Texas Commercial Vehicle Increases Every Year
If you own or operate a commercial vehicle in Texas then you know that commercial vehicle insurance rates seems to increase every year. It is getting more expensive to operate a commercial vehicle which directly hits your bottom line.
In the fall of 2019 The Texas Department of Insurance approved a request by the Texas Automobile Insurance Plan Association (TAIPA) to increase the rate for commercial vehicle insurance. The rate will increase 4.8%.
The TAIPA is a not-for-profit auto insurer of last resort in Texas, the membership of which includes all Texas-authorized insurers.
In my opinion, if the TAIPA raises its rates then it is pretty certain that rates are rising across all insurers.
Commercial vehicle insurance rates are rising in Texas even if your drivers have great safety records. The reason is due to several factors.
One is the increasing jury awards for commercial vehicle accidents. When the insurance companies pay out those massive awards they pass the cost to their customers in the form of increased premiums.
Another reason is that Texas is a fast growing state. We have more people moving here every day. The increased population creates more chances for accidents and frivolous lawsuits.
Another major factor is the large number if uninsured motorists in Texas. The national average for uninsured motorists is 13%. In Texas it is 14.1%. This affects your rates because the insurance companies face a risk of people filing uninsured motorist claims.
What Can You Do About It?
You cannot control other drivers. However, you can protect yourself by installing a GPS tracking video camera. The video camera can protect you in 2 ways.
- Provides evidence in case of an accident
- Accountability for your drivers
Keep the Lawyers Away
Video evidence is a great tool in case of an accident. Most GPS tracking video cameras comes with a forward road facing camera and a driver facing camera.This way you can see the road in front of the vehicle and the driver.
If there is an accident or some other event then you will have evidence of what occurred inside and in front of the vehicle. This can be invaluable.
The video will hopefully give you the evidence you need to prevent or dismiss any lawsuit immediately. This can save you thousands of dollars in increased premiums and countless hours stuck in a deposition.
Prevent the Accident
The best way to avoid an accident is to prevent it. With video you can make sure that your employees are driving safely.
A GPS tracking video camera can help you prevent distracted driving, especially texting and driving, which is one of the leading causes of vehicle accidents. It is also one of the most preventable.
The video camera allows you to watch your employees driving whenever you want. With a random check you can make sure that they are not using their phone. It is like a random inspection that you control.
If something occurs then you will have accurate evidence to show your driver what happened. There will be no more disputes between you and the driver because everyone will be on the same page. The video does not lie.
The camera will also alert you every time the driver hits the brakes really hard. This could mean that he or she was distracted , such as texting and driving, and then hit the brakes all of a sudden.
It could also indicate unsafe driving habits such as tailgaiting or following too closely. If your driver is continuously doing that then eventually he or she is going to hit someone. When that happens it is going to cost you.
If you can protect yourself by using a GPS tracking video camera then you will be able to help keep your insurance premiums lower and those of everyone else as well.
About Efficient Fleets
We are a full service telematics company based in San Antonio, TX. We are an HD Fleet Authorized Dealer. We provide easy-to-use, affordable GPS tracking and video camera systems for fleets of any size. All of our systems are web based so you can monitor your assets from any where. Our solutions include GPS tracking, video cameras, electronic logging devices (ELD), and installation services. Please contact us at 888-777-4510 for more information or fill our our contact form.
