Insurance is a cost of doing business. But like many costs, it can be managed and reduced. A risk management program minimizes adverse effects of accidental losses. As a result, the cost of loss is driven down and insurance costs are driven down as well.
We’ve helped more than 500 trucking fleets save money and reduce accidents through our program. For example, over the course of 4 years, ABC Trucking’s accident frequency was reduced from 20 accidents a year to 2. Over the same time period, their accident severity (avg. accident cost) dropped from $5,000 to $3,000. And as we all know, long term low cost insurance is achieved by driving down losses.
Read more about the steps of creating a risk management program here.