We are excited to announce that small and midsize commercial trucking companies in Arkansas and Missouri now have access to High Definition Vehicle Insurance (HDVI)’s, dynamically-priced insurance. At HDVI we provide fleets with data, tools, and insurance coverage to increase safety, mitigate risk and reduce insurance costs using onboard telematics data to inform real-time risk models.
According to the Arkansas Trucking Association, 86% of communities in Arkansas depend exclusively on trucks to transport their goods, and the Missouri Trucking Association reports more than 70% of communities rely on trucking exclusively.
“There are nearly 11,000 commercial trucking companies in Arkansas and Missouri that are crucial to the states’ economies, and insurance is a significant portion of these fleets’ operating budgets,” said Chuck Wallace, CEO and co-founder of HDVI. “In most cases, insurance companies are only reviewing safety records and adjusting premium costs during annual renewals – often resulting in premium increases. With our HDVI Shift product, each month we help fleets identify opportunities to improve safety, and when they make safety gains, they can reduce their monthly base premium up to 12%.”
HDVI Shift® is a first-of-its-kind, dynamically priced commercial insurance product that allows fleets to reduce their base monthly premium based on real-time driver safety data. The HDVI Fleet Services team meets with fleets monthly to review data and provide insights to help them improve safety and reduce costs. HDVI also engages drivers through the HDVI Driver+ mobile app where they can earn rewards based on safe driving behavior and receive valuable safety information.
Farris Evans Insurance Agency is one of the agencies that currently sells HDVI insurance to trucking fleets in Arkansas and Missouri.
“Safety is a top priority for many of the fleets I work with, but not enough fleets use front-facing cameras,” said Chadwick Willoughby, president of Farris Evans Insurance Agency. “Cameras are the best tool a fleet can have to protect its business, reduce claims and exonerate drivers. I like that HDVI uses the data from cameras to help fleets realize substantial discounts on their insurance, which is usually among a fleet’s top five costs.”
HDVI’s insurance product is compatible with most modern ELDs and cameras, but if a fleet’s current hardware is not compatible or they don’t have cameras, we will provide it cost-free.
For more information, contact us.