Wednesday, 13 November 2013

5 Ways To Cut Costs On Your Fleet Insurance

5 Ways to cut costs on your Fleet Insurance

1. Driver Training – Insurance companies can offer driver training and will take into consideration defensive driver training if undertaken.

2. Telematics System – More insurance companies are taking into consideration that you have vehicle tracking units installed within your fleet, always notify insurance companies and tell them that you have trained your drivers on what you will be monitoring to improve their driver behaviour.

3. Keep a close eye on your young drivers – Drivers under the age of 20 are two times more likely to put in a claim, therefore manage young drivers closely, their claims are normally 3 times more than other drivers therefore good training of young drivers on speed and road attention is vital.

4. Provide adequate vehicle security – Vehicle security can be improved through immobilisation systems, alerting the owners when vehicles are moved without authorisation, all these can be added through a telematics system.

5. Renew policies in good time – always allow yourself to research the market so you don’t just jump at the first quote you receive, sometimes they may sound good but look at the excess, windscreen and legal cover.

The majority of the above points can be monitored or improved through using a telematics system, whilst you may be paying around £20 a month to monitor a vehicle, the Return on Investment that you can get will out-way all the unnecessary claims that you may face each year!

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