits, and does it really reduce costs?
Forward-facing cameras in fleet vehicles are becoming increasingly popular, as they are the eyewitnesses to what happens when vehicles collide, providing a recorded testimony which helps in resolving insurance claims. The better the evidence the better the outcomes for all concerned.
Mike Hobbs, Haulage Fleet Underwriter, explains: “The installation of CCTV in a company’s vehicles provides many more benefits above protection against ‘crash for cash’ scams. Recording crashes and near misses allows clients to respond – and notify insurers – immediately after any accidents or incidents and consequently to minimise financial and operational risk.”
And with the cameras continually filming, there can also be improvement in drivers’ behaviour, resulting in fewer accidents, meaning lower insurance claim costs and resulting in reduced premiums.
Driving Down Costs
Insurance companies are increasingly prepared to offer incentives, in order to make the installation of cameras more appealing and more affordable. Some insurance may insist on cameras as a condition of offering cover where claims histories are poor without any help with the cost!
Mike continues: “For this reason, our Truck Mini Fleet Insurance product provides a Vision Track VT2000 connected system where the broker’s client only pays the VAT. We do this because we realise that with video evidence a claim can be settled much faster, which helps drive down costs.”
Some CCTV systems offer video telemetry upgrades where the camera alerts the Operating Centre Transport Manager to any instances of excessive braking, harsh cornering, speeding and engine idling.
Mike adds: “This information is invaluable to employers as it can highlight those drivers who are a high risk, and the video footage combined with the data can then be used to provide better training for their staff. This in turn creates a safer and more responsible fleet along with fuel savings and insurance premium reductions.”
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