All business owners who operate a fleet of lorries or other vehicles will need to take out specialist insurance. They are required by law to ensure that all their cars, trucks and lorries are legal on UK roads. The cost of that insurance can become a little too much for some companies, and so they look for ways in which it can be reduced. We’ve taken the time to list some of the best techniques you might like to consider. Regardless of how your business makes money, the same basic rules will apply. So long as you follow the steps in this post, you should see a huge reduction in your policy price.
Limit the amount of time your vehicles are on the road
Your drivers will no doubt have to travel long distances to make their deliveries. However, you can reduce the cost of insurance by making sure they take the most direct routes. All insurers will ask you for an estimation of how many miles each vehicle travels over the course of a twelve-month period. If you can limit the amount of time your lorries are on the road, most specialists will offer a reduced rate. Just make sure you always read the small print to guarantee you are getting the same level of cover.
Store the vehicles in a safe place
Insure Fleet and other top companies offer lower policy costs if your vehicles are kept in a secure compound overnight. While the number of lorry thefts in the UK is rather low, you can still make savings by ensuring your vehicles are secure. Add some extra security features to your premises, and things could get even better. Ideally, you want to store your lorries in a place that is covered by CCTV and alarm systems. If you have enough room to keep them indoors, your costs could drop even further. Indeed, that is why some companies build large garages for their fleet.
Install a black box
Just as van insurance costs more than car insurance, lorry cover will set you back a pretty penny. By installing a black box in your fleet of vehicles, some insurers will allow you a reduced rate. The black box will record information about the way in which your vehicle is being driven, and it will let the insurers know if your drivers are acting in a safe manner. Of course, that idea can backfire if you employ people who break the speed limit or spend too long behind the wheel.
There are so many different fleet insurance companies around today that it is always beneficial to shop around. Use the quotes you get from certain firms to negotiate better deals from others. At the end of the day, all the top specialists want your money, and so some of them will work hard to create a deal that suits your budget.
Now you know how to get the best deal possible on fleet insurance for your company, we hope you won’t find too much strain on your finances this year. Presuming you manage to use the ideas we’ve just listed, you could see a 20% reduction in your monthly payments. Good luck!