Hunter Nelson explains how Electronic Logging Devices can cut truck insurance costs through upfront credits and renewal discounts. Progressive Smart Haul offers 5% immediate, up to 20% at renewal. Adding a dash-cam with Motive pushes it to 15% immediate, 30% at renewal. Some insurers offer pay-per-mile rates as low as $0.08 per mile.
Hey guys, I'm Hunter Renels from insurance. In this video, I'm going to run you guys through how ELDs can help you save money on trucking insurance. Let's get into it. So right at the bat, having an ELD and integrating it with your insurance can actually save you guys a lot of money. So a lot of these programs now are these insurance companies are starting to come out with these incentives or programs that you can go out there and hook up your ELD to your insurance company to help save you money. And I know 99% of you guys, like, wait, I don't want them seeing everything I do. Believe me guys, they can already see everything that they want to see anyway. Anybody can. But just showing that you're a safe driver can go out there and save you guys a lot more money than you might think. So I'll just get into a couple of programs here, but like one of them is with Progressive. Progressive owns 42% of the market on trucking insurance. So a lot of you guys have them. With Progressive's new program, they have this thing called Smart Haul. I'm sure a lot of you guys already know about this. This is not a new program. But Smart Haul gives you guys 5% off the bat. If you have an ELD, you hook it up with Progressive. Okay, 5% of your $20,000 for your new trucking insurance policy can definitely save you a little bit of money. There's thousand bucks right off the bat there. But then two, you guys can save up to 20% at, at renewal. So you can go on there and save another four grand. Which definitely helps you guys out with that renewal. Because even though, yes, you're getting more years of experience, your trucking insurance company, your trucking company's been around for a lot longer. You're saving money. You should, your rate should be going down. You never know what's going to happen. Your rates might go down, but having that 20% discount definitely doesn't hurt. And also, inflation is going crazy right now and you never know if you're going to get a bunch of violations or what's going to happen with your company. Company right now they do have another thing out there where some of these guys are integrating with dash cams. So just to extend on Progressives. Deal. I know a lot of you guys like dash cams. This is just a forward facing dash cam with motive. So for one, we have a partnership with motive and if somebody were to come to us say, hey, I want to, I want to get a progressive Quote, I want a quote. Progress comes back to cheapest and say, hey, there's a motive program where you guys can get an additional 10% of that little smart haul discount. So you guys can go in there, get 15% off the bat and then up to 30% off at renewal. 30% of 20 grand adds up pretty quick. And even if you're only paying 20, 10 grand a year per truck, you got a couple trucks. Either way, it adds up real quick. That's just one of the programs. There are all sorts of pay per mile programs out there that can be dirt cheap. You can be, you can be paying 8, 8 cents per mile. So if your truck's parked, whatever, you're not paying for insurance, hardly all sorts of stuff that just. There's all these benefits with paper mile insurance, I got another video on it too. But you need an ELD to get hooked up with a paper mile program. Companies like Cover Wheel, Coverville is going to be a big name out there in the trucking space, especially if you're in a tough state like Texas, Florida, whatever. CoverWell has always been offered this program with the ELDs and you get more savings with the dash cam. They offer you $600 off the bat, which is not as much progressive, but you can save up to 30% at renewal. And with the dash cam they basically kind of double that thing. I think it's a 30% with the dash cam and you get 1200 bucks off with the eld and you get 1200 bucks off the bat with the dash cam. Now Cover Whales is dual facing, which I know a lot of you guys are going to hate. Not a half bad deal. If you don't like it, don't go with COVID Whale. But a lot of these companies are offering it now and if they're not offering yet, they're going to be offering it. So a lot of you guys do have dash cam or have ELDs, but start, or start pairing it up with your insurance company because it definitely can give you guys a lot of savings. Another quick thing, just kind of dial back on. This is Nirvana. Nirvana is another big up and coming insurance company. They are killing it. Very similar to Cover Whale but they. I think they do things a lot better. And HDVI Nirvana will go in there and hook up to your ELD before they even offer you a quote One does. HDVI is pay per mile. Nirvana can just be wicked cheap. They're both going to give you big discounts on this stuff. HDVI is going to go in there and adjust your Rate monthly based on how the ELD hooks up and how all that stuff's kind of working. So you can just if you got a fleet of trucks, like you got 10, 20, 30 trucks on there or more, whatever, you can go in there and you can see it's going to give an individual rate per driver. So I know I'm getting off the dash or the ELD's here a little bit, but this is just kind of what these discounts can do. So if you go into your fleet and you see, hey, I got 30 drive, I got 30 trucks, 30 drivers, I've got five of them. They're triple the price everybody else's really drive my insurance price up. You can go look what that driver's doing and what the driving behaviors are of that of that driver. And then it can help you based off of who you fire and who you be hiring. Why your insured so expensive? It gives it to an individual rating which is really helpful in running your guys business. So there's all sorts of discounts here with the ELDs. Big savings up front, even larger savings at renewal. Highly recommend asking your agent about it. We have most of our companies offer this stuff. Pretty much every single insurance company I work with offers this. So if you're interested, please call us. We can let you know about it. Otherwise, go talk to your agent and ask about the smart hall discount, progressive or just any ELD discounts. What the telematics, what they call it here. You guys have any questions, let me know. Otherwise, thanks for watching.
