There’s been a lot of industry talk lately about the potential benefits of installing forward-facing cameras in trucks — particularly when it comes to saving on truck insurance. In-vehicle cameras aren’t new and they’ve been used by both private car and commercial drivers such as couriers for some time. The footage from them has been used to settle claims, but they are relatively new to the truck and haulage industries. As to whether they can help you get a cheaper truck insurance quote the answer to that is yes; well, sometimes…
It all depends on which insurer you speak to and which camera you are fitting. Some of the leading truck insurers offer no discount whatsoever. Others will offer a discount of £50 per vehicle for any vehicle that has the cameras and agrees to be bound by the warranty, while others will offer a 10% discount if the camera in question is an all-singing, all-dancing model that not only provides accident information but a raft of other driving data too.
So, from a truck insurance perspective, the jury is still out as to the benefits of a camera. But cameras can offer other benefits and in this latest blog from Coversure Dudley, the truck experts, we’ll look at how they can help you reduce your trucking business’s costs.
Prevent Crash-For-Cash Incidents
While fitting a camera may not necessarily reduce your truck premiums they could help you avoid something that will definitely push your truck premiums up; a claim. The epidemic of crash-for-cash incidents is thought to have pushed motor insurance costs up by 10% in the UK over the past few years. With a forward camera, you can provide irrefutable footage that could prove your innocence.
Accidents: Prove Fault
Accidents happen — that’s the major downside of having humans at the wheel, and until driverless trucks hit our roads they will continue to happen and disputes as to who’s at fault will continue to rage. Footage from a camera will make a huge difference in settling these disputes. And the benefits don’t end there; the top-end cameras can supply other telemetric data such as driving speed, style and other information at the point of impact.
Improve Driver Efficiency
As with telematics, having a camera that can monitor a driver’s performance has been proven to increase their efficiency and make them safer drivers. The latter part will definitely help to keep insurance costs down, whilst the former can help you cut fuel costs, maintenance costs and wear and tear on tyres, clutches and engines.
These cameras use GPS and/or Google Map technology to record your vehicle’s position in real time. Should you fall victim to a theft or a hijacking you’ll be able to pass valuable data on to the police which will aid recovery and will give your insurance company one less thing to worry about when calculating your premiums.
Reduce Truck Insurance Fraud
Insurance fraud is sometimes thought of as a victimless crime, but it’s actually nothing of the sort. Every bogus claim adds to everyone else’s truck cover costs. Camera footage, as we’ve said, can help prove what happened in an incident and, if a driver makes a claim and the footage doesn’t support their version of events or if they fail to submit the footage within 30 days, they can be liable to have their excess significantly increased. All this means that drivers should be more honest in their dealings with insurers which will be to the benefit of us all.
Improve Route Management
The data these cameras capture can be transmitted in real time and securely stored for future use. This means it can not only be used to appraise customers of delays and assist in the re-working of delivery schedules, but can help build up a long-term picture of routes which can in turn be used to make efficiencies and savings.
Truck Cameras — A Good Idea?
There are obviously plenty of reasons to install these devices, and who’s to say that as their adoption becomes more widespread that they won’t have a bigger impact on insurance costs too? One concern that has been voiced is privacy; who owns the data and how it is used — vehicle manufacturers for one would love to see it — but that’s a question for law makers. Overall, they do seem like a good idea and with systems available from around £250, they’re an affordable solution too.
Like to Know More About Truck Insurance?
If you would like to know more about saving money on your truck insurance or would like some help or advice, then please contact us. You can call us for free on (01384) 671270, email us by clicking here or you can get a no-obligation truck insurance quote here.