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January 30, 2017

7 Ways to Reduce Fleet Operating Costs

Tips to Reducing Fleet Insurance

7 Ways to Reduce Fleet Operating Costs

The rising costs of fuel compounded by the depreciation of the British pound against the US dollar are expected to further increase fleet operating costs in the United Kingdom. It is not surprising that companies are looking for different ways to lower the costs of maintaining a fleet.

If you’re a business owner concerned about this development, or you are in charge of managing your company’s fleet, you might want to follow the following tips to reduce your fleet operating costs:

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  • 1 Fuel Cards

Fuel expense is undeniably one of, if not the largest, costs that companies have to shoulder when they maintain a fleet. You can better manage your fleet’s fuel consumption by imposing the use of fuel cards.

Fuel cards not only help fleet managers keep track of the fuel expenses of their vehicles. It can also come in handy in detecting fraud.

If your drivers use fuel cards, it would be difficult, if not impossible, for them to fill up with more fuel than they could have used.

Fleet managers will also be able to identify which drivers are filling up their vehicles with premium fuels.

  • 2 Promote good driving habits

One of the best ways to control fuel expenses is to promote good driving habits among your drivers. The Energy Savings Trust says it is possible for fleets to cut down fuel costs by 15 percent annually if drivers learn how to drive more efficiently.

From keeping tyres at the right pressure to turning off the engine when the vehicle is stationary for more than three minutes

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  • 3 Using a route planning program

Investing in a route planning solution can enable you to minimize fuel consumption and reduce wear and tear of vehicles by choosing the most optimal route for your vehicles.

  • 4 Repair first instead of replacing parts

Extra and unnecessary expenses are also incurred when car parts are replaced right away instead of being repaired first. Repairing windscreens, for instance, is up to 20 percent cheaper than replacing them.

  • 5  Wisely schedule preventive maintenance 

Many fleet managers still believe that vehicles should undergo regular preventive maintenance practices such as changing oil every 3,000 miles, or every 3 months, whichever comes first.

However, newer cars don’t need that frequent oil changes. Most car experts suggest intervals of 7,500 up to 10,000 miles before subjecting the vehicle to an oil change.

  • 6 Combine your insurance policies

Fleet Insurance premiums can also add up to fleet operating costs. You can scale down costs of premiums by speaking to your insurance company and asking if you can combine public and employee liability cover with fleet policy.

  • 7 Minimise travel whenever possible

Finally, you can cut down on fuel expenses by encouraging your employees to use video conferences and similar technologies whenever possible. This strategy can also delay the wear and tear of vehicles.

Indeed, there are plenty of things that you can do now to reduce your fleet’s operating costs.

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