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Cost Savings
Analysis
Is My Driving Safe,
Inc. is cost effective. Some insurance companies will actually cover the cost. When a Driver Improvement Program is implemented, companies will see a savings in both hard and soft dollars, as well as a decrease in accidents and claims against their drivers.
facts:
 | An Average of 7 Accidents for every 1 Million
Miles Driven |
| $9,000 = Average Total Cost Incurred from an Accident |
| Driver Improvement Programs Can Save a Company 10-50% in it's Hard Costs
|
* Source: American National Standards Institute
Costs to Companies
National Average Cost per Accident = $9,000
Hard Dollar Costs
| Workers' Comp Claims/Costs
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| Damage to Company Vehicles
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| Temp Employee Cost
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| Cargo Damage
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| Insurance Deductibles
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| High Insurance Cost*
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| Admin Costs
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| Lost Work Days
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| Delay in Deliveries
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| Rush Orders
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| Legal Fees
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| Punitive Damages
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| Other Liabilities
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Soft Dollar Costs
| Angry Customers
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| Negative Public Image
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| DOT Audits, Fines, Etc
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| Lost Business Renewals
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| Negative Word of Mouth
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* It is possible to Lower your insurance cost if you implement a Driver Improvement Program. Talk to your insurance provider to see if they provide discounts for this service.
Sample Cost Analysis
There are many ways to save costs with a Driver Improvement Program. The
following is an example using a fleet of 100 vehicles that covers a total of 1 Million Miles in a year.
|
Company Accident Cost Estimate |
|
Accident Cost |
# of Accidents |
Total Accident Cost |
| $9,000 |
7 |
$63,000 |
| |
|
Company Cost Estimate with Driver Improvement
Program 10% and 50% Savings |
| Total Accident Cost |
10% Savings |
50% Savings |
| $63,000 |
$6,300 |
$31,500 |
| |
|
Cost Of Service |
| $25 Fee plus $5 Decal
(3"x9" small decal) |
# of vehicles |
|
| $30 |
100 |
|
| |
| Annual Cost of Service 1st year |
$3,000 |
|
| Annual Cost of Service 2nd year |
$2,500 |
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Total Cost Savings |
| Service Cost |
10% Savings |
50% Savings |
| $2,500 |
$6,300 |
$31,500 |
Find out how much money your company can save
by joining Is My Driving Safe.com!
Contact us with comments or questions at:
info@ismydrivingsafe.com or Is My
Driving Safe @ (813) 269-IMDS
(4637)
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