Getting fully comprehensive insurance for your fleet can be a costly expense. Whether it is HGV insurance, courier insurance or taxi insurance, you have to keep the costs at a realistic and manageable level. Here we will look at how that can be achieved.
This is the first and most important area you should take into account. Your drivers can be the backbone of your company, but also the reason why your premiums increase.
By doing thorough checks when employing them, you can possibly stop a problem before it occurs. Do proper background checks to find out if your drivers have any convictions, both motoring and other, and find information about their past employment and claims.
You can also bring in incentives for your drivers. Reward them with a bonus or scheme that recognises safe and cautious driving.
You need to be proactive – making the initial purchase of getting telematics and dash cams fitted to your fleet can save you in the long term. There will be no grey areas in an accident now and this will wipe out any false claims made against the driver or vehicle.
It will also help the driver see where speed or aggressive manoeuvres are being made, so they can alter their driving accordingly. Using hazard perception courses and software will help improve awareness.
Although this will be the biggest outlay, it can be done gradually over time. Insurance companies are now offering lower prices for electric and hybrid vehicles and higher prices for diesel.
The newer technologies will also lower your fuel and mechanical costs, as long as they are properly maintained and checked. Proper maintenance will also reduce the chances of an accident due to mechanical fault. It is important to make sure that your fleet are fitted with immobilisers and parked in a secure compound or garage if possible.
Although these may seem like obvious routes to be taking, a number of companies are still not taking these basic steps. Even by taking on board just one of the options above, you will lower your insurance costs. Planning and trying to implement them all will save you a huge amount of money in fleet insurance, fuel and pay-outs.