Fleet Insurance: 10 Easy Ways to Save

No one wants to pay more for their fleet insurance than they absolutely have to. Be it a large fleet, mini fleet or van fleet, being able to keep the cost of fleet insurance down can make a real difference to a fleet’s affordability. Having spent many years as an independent insurance broker specialising in fleet policies, here at Getaquoteinsurance we’ve learnt a few things about how to save on your fleet insurance quotes and so here are our 10 easy ways to save on your policy.

Put Your Fleet Drivers Through Driver Training Courses

The one thing that is almost guaranteed to put your fleet insurance premiums up is by having to make a claim. Fleet driver training, as offered by companies such as Business Driver or Driving Innovation, are affordable and can not only help keep the costs of your fleet insurance down, but they can help you avoid associated costs of an accident such as repairs, time making a claim and employee absence. A recent Department of Transport report on driver training suggested if drivers had better hazard perception training it could lead to an 11% reduction in collisions.

Complete a Risk Assessment With Your Provider

In the run-up to renewal talk to your insurance broker and go through the profiles of the drivers you are looking to insure and see if there are any efficiencies you can make. For example; if you have a predominantly safe, older set of insured drivers on your fleet policy but one young, accident-prone one then consider removing them from the cover. Also, try and drill into your fleet drivers the importance of safety and of avoiding claims. You can do this by using the carrot – a small bonus a claim-free year – or by using the stick – a loss of fleet vehicle usage.

Consider Young Driver Risks

The simple fact is the younger a driver is, the riskier a driver is and this has the same bearing on fleet insurance as it does any other form of motor insurance. Often having young fleet drivers on your policy is unavoidable so try and look for ways to reduce their likelihood of having an accident by, for example, limiting their mileage, not allowing them to drive at night or only driving while accompanied.

Renew Your Fleet Policy Early

The sooner you start to think about your renewal quote the more chance your broker has to find you a better deal. Last minute renewals (of which we’re all guilty!) lessen your choice and can end up costing you more, so as soon as your renewal arrives get in touch with your broker.

Say Yes to a Higher Excess

Raising your excess on your fleet policy can bring your premiums down quite a bit. Obviously if you have a poor track record when it comes to making claims, then this may not be the way forward for you. If, however, you are confident that you can keep claim-free then this could be a really good way to save.

Secure Your Vehicles

While accidents are a major source of claims, theft, and to a lesser extent, criminal damage, still play a big part in driving up fleet insurance costs. So, if at all possible, have your vehicles stored securely at all times and maybe invest in vehicle tracking technology. Vehicle trackers are ideal for those running mini-fleets and can cost as little as £40.

Use In-Car Technology

In-car technology has become far more widespread and far cheaper in recent years and it can, especially after an accident, be a real help when dealing with fleet insurance claims. Larger fleet owners can look to systems such as telematics, but even the smallest fleet owner can afford to install a dash cam. Dash cams can be found online for as little as £30 and can offer invaluable evidence of fault when settling a claim.

Always Make Claims Promptly and Honestly

Once liability has been established – and as in all motor claims always abide by the golden rule and don’t admit liability at the roadside – get your claim in as quickly as you can. Delays in making a claim will just extend the process and if there are courtesy vehicles involved, as there often are in fleet insurance covers, it will just add to the costs. And always give an honest assessment of the situation. A lack of clarity in a claim will just cause delays.

Combine Related Insurances With Your Fleet Insurance

If you need fleet insurance then you will also need other common business insurance policies such as employee liability insurance, business legal insurance and public liability insurance. These policies can often be purchased together as part of an insurance bundle, one that can cut the cost of fleet insurance cover.

Always Use an Insurance Broker

Obviously as an insurance broker we are bound to say that, but by being able to scour the market for the best deals, an independent broker such as Getaquoteinsurance can not only save you money but also give you great impartial advice.

Like To Know More?

If you would like to know more about saving money on your cover or would like some help getting the insurance that’s right for you, then please contact us by calling us free on 0800 977 6037, email us by clicking here or get a no-obligation fleet insurance quote here.