Now that you have signed up for fleet insurance, you are prepared to cut costs whenever you can. That’s what the insurance companies are doing too. Therefore, if you work towards reducing your premiums, it’s a win-win situation for you and the insurer. Here are a few ways to save money with fleet insurance.
Start Identifying Risks
Request an analysis of your claims history from your current insurer. You should be able to identify the patterns on your claims history and choose the specific areas that need improvement. It’s a good way to save money on premiums.
Train The Drivers
Don’t assume that all your fleet drivers have the best training. Depending on the insurer you choose, you might get discounts for training your drivers. Remember, training your drivers is a long term investment that will reduce your claims and your premiums in the long run.
Choose New Drivers Selectively
Industry statistics reveal that young drivers, especially those between 17 and 20 years of age, are likely to make an insurance claim than the older ones. Note that, these claims are also quite expensive. Premiums are lower for drivers who are 25 years and above with at least 2 years of experience. You need to be very selective when choosing new drivers. It’s prudent to do a background check and avoid hiring people with major red flags.
Safety Should Be A Top Priority
If any of the vehicles in your fleet is involved in an accident, you will take a huge punch. Even worse, if one of your drivers is fatally injured, there’s a lot of concern. You need to practice safety from all angles if you want to keep your insurance premiums very low. There are many ways to guarantee safety with your vehicles. For instance, you can install anti-lock brakes, airbags, padded dashboards and make sure the windshields are laminated. You should also plan for regular safety meetings to make sure your employees know that you are serious about safety.
Install Cameras In All The Vehicles
If there is an accident, any footage can be used for any claims. Let’s say people make fraudulent claims against your company, the footage from these cameras would prove very useful. Camera systems can also be used as alert systems especially when drivers are reversing the vehicles.
Pay Attention To All The Details
When you are signing up for a new insurance policy, make sure you read everything including the fine print. The same goes if you are renewing your insurance policy. You might not have an idea when the insurer has slipped in something new without your knowledge. You can avoid a lot of fees by reading each line and removing any unnecessary add-ones. Keep track of your insurance claim so you can remove any features that you won’t use.
Finally, you need to choose the best insurer if you want to save money. Have a look at fleet insurance from cheapfleet.co.uk, don’t forget to compare the rates and check out different policies or hire an insurance broker if necessary to make sure you get the best.