Top 5 risks to your commercial auto fleet

Advancements in auto technology, a shortage of vehicles and skilled auto technicians, and a variety of supply chain issues all contribute to increased vehicle and parts costs — making auto claims that much more expensive. In addition, jury verdicts for bodily injury claims are rising at a staggering rate. According to the American Transportation Research Institute, verdicts grew over 50% each year from 2010 to 2018.¹

While you can’t do anything about the price of vehicle cameras and sensors, you can take steps to help ensure that your fleet always follows best practice safety procedures to avoid damages in the first place. For example:

• Institute regular training for your workforce to ensure that they are up to date on safety measures.
• Continually reinforce your safety policies.

When fleet owners have difficulty finding and keeping experienced drivers, they might have to rely on less experienced drivers, and that can lead to increased risk for accidents.

To give your fleet the best opportunity for success, regardless of experience, consider:
 

• Checking the off duty driving record of potential employees as part of the hiring process.
• Installing telematics programs in your fleet to track each vehicle’s location, mileage, speed, and driving behaviours such as hard breaking, swerving, or turning.

With telematics, your risk manager can view drivers’ behaviors and use that information to identify areas for training, predict mechanical failures that can keep drivers from breaking down on the road, and even incentivize safe driving.

According to the CDC, over 3,000 people died and 424,000 people were injured in 2019 in crashes involving a distracted driver.²

To help your drivers stay between the lines and at a safe distance from other drivers, consider:

• Instituting a strict policy of no phone use while driving.
• Purchasing vehicles with advanced safety features such as lane detection and autonomous driving capabilities to alert the driver or readjust the vehicle if it veers out of the lane. 

Catalytic converters are used to convert a car’s hazardous exhaust into less harmful gases. But these days, they’re being stolen and sold for the precious metals they contain, namely palladium, platinum or rhodium, which are sold for high prices on the black market.

To prevent thieves from stealing catalytic converters from your fleet (and damaging your vehicles in the process), consider:

• Parking your vehicles in a well-lit, enclosed, populated, and secure parking lot or garage.
• Installing catalytic converter anti-theft devices. While thieves might get $50 or more for your catalytic converter, replacing one may cost you hundreds if not thousands of dollars.
• Paint, label or engrave the catalytic converter with the vehicle’s VIN number to make it easier to track down if it’s stolen.

According to experts, climate change is increasing the frequency and intensity of extreme weather including rain, flooding, droughts, and tornadoes.³ These weather patterns greatly contribute to dangers on the road. On average, 1.2 million vehicles crash each year due to weather conditions.⁴

To help keep your drivers safe on the road:
 

• Allow your drivers to take extra stopping time and train them to be alert for changes in road conditions — like going from dry to wet pavement.
• Take advantage of technology available in today’s vehicles such as antilock brakes and electronic stability control.
• Properly maintain your vehicles. Inspect brakes regularly and ensure tires have ample tread and are properly inflated.