Trucking Insurance Advantages

What insurance companies look at to determine your rates

What are you doing right now to change your exposure to accidents? This is one of the questions insurance companies look at each year to evaluate your insurability. For a company to insure you, and for your transportation business to be profitable, you must decrease your overall accident frequency.

Loss analysis and your “loss ratio”

Frequency of accidents includes all your company’s accidents for the entire year, up to five years. Higher frequency of accidents for multiple transportation companies builds severity in the industry, increasing insurance rates across the board.

Improved driver performance

There is only one way to affect change in the area of transportation insurance: improve driver performance. Improving driver performance is dependent on efficient training and accountability. The level of accountability required in the transportation industry is only achievable through the use of digital employee training software, like Infinit-I Workforce Solutions.

How Infinit-I Can Help

It is federally mandated that every interstate commercial trucking company must carry a specific minimum of liability coverage, which is generally at a cost of $750,000. On top of that, trucking companies MUST renew their insurance policy by law every twelve months.

Infinit-I Workforce Solutions arms your underwriter with the safety training documentation necessary to improve insurance rates with your broker at renewal.

Seeing is Believing

Insurance Advantages of Infinit-I

“With Infinit-I we have reduced our training cost by at least 50% and have a more uniform training and better accountability which recently allowed us to negotiate a 4.3% reduction in our liability insurance premium.”
Hercules Forwarding Company
Dannie Watkins, Vernon, CA / Former Safety Director

5 Ways Infinit-I Can Help

Below are five ways that trucking companies can utilize Infinit-I Workforce Solutions to help improve driver performance, thereby improving your insurance rates:

1. Reduces your exposure to increased insurance premiums

The amount of emphasis your company places on driver training directly impacts your insurance premiums. If your company has a high frequency of accidents, and is not addressing behaviors through awareness training, you could experience higher insurance premiums.

2. Keep drivers knowledgeable of new rules and regulations

Rules and regulations in the transportation industry change on a regular basis. Many companies are still using DVDs for their safety training. DVD training is ineffective and unhelpful to your drivers, and can be considered an unreliable training method if your safety practices come into question in court. Infinit-I Workforce Solutions provides short, up-to-date training videos that keeps drivers engaged.

3. Identifies negative driver behavior trends and reverses them

Infinit-I proves that you’ve made investments in your organization to improve safety performance. Infinit-I tracks driver training and performance and holds your drivers accountable through corrective action training. If your commitment to safety training is ever questioned, either by lawyers or by your insurance providers, Infinit-I Workforce Solutions is ready to prove them wrong.

4. Automatically documents your drivers’ safety performance training

Unlike DVD and in-person training that requires you to bring all your drivers into the terminal, mobile training completed through Infinit-I Workforce Solutions keeps drivers moving and making money. Digital training places a short test at the end of each training video, which documents that your drivers watched and comprehended the material.

5. Provides ongoing training to your professional drivers

Truck drivers should be saturated in training on defensive driving skills and FMCSA regulations. With over 800+ videos on a wide range of safety topics, Infinit-I Workforce Solutions makes it easy for your company to provide ongoing training that keeps best driving practices top of the mind.

Categories