In the September 2nd edition of Transport Topics, an article summarized how electronic logging device makers believe the federal government’s plan to require most truckers to use the devices will cost the industry less than anticipated. Previously the cost of these ELD’s were around $2,000. Now you can get them for as low as $300.
We have spoken with some of our clients who have already installed ELD’s into their equipment, and they couldn’t be happier about their decision. It has increased productivity, accuracy in their logs, and satisfaction among employees. Not to mention, it has also helped improve their current HOS score.
Now let’s put an insurance spin on this…
When it comes to renewal time and an insurance company is either looking at renewing a policy or writing a new policy, what is one of the first steps an underwriter will take? You got it - they are going to get on the SAFER website and take a look at the policyholder's HOS score. This information is one of major factors that an underwriter takes into consideration when determining the appropriate cost of an insurance program.
Also, let’s not forget that while other carrier’s scores in your same peer group are improving, it has an adverse effect on the other members of the same group.
Please feel free to contact us with any questions or concerns with how ELD’s are impacting your current peer groups' scores in the HOS arena.