CHICAGO, March 16, 2022 /PRNewswire-PRWeb/ -- Small and midsize commercial trucking companies in Arkansas and Missouri now have access to High Definition Vehicle Insurance (HDVI), a leader in commercial auto insurance product innovation and technology. HDVI provides 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, 87% 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 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, HDVI will provide it cost-free.
HDVI is currently available in 12 states, including Alabama, Arkansas, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Tennessee, Texas and Wisconsin, and is focused on small and mid-sized trucking fleets. The company plans to be in 25 states by the end of this year.
For more information, visit http://www.hdvi.com.
HDVI provides fleets with the data, tools and coverage needed to reduce insurance costs, increase safety, mitigate risk, and improve efficiency. The company provides commercial fleets with an innovative, flexible insurance product alongside powerful, easy-to-use tools to help them improve safety, compliance, and profitability. HDVI is headquartered in Chicago, Illinois, with additional offices in Greenville, South Carolina, Austin, Texas, San Francisco, California and Portland, Oregon. High Definition Vehicle Insurance, Inc. is a licensed property casualty insurance agent with products underwritten by various insurance companies.
Emily Moran, High Definition Vehicle Insurance Group (HDVI), +1 248-855-4300 Ext: 5, [email protected]
SOURCE High Definition Vehicle Insurance Group (HDVI)