Can Speed Limiters Reduce Truck Insurance Cost?

According to a recent press release by Road Safe America, research undertaken by the FMCSA (Federal Motor Carrier Safety Administration) revealed that using speed limiters in trucks reduces the crash risk by 50%. That's a very significant figure indeed. As a fleet owner, you might be wondering if could have a favorable impact on your truck insurance costs. The answer is likely to be yes, however the benefits may not stop there.

Steve Owings from RSA suggested that companies using the speed limiters have learned that there are savings in fuel and vehicle maintenance when the devices are used. Owings also pointed out that other devices such as those that perform electronic logging may be advantageous too, by reducing the risk of having fatigued drivers on the road.

With fuel and maintenance being significant expenses for fleet owners, even a small saving of 10% on these costs could represent a significant annual saving. Add to that a potential reduction in truck accidents for your fleet and the potential savings both on insurance and out of pocket accident expenses and the speed limiter begin to look like a very worthwhile option.

So exactly how might speed limiters reduce your truck insurance expenses? The devices have the potential not only to reduce the number of crashes, but to reduce the level of cost for your insurer when an accident does occur - that's because less damage and injury tends to occur at lower speeds. Why not find out a little more about fitting out your fleet with speed limiters and/or electronic logging devices?

Speed limiters are one way to avoid accidents and save money on insurance premiums. Don't forget that keeping good drivers with no or few moving violations can help your premiums tremendously. Making sure they do their pre-trip vehicle inspections can also keep them from having accidents that could be prevented. It can also keep them from being cited while being inspected at the truck scales.

When it comes to buying insurance, price is one factor but make sure you do research into how your insurance company compares in the amount of time it takes them to settle a claim. Each day your truck is laid up while waiting to be repaired after an accident is costing you a lot of money. Make sure you choose a company that has satisfied customers that have good things to say about that company. A good independent insurance agent can help you get this information.

Happy Trucking!

Lisa Sherer is the President & CEO of Berrier Insurance Agency, Inc. located in Northern California. We have specialized in trucking insurance since 1981, serving California, Oregon, Nevada, Arizona, Washington & Utah. We're home of the Truck Insurance Divas!

Please contact me at (888) 472-4915, email me at lisa@berrierinsurance.com or visit us online at http://www.BerrierInsurance.com or http://TruckInsuranceCA.com. We're always available to answer your insurance questions!