How In-Cab Cameras Can Reduce Your Fleet Insurance Cost

This guide explains how cameras can reduce insurance premiums, what types of cameras are available and their applications and how to install cameras the right way to ensure compliance, enabling you to use captured footage to reduce your fleet insurance premiums.

With van fleet operators facing average insurance costs of thousands of pounds per vehicle, even a marginal reduction in premiums can mean significant long-term cost savings.

The simple solution — albeit easier said than done — to reduce fleet insurance costs is to slash the frequency of van accident claims and the amount sought, but how can businesses achieve that?

One such way is to install in-cab cameras.

With any initiative to increase security, safeguard employees or contractors, improve compliance or reduce risk, incremental efforts compound — and installing cameras should be just one component in a broader strategy to minimise insurance claims.

Related Reading: Risk Assessment and Compliance for Van Drivers

What Reduces Premiums And How Can Cameras Help?

If the key to saving money on insurance premiums is to show your commitment to improving safety and reducing the likelihood of an accident or incident that might lead to an insurance claim, what does this look like in practice?

Regular Vehicle Maintenance

Properly maintained vehicles are less prone to mechanical failures and defects, reducing the risk of accidents. Cameras can help managers prove they get fleets serviced regularly and protect against liability, such as if a third party fails to identify a fault. If you need to make a claim, camera footage could support the argument that you took all reasonable measures to resolve an issue. For example, if you ignored unusual engine sounds or warning lights, resulting in property damage you claim for, you might face much higher insurance premiums compared to if you can demonstrate you sought timely advice or repairs to prevent a breakdown or a far worse accident.

Driver Qualification Checks, Training And Development

Fleet operators must ensure that drivers are qualified and competent to operate vehicles safely. Installing in-cab cameras can reduce fleet insurance by demonstrating due diligence.

Cameras allow employers or clients to monitor drivers in real-time and document in-vehicle training sessions, but recorded footage can also serve as material for creating fleet-wide or individual training programmes. These initiatives demonstrate a commitment to developing safe workers and proactively addressing skill gaps.

In-cab camera footage can also support telematics data, giving fleet managers insight into driver behaviour and performance and any trends they may need to monitor.

Related Reading: The Ultimate CHAS Guide To Managing The UK’s Skills Shortage Problem

Proof of Innocence In Fraudulent Claims

Camera footage can be invaluable in fraudulent claims, providing irrefutable proof of how events unfolded. In “crash for cash” schemes, fraudsters stage accidents and accuse an innocent party of negligence — potentially leading to criminal charges — for their own financial gain. Fortunately, cameras can dispute false stories. As the number and severity of incidents increase the perceived risk of an insurer, proving your innocence in fraudulent negligence claims may improve your insurance fleet premiums.

Security Measures Against Theft

The physical presence of a camera alone is a deterrent against theft, but in-cab and external camera footage can also save you money on your fleet insurance by proving you’ve taken additional measures to enhance safety and deter would-be thieves. For example, a sophisticated camera could capture:

• The installation and activation of advanced alarm systems.
• Fleet drivers parking in well-lit areas where the vehicles are less likely to be an appealing target for theft.
• Lorry drivers removing valuables to a safe space when leaving their vehicle unattended overnight.

Related Reading: Why Fleet and Driver Safety Shouldn’t Be a Lottery

As part of our ongoing mission to make the world of work safer, Veriforce CHAS has joined forces with Towergate to launch CHAS Protect — the new insurance solution for CHAS accredited members. CHAS Protect is specifically designed for the needs of contractors and tradespeople.

CHAS Protect aims to help CHAS members maximise their accreditation and commitment to risk management compliance. If you’d like to know more about CHAS Protect or want to request a quote, get in touch with the team today

CHAS 2013 Limited is an Introducer Appointed Representative of Advisory Insurance Brokers Limited. 

Towergate Insurance Brokers and CHAS Protect are trading names of Advisory Insurance Brokers Limited. Registered in England No.4043759. Registered Address: 2 Minster Court, Mincing Lane, London, EC3R 7PD.