Many businesses have company vehicles that are necessary for work. In addition to employees driving these trucks and cars, the owners do as well. One only needs to take a quick glance at a company’s financials to see the outrageous increases insurance companies have burdened them with.
Insurance companies seem to have little problem increasing rates on a regular basis. And heaven forbid, if a policy is actually used (even with a minor fender bender) big rate increases are bound to ensure that the policy holders are punished for it.
Brokers I have spoken to claim that rates continue to rise because of the overall replacement cost of vehicle parts. Especially now that we are basically driving “computers on wheels”. This may be something that cannot be avoided.
Yet what can be avoided is the other factor mentioned in that “too many people out their drive like idiots!”
Here is a short list of what can be addressed. With the powerful arm of the insurance industry, pressure should be put on state legislators to the following:
- Create an entire police division to enforce courteous and reasonable driving. Make this enforcement truly pay for itself by levying heavy fines and, after a third offence, impounding the owner’s car or truck. Impound cost, in addition to the ticket itself should be like those associated with a DUI. One month of taking the bus or calling an Uber every day should definitely pound in the message that driving like a possessed demon is unacceptable.
- Ticket drivers who continuously drive with their high beams on, as this can create temporary blindness and increase the likelihood of road rage.
- Increase fines for those who text while driving.
- Rein in the attorney firms who play an accident incident as if it was someone’s opportunity for a “lottery jackpot.” Yes, bad actors always need to pay for poor, negligent and reckless driving, but it is really getting ridiculous!” Remember, Insurance passes this on to YOU.
Will insurance companies address this?
Probably not. So far, it seems much more convenient for them to simply pass on the cost of otherwise unnecessary accidents on to everyone, yourselves and your employees included.
And while the Texas State Insurance Commissioner appears to be asleep at the wheel, these cost will continued to be passed on to the business’s customers who are left with little choice.