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8 Reasons to Implement a Fleet Loss Prevention Program

fleet accident

Loss control is a management priority whether a fleet is large or small. A Fleet Loss Prevention Program can decrease insurance claims and help mitigate the frequency and severity of future losses. Often the other tangible and intangible benefits of these types of programs can be overlooked, but are just as valuable to your company!

These programs should be considered when implementing strategies for reducing and/or transferring organizational loss.  

8 Reasons to Implement a Fleet Loss Prevention Program

1. Improve efficiency

Less accidents mean less time spent dealing with the aftermath.

2. Improve public image

By avoiding accidents, organizations avoid scrutiny from the public eye and retain a healthy reputation

3. Reduce employee injuries

Implementing a fleet loss prevention program directly reduces absenteeism, worker's compensation premiums, and the amount of worker's compensation claims as well as health and disability premium.

4. Employees feel valued

By incorporating a fleet loss prevention program, organizations are indirectly sending employees that they care about them. This reinforces the importance of safety and the value of the people.

5. Fewer accidents

Attention to loss control will reduce the number of accidents over time.

6. Reduce accident costs

These costs come in two forms: insured costs, which are typically repair/replacement costs covered by insurance and uninsured costs, which come in the form of deductibles/damages below the deductible that are not claimed

7. Compliance with government regulations and legal requirements

Compliance with regulations makes meeting minimum safety standards a policy and ensures that both drivers and vehicles are safe.

8. Lower insurance costs

Fleet loss prevention programs reduce individual accident experience which in turn reduces premiums. 

If you'd like more information on Fleet Loss Prevention Programs check out this sample program from JBS Insurance: Sample Fleet Loss Control Program.

ClearRisk's Claims, Incident, and Risk Management System now includes a Fleet Management Module to track your vehicles from purchase through maintenance to retirement. Want more information?

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Topics: Fleet Loss Prevention Program Loss Prevention ROI Benefits of Fleet Loss Prevention claims management software Risk Management Software incident management software municipal fleet management risk mitigation plan Sample Fleet Loss Prevention Program lower insurance costs