Our insurance experts at Hallsdale Insurance were asked to shortlist their top 5 tips for Fleet Managers – whether this be a full-time fleet manager or an individual such as a Finance Director or Business Owner that has been assigned the job!
Here at Hallsdale we have plenty more tips for Fleet Managers regarding their fleet insurance, but here are the top 5!
Implementing these should help reduce claims and therefore reduce future insurance premiums, in a market that is generally seeing quite substantial increases in premium pricing.
- Use In-Vehicle Cameras
Statistics show a big reduction in fault accidents for fleets that use in-vehicle cameras. The simple reason being that drivers know they are being filmed, so they will drive more carefully, and this should result in a reduction in fault accidents.
- Use Vehicle Telematics and GPS tracking
Vehicle telematics are considered less “big brother” and more commonly used in business vehicles in recent years. These track driver behaviour such as routes, speed, braking and time on road as well as GPS tracking so you know exactly where your fleet of vehicles are – including overnight parking.
- Have a “named driver” rather than “any driver policy” if possible
Any driver policies have a big appeal as it gives your business a lot of flexibility if you have a high turnaround of drivers using your business fleet. However, it is likely that it is the same people using the business fleet the vast majority of the time, a “named driver” policy can be much less expensive as the risk is less and the insurer knows the driving history (claims and convictions) or each named driver.
Even if there are the occasional amendments, these can be done by your insurance broker.
- Have a secure compound with cameras if possible
One of the biggest risks to insurers is theft of the vehicle and/or its contents. If the insurer knows there are precautions against theft, especially overnight, you will be rewarded with lower premiums.
- If you have goods in transit insurance, make sure you have adequate sum insured
If you are a courier or haulier, or transport expensive products/goods, make sure your sums insured more than adequately cover the cost of replacement in the event of an accident, fire or theft. The cost-of-living crises and general increase in materials and production could mean it is time for you to review your sums insured on goods in transit insurance cover.