Published: 19/04/2017

Telematics For Trucks: A License To Save Money In 2017

Telematics For Trucks: A License To Save Money In 2017  

In the competitive world that is running a fleet of trucks or a haulage business, the ability to save money can be the difference between surviving and thriving.  One way that lorry operators are increasingly looking to is telematics for trucks.  Telematics – the method of capturing and interpreting a truck’s data electronically – can help you save on a range of business-critical areas, including truck insurance, fuel and even time. 

In this latest blog from getaquoteinsurance.co.uk, we’ll look at the ways that telematics for trucks can help save you money and time.  We hope you’ll find it useful, but if you’d like to some advice as to how telematics could benefit your trucks or lorries, then please feel free to get in touch.  You can call us on 0800 977 6037, email us by clicking here or send us a message by clicking here.

Telematics For Trucks: What Are The Benefits?

Before we get into the nuts and bolts advantages of telematics, let’s just remind ourselves of what we’re talking about.  Telematics systems are computerised data capture systems that can monitor everything from a vehicle’s location and speed to how well it’s being driven.  Telematics systems have been used in fleet cars for some years and now the benefits are coming to the truck and haulage industries, benefits that include;

Truck Insurance Savings

Truck insurance is a significant ongoing cost for all truck owners and having a telematics system in place can help get you a cheap truck insurance quote.  There are two reasons for this:

  1. As you can monitor driver behaviour through telematics systems, so you can promote safer driving which in turn will reduce the likelihood of an insurance claim.
  2. If the truck or lorry is stolen or hijacked then it will be trackable to its location and the chances of getting the truck and the goods on board back are significantly higher. The prospect of getting the goods back is a major bonus as historically these have often been written off at the insurer’s expense.

The amount you could save on truck insurance is substantial.  A 2015 U.S. study showed that telematics in trucks could lower insurance premiums by as much as 18% - now that’s a saving no truck owner wants to walk away from.

Truck Fuel Cost Savings

As telematics systems are based on GPS, this allows them to calculate the shortest, most efficient route from A to B.  Not only that, many telematics systems can now warn truck and lorry drivers of issues with the pre-selected route and help them to avoid lengthy and costly delays stuck in traffic.  With fuel prices on the rise in 2017 and the duty on diesel set to increase, fuel efficiency is something that every truck owner and fleet manager needs to take extremely seriously.

Improved Truck Safety

Truck safety will save you money – not just by saving you money on your truck insurance as you won’t be making claims – but as it will help keep your truck where it belongs, on the road.  Telematics software can give you a detailed breakdown of how well your trucks are being driven and so give you the opportunity to offer extra training to bad drivers and reward your best drivers.   It has been proved that if drivers know they have telematics software installed on their truck that their driving behaviour improves as they know their every move is being monitored.

Improved Truck Maintenance

One of the great benefits of truck telematics – especially when it comes to owners and operators of a fleet of trucks – is that it can help with maintenance scheduling.  By knowing the mileage of each truck and by having access to the vehicles’ on-board diagnostics, telematics can alert truck fleet managers to when the vehicles need maintenance.  This means that truck servicing and repair can be efficiently scheduled – reducing off-road time – can reduce the risk of accidents and subsequent truck insurance hikes and cut the administration costs of running a truck fleet.

Improved Customer Service

As we have said the truck, lorry and haulage business is a highly competitive one; and while cutting operation costs is vital, it’s equally essential to deliver the goods.  Telematics can help with customer service by offering real-time information on collection and delivery times.  This is a real bonus for many customers - particularly for whom your goods in and goods out are business-critical such as builders, construction and manufacturing businesses – as they can more efficiently plan their activities around yours.

Improved Truck Efficiency

When you employ someone to do a job you have, at some point, to place some trust in them that they are going to do it.  With truck driving this has traditionally meant taking it on faith that they were held up in a traffic jam on the M62 or that loading and unloading took unnecessarily long.  Telematics, however, will tell you where the truck was and give you an idea of what it was doing.  This information can help you weed out any poor drivers you may have and also help you identify good ones that can be rewarded for their diligence.

Truck Telematics: A License To Save Money?

Telematics for trucks can offer significant savings for truck operators.  From truck insurance to truck safety, there are clearly a range of savings to be made.  And with telematics software available from around £15 per month, it’s an investment that truck and haulage firms large and small can easily take advantage of. 

So, are there any downsides to truck telematics?  Well just one, but it’s potentially a big one:  hacking.  To operate, telematics systems need to convey data to and fro and, just like connected cars, they are vulnerable to being hacked.  In 2016 Wired reported how a group of hackers in the U.S. gained access to a truck via its telematics and interfered with the brakes.  This maybe an extreme example but with hacking on the rise, it’s something that truck owners need to seek assurance about from telematics suppliers.

Like To Know More?

If you would like to know more about truck telematics can help reduce your truck insurance or would like some help getting the truck insurance that’s right for you, then please contact us by calling us free on 0800 977 6037email us by clicking here or get a no-obligation truck insurance quote here.