Motor fleet insurance is an unavoidable cost for a company running a fleet of vehicles, but it is completely necessary to provide protection.
In 2013, researchers found that a third of all road traffic accidents were work, and this is driving up the prices of insurance.
However, action can be taken by the businesses themselves to help improve road safety, reduce the number of accidents, and lower the cost of insurance premiums. With this in mind, we have a list of 5 ways you can help to lower motor fleet insurance premiums:
- Employ drivers who have a clean driving licence and be honest with your insurance brokers.
If you hire drivers who have a high number of points on their licence or have previous driving convictions, it will no doubt affect how much you are paying for your fleet insurance. Many brokers will check to see if any drivers have previously been convicted for drink driving, been caught breaking the speed limit, or had a significantly large amount of driving claims against them.
You must make sure that all the information to your insurer is correct and honest – otherwise, your insurance may be invalid and the fleet will not be protected.
- Commit to your risk management procedures.
Using risk management can not only lower your fleet insurance premiums but also protects your employees and reduces business disruption. This includes regularly committing to review the measures in place to lower road risks.
You can work with your insurance broker to devise a great risk management system and therefore lower the price of your insurance.
- Use driver training programmes.
Your drivers who receive ongoing training should be better and safer drivers who have fewer accidents. You can offer intensive driving courses for new staff, and potentially introduce them to short weekly cyclist awareness courses – there are so many different courses available.
- Don’t waste any time when making a claim.
If an accident occurs, then you should put in your claim immediately. This is because, whilst the case is being settled, your insurer will be paying out for the cover vehicle whilst your own is out of service.
When it’s time to review and renew your policy, they could take this into account. Less money spent should result in lower premiums.
- Choose the right vehicles for your fleet.
There are many different factors to consider when choosing the right type of car/lorry/van for your motor fleet, which could all potentially provide long term savings.
Newer vehicles may have more up to date security systems and better fuel efficiency and navigational systems can help you save on breakdowns, maintenance, and fuel.
Reining in the risks of your commercial fleet can sometimes feel like a huge task. If you need support, you can trust our team of professionals at BIS to create the best risk strategy and find the perfect and affordable insurance for you. Call us on 01492 555444 to get started.
