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    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. 

    Compare the best business insurance deals Today.

    You could save your business £££

    Which sector best describes your business?
     
     
    Complete our short form. It only takes a minute
    Our Partners
      Our Products
      • Business Accountancy
      • Business Epos Systems
      • Business Telephone Systems
      • Commercial Waste Collection
      • Digital Marketing
      • Fleet Tracking
      • Invoice Finance
      • Merchant Accounts
      • Website Design

      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.

      FAQs

      Your Questions Answered

      There are several ways to reduce your insurance premiums. Much like if you were insuring a personal vehicle, you do things like park away from the roadside or use newer vehicles. You can also use tracking software to further reduce the chances of accidents occurring. 

      This can be difficult to estimate because there are so many different factors that influence the cost of your business insurance. The best way to quickly find out how much it costs is by using our free service to source multiple business insurance quotes tailored specifically to your needs. You can do this by clicking the button on the left. 

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      A Brief Overview of Business Insurance

      What Is Business Insurance?Also known as "commercial insurance," this is an umbrella term for different types of coverage available that protect your business against different forms of financial loss. This could be a defence against theft, damage, legal action, or any unforeseen interruption of business operations.  Read on to find out everything you need to know about UK business insurance, including what types are available and how to find the best deal for you.  Business Insurance TypesBusiness insurance comes in all different shapes and sizes, each with its own unique protection. Below is a quick list of some of the most popular types of business insurance available. Employer's Liability Insurance Employer's liability insurance covers you against any claims of work-related sickness or injury made by any current or former employers.  If you employ at least one staff member, even on a casual basis, then this type of insurance is a legal requirement for your business.  Public Liability Insurance This protects your business if a member of the public is injured or property is damaged as a result of your business. Professional Indemnity InsuranceIf a customer complains that your company gave them subpar service, which led to an unanticipated outcome or, worse, cost them money, this will cover any additional or legal expenses you might incur.  In certain industries such as solicitors, accountants and healthcare professionals, this is mandatory and is enforced by industry regulatory bodies.  Product Liability InsuranceIf someone is injured as a result of a faulty product, then product liability insurance will cover any financial penalties or court fees you may face as a result of this.  Business Contents Insurance This covers any loss, theft, or damage to your equipment.  Commercial Building InsuranceIf any of your commercial properties are damaged in events such as floods, fires, or vandalism, this will cover repair costs.  Business Interruption Insurance If you find yourself unexpectedly having to put a halt on business activities, then this will cover you while you get back on your feet.  Tool Insurance An essential for all tradespeople out there, similar to business contents insurance but specifically for tools.  For a more in-depth look, be sure to check out our other article about the different types of business insurance.