If you’re in the fleet industry, you have likely seen dashcams on the rise for a long while. Fleets in all industries are using them and are enjoying immense benefits. If you’ve looked into installing them yourself, that’s a significant step in the right direction! Many fleets hesitate because installing dashcams involves a bit of spending at first. However, it is a worthwhile investment that has a hefty return. Not using a dashcam can have considerable costs, and you can feel these losses at any moment. Let’s go over the cost of not using a dashcam.
What Does an Accident Cost?
Getting right down to it, the goal of a dashcam is to prevent accidents. If a dashcam can prevent accidents, what will you be saving?
Let’s look at just the direct costs of an accident. The average cost of an accident with no injuries is roughly $16,500. That’s a massive amount to pay, especially for a small business. If injuries are involved, that amount jumps up to $74,000. It gets even worse if there are fatalities – that figure can be as high as $500,000. Keep in mind that this only accounts for direct expenses such as repair costs and insurance deductibles. What other costs are there to consider?
- Lost productivity
- Increased insurance premiums
- Exposure to legal liabilities
- Damage to your reputation
- Diminished vehicle value
- Administrative burden
- Workers compensation claims
- Litigation expenses
- Employee morale
Every time your fleet drivers get behind the wheel, these risks are at play. You need any protection possible, and that’s why dashcams are such a worthy investment that so many fleets are employing. Let’s break it down: how is a dashcam worth it?
Does a Dashcam Prevent Accidents?
A dashcam protects you in two ways. First, it prevents accidents, and second, it can exonerate your driver in the event of an accident. We’ll talk more about that second aspect later. First, let’s see if dashcams can really prevent accidents.
We’ll use Azuga’s AI dashcam as our example. AI dashcams have many features, one of which is monitoring driver behavior in the cab. These dashcams can see drivers eating or drinking behind the wheel, using their phones, or even yawning or tired. You can set up the system to alert the driver with a warning to correct their behavior. If the behavior happens again, however, you’ll be notified to take immediate action, before the worst happens.
But this dashcam also takes advantage of telematics. It can sense problems like hard cornering, harsh braking, and rapid acceleration: all signs of aggressive driving. Similar to in-cab problems, it will first alert the driver, then you. These fail-safes are in place to prevent accidents from ever occurring in the first place and to create coaching opportunities.
And speaking of those coaching opportunities– coaching means nothing if it is ineffective! How can you make your coaching more poignant than with real, contextual situations? Dashcam footage is instrumental in creating engaging, targeted coaching strategies for drivers. And when your dashcam footage links to your fleet management software, you will know which driver needs coaching on what subject. General training might go in one ear and out the other, but one-on-one specific coaching is certain to get through.
Can Dashcams Exonerate Drivers?
Even with all protections in place, there will always be accidents. It is the unfortunate truth of fleet management. But the truth is, 70% of fleet accidents are not the fault of the fleet drivers. This will be especially true for fleet drivers with the optimal coaching and safety tools through their dashcams. However, if the unfortunate does happen, how can the dashcam help?
The answer is by providing evidence. Your dashcam is your witness in the event of an accident, and it’s the most reliable witness there is. Dashcams provide irrefutable proof, and when they prove your drivers innocent, they will save your fleet thousands on increased premiums, legal fees, and more.
Protect Your Fleet Today!
If you’re looking for the best dashcam solution, Azuga has your back. We mentioned our AI SafetyCam, which is the best dashcam on the market when it comes to covering all your bases. It promotes safety for your fleet and protects you if the worst happens. Learn more by trying a demo with one of our experts.