Fleet accidents can be exceptionally costly to you and your business. It’s reported that each year, about 20% of fleet vehicles get into accidents, with non-fatal incidents costing up to $75,000 (about R1.2 million). This figure doesn't even account for hidden losses like downtime or damage to your business reputation.
By gaining a clearer understanding of these costs, you can improve your risk management strategies. Keep reading our FAQ to discover the true cost of fleet accidents, uncover prevention strategies, and learn how Cartrack can help you address risk effectively.
The direct costs of fleet accidents are maintenance fees, insurance claims, and medical bills. The hidden costs of fleet accidents are reputational damage, potential legal fees, and operational disruptions (vehicle downtime). Risk management and preventative actions are achievable with the help of a reputable provider like Cartrack.
Fleet accidents increase insurance premiums over time because they’re seen as higher-risk. Because the upfront costs of dealing with an incident can be so high, insurers are likely to adjust rates accordingly, especially based on loss history.
Telematics and fleet management solutions, as provided by Cartrack, help mitigate accident-related costs by having certain proactive tools in place. Features like driver monitoring & coaching, comprehensive reporting, and preventative maintenance can keep your drivers safe and invested in safer work habits. This leads to fewer accidents, which means lower costs related to incidents.
The role driver behaviour monitoring plays in preventing fleet accidents centres around capturing driver behaviours and events on the road, while keeping a record of them for coaching purposes. Through Cartrack’s AI dashcams and driver scorecards, you can identify and correct reckless driving immediately with coaching, and potentially prevent future accidents.
Common causes of fleet accidents include distracted or fatigued driving, reckless & fast driving, and bad weather conditions. Some other, less common causes are worn-out vehicles and dangers on the road (roadworks, etc.).
Cartrack telematics helps reduce fleet accidents by providing detailed feedback, which helps you intervene early, correct those behaviours quickly, and even refine routes. Feedback includes driver behaviour monitoring reports, GPS tracking log histories, and other relevant tools.
Steps that fleet managers can take to reduce costs associated with accidents include:
Cartrack can assist with every step. Although these might seem costly to implement, they’re some of the best risk management techniques that ultimately save your business money.
Fleet accident prevention tactics include:
Telematics systems, like that of Cartrack’s, improve these strategies by offering valuable data for coaching, sending notifications for unsafe behaviours, and helping strengthen risk management.
Yes, Cartrack telematics can improve driver behaviour significantly. When AI technologies are incorporated, this makes driver monitoring clearer and more detailed—especially with recorded events. These insights can be used to coach drivers and give them data-supported feedback, so that they improve their driving habits.
The average accident costs around R48 000 for minor, non-fatal accidents, while fatal accidents can exceed R5.4 million. A significant portion of these costs comes from trucks and commercial vehicles. But when you consider that there are hidden costs, like legal and reputational ones, the price can truly be much greater.
Fleet accidents affect a company’s reputation and customer trust by breaking down dependability &; loyalty, while also creating service delays and potentially hurting staff morale. Frequent incidents undermine customer confidence. But with Cartrack, you can improve safety and transparency, showing your dedication to dependable and professional operations.
