As with most types of insurance, the cost of your monthly premiums for fleet insurance is within your control. Making a few progressive changes to several areas will impact your monthly premiums, which is excellent news for small businesses that have been considering purchasing additional vehicles to encourage the functions of their business. While there are various reasons you should buy a van for your business as they are efficient vehicles, here are a few top tips for lowering the costs of your fleet insurance.
Fleet Claims Performance
You should ask your current fleet insurer for your authenticated claims experience, which is basically a standard insurance industry form that contains all the information regarding your fleet’s performance. This form will detail all your claims, premiums paid, premiums outstanding, and insurance costs that have already been paid. This will not just help you gain insight into your fleet insurance experience, but it may also ruffle your insurer into believing you are considering taking your business elsewhere. This would essentially result in your insurer, offering you a lower premium. However, it would still be a fantastic idea to consider comparing quotes with other fleet insurance brokers to be sure you really are paying the lowest premium.
Determine Whether Or Not You Have The Right Cover
An all too common mistake far too many people make with insurance is opting for the very first type of cover that comes their way. As life insurance is available in various different policy types, fleet insurance is by no means any exception. You may be paying too much in premiums if you have not taken out the right cover. Consider each aspect that you are currently covered for and determine which aspects may be unnecessarily costing you extra each month. You can evaluate how essential aspects are by deciding how often you have actually needed them. If you have windscreen cover, yet have not claimed for this in the past, perhaps it is an unnecessary extra cost.
Even though you cannot hire drivers based on genders as this would be considered discrimination, you can carefully select your drivers according to a suitable driver profile. This means that you should establish whether or not your drivers have any convictions that may result in reckless driving. If your drivers are all over 35 years of age, you may be able to get a better insurance premium as your vehicles would be considered less at risk. In addition to this, maintaining high standards for drivers is likely to reduce your amount of claims per year. The less you claim, the less your premiums would be.
Type Of Vehicles
It would be a great idea to reduce the number of luxury vehicles you have insured with your businesses fleet insurance as this would increase your premiums significantly. This means that to reduce your monthly costs, you should carefully consider each vehicle that you are listing and what their values are as cost-efficient vehicles would lower your premiums.
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