ELD Devices | Can They Save You Money on Your Truck Insurance?

In a technology driven world, tech is all around us, lets face it. With the advancement of technology and how we can use it to benefit us is creeping into many industries and has changed a lot of them. The trucking industry is alive and well with truckers delivering Covid-19 vaccinations and so much more to the American people. Truckers have began to wonder, can an ELD device save me money on my truck insurance?

According to the FMCSA, ELD Devices are used to help create a safer work environment for drivers, and make it easier and faster to accurately track, manage, and share records of duty status (RODS) data.

How does an ELD Device work? An ELD synchronizes with a vehicle engine to automatically record driving time, for easier, more accurate hours of service (HOS) recording.

A recent survey reported by einnews.com reports that only 30% of truckers were happy with their ELD, which showed that 70% felt they had purchased the wrong product and needed more help to choose the right product.

With 70% feeling that they purchased the wrong product obviously shows there is demand for information for these devices. Which leads many truckers also to ask ‘Can an ELD Device save me money on my truck insurance?’

Some insurance carriers provide ELD Discounts that can range from 3% to as much as 18%! That is a big chunk of change you can save on your insurance. All you have to do to calculate your savings is take your yearly annual premium and multiply by these percentages to see how big you can save.

Of course, rates can differ on a variety of reasons, many being how hard you break, stop and more.

Like the survey stated, there is a lot of unknown speculation with ELD devices in the trucking industry but having a trucking agent that has your back can save you a lot of time, and worry.

WHY RUSSELL AGENCY?

Russell Agency has been an industry leading commercial auto insurance agency with over 30 years of experience providing coverage across the southeast. We offer customized insurance solutions, not just a one size fits all type of approach. Contact us to see how we can help you.

If it can be insured, we can insure it.

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