How to Reduce Your Commercial Fleet Insurance

Commercial fleet insurance is crucial to safeguard your company's assets

Insuring Your Business Fleet

If your business uses vehicles to provide goods and services, you already know that commercial fleet insurance is crucial to safeguard your company's assets. However, managing these costs can be daunting, especially for small businesses still figuring out the ins and outs of fleet insurance.   

Fortunately, implementing strategic measures can help you significantly reduce your fleet insurance expenses. Here are five ways how. 

Embrace Vehicle Tracking Systems

A fleet tracking system uses GPS technology to track the location and movement of your vehicles. They can be used by businesses of all sizes to improve fleet efficiency, productivity, and safety.

Key benefits of using a fleet tracking system include reduced fuel costs, improved productivity and, importantly, reduced insurance premiums. Using a fleet tracking system means there's less chance of theft and damage, which affects the cost of your insurance.  

When choosing a fleet tracking provider, it is important to consider the specific needs of your business. What features are most important to you? What is your budget? Once you have considered these factors, you can compare the different providers available.

Implement Safe Driving Policies

Establishing safe driving policies sets a clear standard for your drivers. These policies can include regular vehicle inspections and strict adherence to speed limits. A tracking system can ensure you can maintain a close eye on how your vehicles are driven, so you can be sure that any training you put your drivers through is followed. 

By promoting responsible driving practices, you can minimise the risk of accidents and protect your fleet from potential damage or harm, which means insurers can be more assured of a limited chance of accidents occurring. 

Use Newer Vehicles

Each new model of a vehicle comes with improved features designed to reduce the risk of accidents occurring. Many have parking sensors, external cameras, collision warnings and other devices that reduce the risk of crashes and accidents. As well as this, they have modern safety features that reduce the risk of serious injury if a collision does occur. All of this means that newer vehicles are generally less prone to accidents, so they often come with cheaper insurance premiums.

Another advantage of using newer vehicles is the reduced risk of theft, thanks to modern technologies that make newer vehicles tricker to break into and even harder to steal. This also works to reduce the insurance premium you pay. 

Keep Your Vehicles in a Secure Place

Keeping your vehicles in a place where they are away from immediate risks of damage and theft can be a good way of keeping your insurance premiums as low as possible. Vehicles parked on the roadside are more likely to be damaged than those that aren't. 

Likewise, vehicles that are kept behind a locked garage door are less likely to be stolen. These reduced risks can often mean lower insurance premiums. 

Shop Around Insurance Providers  

One of the easiest ways to make sure you're getting the best insurance deal is to compare quotes from different providers. As you've read, there are several factors that insurance companies will take into account when deciding the level of risk to your vehicles; different providers will make different conclusions about the level of risk, so the quotes you get will likely differ slightly from one another. 

Comparing quotes side by side is a helpful way of choosing the best possible insurance provider for you, and it's something you can do through us. 

Compare Insurance Quotes Today 

Take the first step towards comprehensive protection today by getting your personalised business insurance quote today and ensure that you're prepared for whatever tomorrow brings. 

Your business needs to be in a position where it is financially protected and not overpaying for the privilege. Start comparing insurance quotes today by clicking the start free quote button now.