A dashcam is a vehicle camera installed on the windshield of the car, truck, or any other vehicle. It records the driver’s eye view of the road. Modern dash cams front and rear cameras can record the in-cabin view of the vehicle, as well.
Dashcams offer many benefits for the users, they are especially beneficial for businesses with huge fleets. Dash cams are enabled with GPS technology and can be used to know about the whereabouts of the vehicle, any time, anywhere.
Vehicle cameras can be integrated with fleet maintenance software to manage vehicles effectively. Fleet managers can view the location of the vehicle, driver behavior, etc. looking at the dashcam footage from their mobiles or laptops.
Do fleet dashcams lower insurance costs?
Businesses can save a lot of money by installing fleet cameras. One of the most significant savings is insurance costs. Businesses with fleet dash cams pay fewer premiums in comparison to those without dash cams. Many insurers offer annual discounts from 10 to 30% for fleets with dash cams.
How fleet dash cams reduce insurance costs
Insurance companies charge premiums based on the risk assessment of the client.
Without dashcams, companies have to incur huge expenses in the unfortunate incident of an accident.
Apart from the damage to the assets, they have to spend huge money for liability settlements, survivor payouts, medical expenses, life insurance of the drivers, and exorbitant penalties.
Dashcams help fleet operators avoid many risks such as false claims, scams, and bad driving behavior. So, fleet operators with dashcams pay fewer premiums. Here are some reasons why dash cams lower insurance costs.
- Identify risky Behaviors
Dashcams help fleet operators reduce vehicle accidents by providing insights into driver behavior and road conditions.
Fleet managers can identify risky driving behaviors such as tailgating, distracted driving, and harsh driving. They can take corrective measures to coach drivers to avoid accidents.
- Lessen legal costs
Fleet operators are always at the risk of extortion and fraudulent claims.
Hiring a lawyer to defend your case can prove to be expensive if the court process takes a long time. Having a fleet dashcam fastens the entire procedure and reduces your legal costs.
- Avoid scams
You can capture every detail occurring on the road and in the vehicle using the dash cam front and rear cameras.
Most dash cams record the footage with time and date stamps. This helps to eliminate cash for crash scams, staged accidents, false claims, and other insurance fraud.
Dashcam footage can be used as evidence to disprove fraudulent claims and save your drivers.
- Quick processing of claims
Without dash cams, the process of collecting evidence of the accident is a lengthy and time-consuming process.
Dashcams with G -sensor technology can identify collisions and record frame-by-frame footage of the accident. This footage can be shared directly with your insurance providers for quick processing of claims.
- Protects Drivers
Truck tracking systems with dash cams are the best choice to protect your drivers from accidents and false claims.
The camera footage can be used to identify bad motorists, who intentionally break before the vehicle and cause accidents. The camera recordings can also be used to contest wrong tickets and false accusations.
- Reduce admin work for insurers
Processing insurance claims is tedious work for insurance companies. They have to collect all evidence such as pictures, witness statements, etc., which involves time and manpower.
Dashcam footage provides all the information needed to verify and process the claims and saves time for the insurance companies.
- Improves cooperation between insurers and fleet operators
Fleet dash cams improve cooperation between fleet operators and insurers. They offer clear evidence of both the on-road and in-cabin conditions during accidents and help to fix responsibility. Thus reducing the friction between insurance companies and fleet operators.
Apart from reducing insurance claims, fleet cameras provide many other benefits to fleet operators.
Some of them are, they help to reduce fuel theft by providing 360-degree views of the vehicle, improving the overall safety of the fleet, and safeguarding the trucks from vandalism.
Fleet operators must invest in good quality dash cams with built-in GPS systems to get optimum benefit.
They should choose a camera with high picture quality, good field-of-view, and the night vision to make sure that they get clear footage.
Fleet cameras offer a win-win proposition to both parties by helping fleet operators to reduce their costs, and insurers to reduce their payouts.
They are the best vehicle tracking device that helps businesses to reduce accidents, promote safe driving habits and protect the employees from fraudulent claims.
Insurers on the other hand can get accurate risk insights, simplify claim processing, and reduce admin work.
