2 Important Benefits of Telematics: Increased Driver Safety & New Incentives

When your company vehicles are loaded with telematics technology, it opens up a world of possibilities. Telematics does not only help businesses watch employee behavior. GPS tracking and video recording options can add additional driver safety! 

You wonder how driver safety factors in? Imagine this… A terrible storm strikes the coast of Florida while you have vehicles on the road. All but one return. You call the driver and no one answers the phone.

What do you do? 

If you didn’t have telematics software installed in the vehicle, there is very little that you can do besides calling the police and hoping for the best. But with GPS tracking, you can find the vehicle’s exact location and the driver inside.

Many people have been successfully rescued from life-or-death situations when every precious minute matters. Whether they are suffering from a heart attack or caught in a natural disaster, knowing where your drivers are is crucial.

But there are many other reasons why telematics software can increase driver safety. Let’s take a look at a few of the most important.

driver safety and telematics

Accidents

No one wants to fall asleep behind the wheel, but it happens. Even when we are alert and careful, accidents can still occur. And whether it’s our fault or not, being able to walk away from a crash is a privilege – Not everyone is that lucky. That’s why driver safety is so imperative!

If your driver is incapacitated after a hit-and-run or if he or she goes off the road and is too injured to phone 911, telematics can alert your office, so they can quickly dispatch emergency personnel to the location.

Correcting Dangerous Behavior

Your employees may not like it when you notice that they are not wearing their seat belts or they are not braking enough, but correcting bad driving habits adds to driver safety because it can prevent accidents and save lives. 

You can use telematics data and camera footage as evidence to reinforce rules for your drivers and remedy potentially lethal mistakes before they cause an accident. Reward safe drivers and achieve increased driver safety by encouraging safe driving behaviors and practices. 

Telematics Intel for Enhanced Driver Safety

Your company vehicles, just like your phone, can track their current location, location history, and a chronology of your travels. It has the ability to determine when your vehicle is driven, where it goes, its speed, and whether it’s accelerating too fast or the brakes are hit too hard. Even cell phone or seatbelt use can be recorded!

Businesses that include telematics software are focused on driver safety for their employees, as well as their performance. This, in turn, improves driver retention rates, increases morale, and makes each driver feel motivated to be their personal best, especially with the addition of new incentives.

tax incentives

Driver Safety plus New Incentives

Driver safety is critical for fleet businesses, and both insurance companies and the government know it. When you demonstrate that you are taking every step possible to ensure that your employees drive safely, they reward you with new incentives.

If saving money on the bottom line is important to you, read on to learn about how you can write off telematics on your taxes and reduce your insurance premiums. 

Lower Insurance Premiums

A new fleet driver may be considered a risk by insurance providers, and as a result, the premiums for newly employed drivers are expensive! – Until they demonstrate that they are safe drivers.

Businesses are eager to reduce their insurance costs. They don’t want to put blind faith in drivers and play the waiting game. 

But is there another option? 

Yes! 

Even new drivers can save on their auto insurance with telematics.

To help new employees become more efficient and safe drivers, fleet owners can choose to install fleet telematics hardware and use the software to provide actionable reports. When combined with dash cams, driver behavior can be even better documented.

Insurance agencies commend these technologies and recognize their success in enhancing driver safety and preventing fraud. When insurances are made aware that your fleet is using telematics systems, they may offer you a lower premium right away. This is something you will need to shop around for. 

Telematics may also come into play if the insurance policy that you have purchased from your provider is dependent on mileage.

Not only will a fleet telematics system improve your driving team’s overall performance on the road, but in the event of an accident, the evidence recorded can prove your driver innocent or guilty. 

Tax Break Incentives

Company vehicle owners can find innovative ways to save expenses while remaining competitive with telematics technology! They can boost operational efficiency and help your business to meet the requirements to qualify for tax breaks. 

GPS tracking and telematics systems are getting a lot of attention from businesses because of this potential. 

But you need to have a strong grasp of the tax codes and do your own research if you want to maximize your savings. 

Qualified Fleetistic equipment may make your business eligible for the Section 179 deduction. Under Section 179, small businesses can write off the entire purchase price of certain equipment and technology within the first year of purchase.

For more information, use the link above to learn more. There is a good chance that you can receive compensation for your investment.

Also, there are fuel tax credits available for vehicles that operate off-road. Telematics can help you to document off-road vs on-road miles driven. 

Taking Advantage of New Incentives

One of the most critical components of fleet management is ensuring that all drivers and vehicles are safe. The government and insurance companies know this and they encourage you to use telematics to ensure the safety of your team. 

