How to Reduce Business Risk When Offering Company Cars

How do you build a Safety First environment into your organization? Start off by addressing one of the biggest exposures of any company, the people driving your company cars and trucks. Accidents can happen even with the most safety-oriented companies so it's better to be prepared with a great business auto policy.

You can reduce your risk through a comprehensive safety program that covers the basics to reduce risk and handle any issues that can arise.

Commercial auto policies can protect a mobile company but can cause your costs to rise exponentially if handled poorly.

Here are some quick tips to consider your risks:

• Select appropriate drivers to represent your company. These drivers are on the roads representing your company so be sure they meet the appropriate guidelines set by the insurance carrier and take what you see on their driving history seriously.

• Implement and have sign-offs on expectations, standards of driving and reporting an incident.

• Have an electronic device training and standards as part of your driver’s training program. These types of devices are a big part of our lives and we rely on them daily. However, we need to take a look at how they are distracting the drivers, how to limit the use and have policies in place to protect the drivers and your company.

• Have your insurance carrier partners and/or broker come in as a third party to do an annual training for your company. They want you to keep safety at the forefront of your mind as well as your employees. If you are not comfortable with your broker and/or carriers there are plenty of third-party vendors out there that will help implement a driver’s safety plan and help manage the risk more appropriately.

• Add a telematics program. These types of programs can track the driving habits of your employees. This helps business owners help control their auto insurance rates, and feel in control when it comes to knowing how your workers are treating your company vehicles.

Use this list as a starting point when you talk with your broker and/or safety person. The idea is to keep safety and safe driving in front of us at all times. These concepts can be a positive thing for your reputation with your employees, carrier partners, insurance broker and even your community. They can also help you have a more favorable rating with your insurance carrier and give you a better standing with them, which can also have a positive impact on your insurance premiums. Call us today to talk to an expert to build a business auto policy that works for you and your business.