Businesses faced a £25 million bill for road accidents in 2014, according to an analysis of Lex Autolease's accident management fleet of 173,600 vehicles.
The new figures have revealed that the bill for excess insurance payments due to accidents involving company drivers was only £1 million less than in 2013, despite an overall five per cent fall in the number of accidents involving company cars.
Car dealerships and other businesses with large fleets of vehicles often require company drivers. As part of this process, motor traders need to secure the correct road risks insurance to cover the business and individuals should disaster strike.
Although road accidents bills increased, the figures did reveal an improvement in company car driver behaviour through a reduced number (34 per cent) of accidents in which fleet drivers were to blame during 2014. This is a 15 per cent drop compared to 2013, when company drivers were at fault in 49 per cent of overall fleet accidents.
However, figures also revealed that more than 7,000 accidents involved fleet drivers hitting immobile objects, at a cost to businesses of £5.4 million. Richard Harper, head of accident services at Lex Autolease, pointed out that additional costs including repairs, replacement vehicles and personal injury liabilities could make this total significantly higher.
"It is crucial that companies put in place procedures to understand why these sorts of accidents occur and how they can take steps to avoid them," he added.