1. BODILY INJURY LOSS COSTS
While the frequency of auto claims involving bodily injury has fallen over a recent 9-year period, the average cost of claims that do involve bodily injury increased by 32% over the same period.
2. ATTORNEY INVOLVEMENT
With attorneys actively pursuing auto accident business, more claimants now have legal representation. These claims see higher rates of expenditures for medical procedures and treatment. A complete fleet management program can help reduce your exposure.
3. DISTRACTIONS AND IMPAIRMENT
Distractions behind the wheel, from vehicle info-tainment systems and mobile devices to driving under the influence, can lead to significant risks. 70% of Americans worry about being in an accident caused by another driver’s distractions.
4. INEXPERIENCED DRIVERS
A shortage of commercial operators is leading to increased rates of drivers switching companies, and increases the chance that less-experienced drivers are behind the wheel. Operators in new vehicles and covering new routes can also contribute to an increase in accident rates.
5. VEHICLE REPAIR COSTS
Newer vehicles are outfitted with advanced materials and technologically advanced systems designed to make driving more comfortable and safer. When these vehicles are involved in an accident the cost can be much higher. Even minor crashes can result in $3,000 in extra repair costs when sensors are involved and recalibration is needed.
6. BUSINESS INTERRUPTION
An auto claim can cause significant disruption, taking vehicles off the road and slowing or stopping your operation. Having an established business continuity plan can help your organization prepare for and overcome such an interruption.
Contact us today for any further questions on any of your business auto insurance needs.