THE RBN BLOG
Information and ideas you can use to improve employee benefits solutions, better understand risk management, and receive expert private equity advice.
Homeowners Insurance: The 80% Rule
Homeowners Insurance
| 1 min read
RBN’S WEEKLY INSIGHT
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You may be able to save significantly on insurance by switching to a vehicle allowance program in lieu of company cars. If you do make this change, it’s key to ensure that relevant employees are carrying the right personal insurance coverage and receiving safe driver training.
TIP OF THE WEEK 3/25 -
Insurance carriers price coverage based on your fleet’s risk factors including miles driven, routes, time of day vehicles operate, number of vehicles in your fleet, driver quality, and loss history. Work with your agent to ensure these factors are being reported to your carrier correctly so you aren’t inadvertently overcharged (e.g., for classifying a short-radius vehicle as long haul).
TIP OF THE WEEK 3/18 -
Companies are increasingly purchasing usage-based insurance that charges premiums based on mileage driven and driving practices, as measured by telematics systems. This approach may generate savings while rewarding you for sound fleet safety and risk management programs.
TIP OF THE WEEK 3/11 -
Acceptable Motor Vehicle Records (MVRs) should be a condition of employment for anyone who drives a vehicle on company business. Professional and personal violations can both affect your company’s insurance rates, or even your ability to secure high-quality coverage. You should always review drivers’ MVRs at time of hire and consider implementing a policy to review at least annually.
Tip of the week 3/4