Insurance price reductions, fuel tax credits, and tax reductions are there for your company to take advantage of, so why aren’t you? Reduce your fleet insurance premiums and minimize your tax burden with Fleetistics telematics today!

2 Attractive Benefits of Telematics: Take-Home Vehicle Policy & Increase Company Profits

A take-home vehicle policy has become increasingly popular over the years. Keeping vehicles out of company parking lots or garages can save businesses and their employees’ money and time.

But how do businesses accomplish this successfully? Using telematics can be the key to improving efficiency in your fleet by including a take-home vehicle policy. 

When a GPS tracking telematics system is in place, it allows employers to track business vehicles no matter where they are on the road. By monitoring their vehicle locations, companies have the flexibility to let their employees take the vehicles home overnight. 

Allowing employees to clock in and out from home can reduce: 

  • Unnecessary mileage
  • Vehicle wear and tear
  • Fuel costs
  • Carbon footprint

In addition to industry-specific advantages, there are many ways companies can enhance their performance by providing staff individual responsibility for their vehicles.

driver enjoying the take-home vehicle policy

1. Responding to Emergency Calls

Before considering whether a take-home vehicle policy is good for your business, think about how you can make the most of it. Take-home policies may be a huge help to your operations and overall customer satisfaction if your service responds to after-hours or emergency calls. 

Response time is often decreased as well as overtime costs. By letting employees relax at home while on call, you can significantly reduce their hours in the office. 

2. Affordable Advertising

If your fleet of cars, vans, or trucks display your company’s information, you’ll have a distinct edge in terms of advertising. Allowing your employees to park on the street in front of their house or in their driveway serves as a billboard for your business.

3. Improve Vehicle Maintenance

Not only do fleet take-home policies increase vehicle longevity, but they also significantly lower their maintenance costs. 

For 8 years, Tacoma, Washington, and its outside consulting firm, Mercury Associates, assessed thirty take-home vehicles compared with thirty-four shared vehicles. The results were astounding! This study discovered that take-home vehicles lasted up to three times longer and repair costs were reduced by over 83%. 

4. Reduce Personal Use in Combination with a Take-Home Vehicle Policy

In the past, there have been many concerns about using a take-home vehicle policy. When entrusted with a company vehicle that doesn’t have a telematics system, employees might use their cars and trucks for personal use. When vehicles are used outside of work, it results in a serious disadvantage by straining budgets. 

But with fleet GPS tracking, companies can feel secure knowing where their vehicles are at all times. This fosters trust with employees and allows the take-home vehicle policy to be permitted without charging fees. 

Tracking driver behavior, mileage, and the health of a vehicle can help to facilitate good practices and proper vehicle use. With Fleetistics telematics systems, you can collect the data that is crucial to your bottom line and decide if a take-home vehicle policy is right for you.

take-home vehicle policy and increased company profits represented by a dollar bag

Not only Take-Home Vehicle Policy but also an Increase in Company Profits

If you are looking to reduce your expenses and increase your return on investment, Fleetistics telematics systems can do exactly that!

Once your management team can track vehicle routes, locations, mileage, and other valuable information, you’re well on your way to boosting your fleet’s profitability. 

Field service companies have a high cost of fuel and with gas prices skyrocketing, that’s bad news for your ROI. Fuel efficiency depends on how well your drivers behave. Bad habits can cost you large amounts of money. 

  • Aggressive driving
  • Speeding
  • Sitting idle 

When businesses use telematics data, not only does the management team receive a warning, but so can the driver using our driver feedback features. This gives them the opportunity to immediately correct their behavior and saves you gas and frequent employee turnover. 

Prevention is Key

Everyone knows that engine trouble typically begins as a small problem. When it goes unnoticed, it evolves into a bigger and more expensive issue. 

In the event of any engine trouble, Fleetistics telematics can notify you so that you can take action right away. By comparing current performance to prior data, these systems can determine if the engine is struggling. 

Receiving early notice that your vehicle needs maintenance can save you thousands of dollars in repair costs.

Not only that, but when your employees know you can monitor their driving behavior, they also drive more carefully, which prevents unnecessary damage to your vehicle. Whether they avoid accidents, flat tires, or excessive wear and tear, you save in the end.

One direct way you will save is on your insurance premiums. When your employees have clean driving records, your premiums will be cheaper. Your insurance provider may even reward you with reduced premiums just for implementing telematics!

You will have complete visibility into the use of each vehicle in your fleet once you have telematics data collected. By analyzing the data, you can cut operating costs and improve your workflow.

When you invest in telematics, you can plan your operations precisely, easily implement a take-home vehicle policy, foster safer driving practices, and increase company profit.