Fleet managers and drivers should report collisions and accidents on the road as swiftly as possible to keep costs down and deliver a better outcome, according to specialist insurer Direct Commercial.
It said the earlier the incident is reported – preferably from the roadside – the greater the chance of reducing “persistent inflationary challenges, surging costs, and delays in repair on commercial motor operators.”
The call was promoted by its latest business barometer report which found 78% of commercial motor brokers had seen an increase in complex losses and 91% said claims costs had risen in Q3.
Direct Commercial said operators should receive guidance about mitigating costs and getting a good outcome from their insurance broker.
It offers policyholders a ‘Don’t delay, report today!’ guidance paper, which shows how swift reporting of an incident at the roadside can result in savings of up to 75% on credit hire claim costs through third party intervention.
Carl Cripps, claims director at Direct Commercial, said: “The results from the Direct Commercial barometer highlight a new, pressing need to minimise the escalating claims costs many are witnessing.
“One of the most effective ways that commercial motor managers and drivers can achieve this is through swift reporting of incidents from the roadside.
“We encourage all operators to contact their insurance brokers to access expert guidance to mitigate costs.”