Distracted Driving Leads to Higher Insurance Rates #insurance #commercial #businessowner #driver

#TipTuesday Commercial auto rates continue to rise due to a number of factors, including distracted driving.

Annually, employers face a $60 billion financial burden due to motor vehicle crashes, covering medical care, legal fees, property damage, and lost productivity.

These incidents not only increase the costs of benefits like workers’ compensation, Social Security, and private health and disability insurance but also amplify the administrative overhead for managing these programs.

On average, a single crash can cost an employer $16,500, while an on-the-job crash resulting in an injury can increase the expense to $74,000. In instances involving a fatality, costs can reach at minimum $500,000. Employers also financially feel the effects of off-the-job crashes.

The truth is, the majority of these crashes are preventable.

More and more employers are implementing driver safety programs, recognizing that addressing this significant issue is vital for the well-being of their personnel and financial stability of the company.

Ready to lower your total cost of risk? Leave us a comment or click the link below to set up a consultation with Aaron Levine today!

Follow LG Insurance:
.
.
.
#LGInsurance #lg #insurance #insurancebrokerage #insuranceagent #shortsvideo #shortsfeed #financialtips #insurancetips #commercial #financialservices #financialeducation #newjersey #property #themoreyouknow #whoyouworkwithmatters #fullyinsured #riskmanagement #risk #hvac #contractor #contractors #construction #constructionlife #safedriving #whoyouworkwithmatters #insuranceagent

Source: Occupational Safety and Health Administration