Linking Your Elds: How You Can Reduce Your Semi-Truck Insurance Costs
As a commercial truck driver, or as the owner of a commercial trucking company, the insurance you purchase for your truck or trucks is vital. Unfortunately, those premiums can add up substantially, especially if you have several trucks in your fleet. One thing you may be able to do to reduce your insurance costs is ensure that all of your trucks use electronic log devices. Here's a look at what you should know about making this conversion to help your insurance rates.
What's The Big Deal About Electronic Logs?
Electronic logs are now required for almost every semi-truck that is a 2000 model year or newer. There are a few exceptions in the federal mandate, but most commercial trucks that are required to keep logs will be bound by this mandate.
Electronic log devices track information digitally, eliminating the need for drivers to maintain paper logs of loads, mileage, and driving time. These logs were mandated to help ensure the accuracy of the logs, which is important for overall safety on the road.
How Can Electronic Logs Help Your Insurance Premiums?
Your commercial truck insurance is rated based on the driving histories of your drivers as well as the equipment that they operate. The more your insurance company knows about the safety of your drivers, the better your insurance rates can be.
Since electronic logs are maintained through digital devices, you can easily grant your insurance company access to those logs to see how your drivers are performing. Much like the personal vehicle transponders that insurance companies often use, electronic log monitoring can reduce your insurance rates if your drivers are operating within the law and following safe driving practices.
Should You Consider Linking Your Electronic Log Devices To Your Insurance Company?
Understanding how electronic log linking can help you to save money on your commercial insurance is important, but it's also important that you know whether or not it could truly help you. You'll probably want to plan a ride-along with each of your drivers to assess their driving habits. Make sure that your drivers operate the trucks in a way that will help your insurance.
In addition, consider telling your drivers that you'll be giving the insurance company access to the log devices. This may help encourage your drivers to operate the trucks appropriately since they know that they will be monitored more closely.
Talk with your commercial insurance company today about your options for linking your electronic logs to help reduce your premiums.
Share