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Fleet Insurance: Tips To Lower The Cost Of Running A Fleet

Maintaining a fleet of cars is no doubt not a cheap proposition. However, there are several measures that you can adopt to lower your total cost, including the cost of fleet insurance premiums, and prevent an upward spiral. These include:

Fuel Efficient Driving

If you think that the cost of fuel is not within your control, you are not entirely wrong. Sure you do not have anything to do with the price that diesel or gasoline is currently sold for. However, you have a say on how much fuel you buy. You can encourage your fleet drivers to drive in a more fuel-efficient way. Though your daily savings may seem insignificant, you will be surprised by how much money you will have saved by yearend. Likewise, you can instruct your drivers to find places to refuel where the cost of fuel is comparatively lower because of the location and local competition. This will require advanced planning, but will definitely bring some savings you will otherwise spend if you refuel at a more expensive area.

Fleet Insurance Cover

To lower the insurance cost for your fleet, you need to make sure that your incident rate is down to a bare minimum. It is a fact that the higher your incident rate goes, the more expensive your insurance premiums becomes. In order to keep your insurance expenses low, therefore, you must make sure that your drivers perform at optimum levels. This can be achieved by allowing them to take short breaks during long drives, and limiting their driving hours to something that is more manageable. Another important thing that insurers consider is regular vehicle inspection, so make sure that it is done. Also, training your drivers for all possible driving conditions can help.

Optimizing Your Fleet Size

You can also lower your fleet insurance overhead by cutting down the size of your fleet. Of course, this is not advisable if your operations would be adversely affected. Thus, you must first determine the number of vehicles you need to maintain in your fleet, and decide if you need to reduce, and by how many. You have to consider that reducing your vehicles may result to additional workload for the remaining units, so you need to weigh the pros and cons of each of your options before coming up with a decision. The idea is to lower your cost without compromising smooth operations.

Setting Up a Tracking System

You can track and monitor the performance of each vehicle in your fleet by setting up a tracking system. Use the system to record data including driving behaviour, fuel consumption, and driving speed. Knowing that they are being monitored, your drivers will drive more cautiously and as a result, you will be able to lower your overall cost from wear and tear.

Conclusion These are only some of the many ways that can help you lower the cost of maintaining your fleet. Get in touch with your fleet insurance service provider form more information and saving tips.

Choosing Insurance For Buying And Selling Cars

There is much wisdom for owners of businesses that involve automobiles to consider getting insurance for buying and selling cars. Any accident that involves automobiles and the people driving them can be quite costly. Needless to say, such an expense could affect the profitability of the business. Knowing how to choose the best kind of coverage for the business would be a wise action towards protecting the owners from financial loss.

Here are some of the steps that you should take to come up with the right decision when it comes to traders insurance:

1. Know what your options are there are different types of coverages that owners of motor trade businesses can get. The very basic cover is for Third Party Liability. This is actually mandated by UK law for traders who service vehicles, buy and sell automobiles, drive or park their own or their customers vehicles either at their business premises or at their homes. Additionally, you can get: third party fire and theft cover, comprehensive cover, motor trade liability insurance cover, and combined motor trade cover. Understand that the more coverage you get, the more expensive your premiums will be.

2. Find out which insurance providers offer the best coverages there are many insurance carriers in the UK and other countries that offer insurance for buying and selling cars. Get a list of these companies and find out which ones are known to give the best and most reasonably priced coverages. If you are part of an industry organization, you can ask your colleagues and associates which insurance companies they do business with.

3. Do the math examine your risks and appropriate the corresponding budget to cover the risk. As a business owner, you should know your business inside out. You should have a good grasp of the risks that your property and personnel are exposed to. The risks that present the most possible financial loss should be your top priority in terms of coverage. Getting coverage for risks that you are not bound to encounter will simply be a waste of business funds.

4. Contact the insurers to discuss the details and examine the fine print while the general provisions of various insurance carriers are basically the same, there could be some nuances in the coverage details. Clarify any provision that might not be so clear to you. Make sure that you are indeed getting the kind of coverage that you have in mind. Do not sign any documents if you are unsure of what you are getting into.

When you are in the business of buying and selling cars, you are exposed to a number of risks that could result in financial loss from unexpected expenses when accidents happen in the course of your business operations. It makes sense for you to protect yourself from these potential losses by getting a motor trade insurance for buying and selling cars. Be wise about your choice to ensure that your allocated budget is spent on the insurance product that will give you the kind of protection that matches your needs.