When an accident does occur no matter how minor it is  always important to advise your broker immediately. Failure to do so in thinking maybe that the other party will not take action may well result in a hefty bill some time later for such things as a replacement vehicle, solicitor costs and vehicle storage fees. All of these most likely could have been either reduced or removed had your broker been informed at the time of the accident. The end result could be a claim that is significantly higher that it would have been had the incident been reported in a timely manner. Remember your policy costs are partly based on your claims history, as such  it makes sense to take all steps to reduce your actual claims and thus keep a lid on future policy renewal costs. 

How do Reducing Insurance Costs

• New customers or renewal time  – Most brokers offer attractive introductory discounts for new customers, so it does pay to shop around at renewal time.
• Reduce your annual  mileage  – If possible agree a cap on your fleet mileage with your underwriter or broker.  Reducing time on the road will also reduce the risk and thus cover costs.
• Build a history of no claims discounts – This can play a big factor in reducing fleet cover costs so work at reducing the number of claims, which should result in significant savings on your annual or monthly insurance costs.
• Choose a flexible payment method – Most brokers are flexible on installment payment methods. These can be monthly, quarterly or semi annual and remember setting up a direct debit will make the process automatic.
• Security - Add security devices approved by the UK insurance industry.
• Increase the excess - Taking more responsibility for the costs of any future claims by increasing the policy excess amount will be rewarded by a policy discount. Before taking this route ensure that you will be able to afford to pay the excess should an accident happen.

• Expert advice  –  Take advice from the insurance specialists when unsure of what you should include and the level of cover required.
• Black Box : The idea here is to show your insurer that you pose less of a risk because you or your drivers are considered safe drivers. Telematics data is extracted from the black box that records many things take for example how quickly and how often you break, speed , extreme or jerky steering. 
• Regular Service : Some accidents are partly the result of vehicles that are not running 100%. For example a braking system that has been left unchecked. Pursuing a company wide policy of regular servicing alongside driver safety checks will help reduce accidents that are initiated by poor service management.
• Named Drivers : If possible avoid any driver fleet insurance and choose named drivers if possible.
• Discounts for truck fleet cover – Put all your vehicles under one multi fleet policy as it will reduce admin costs and also reduce your annual premiums.
• Driver Age : Drivers under 25 attract a higher premium, if possible ensure all drivers are over 25 or better still over 30.