Checklist to save money on fleet policy 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 risks and thus you insurance 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. Reducing claims 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 additional 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 in the event of an accident.
- 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. The black box records your driving, 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.
- Named Drivers : If possible avoid any driver fleet insurance and choose named drivers only.
- 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 if possible over 30.
