4 ways to save money on fleet insurance

Posted by Andrew Mead

When your business is reliant on company vehicles, be it company cars or commercial vans, choosing the right insurance can result in major savings. For the vast majority of organisations running three or more vehicles, fleet insurance is may be the most cost and time-effective way to get insured. Just like conventional insurance, prices can vary wildly from provider to provider, but with the potential for huge savings, finding the right one is can definitely be worth the extra effort.

To help you on your way, here are four ways to save money on your fleet insurance…

Go compare!

Just like insuring your own car, using a price comparison site is a great way to get a picture of the market as a whole before getting into the details of your chosen policy. There are several fleet insurance comparison sites online that can offer up a range of quotes from the best providers in a matter of minutes. Even if you don’t wish to buy from these sites, they offer a quick and easy way to find our which providers offer the type of policy you are looking for so you can then contact them directly. 

Get to know your drivers’ records

One of the best ways to keep your fleet insurance premiums low is to help ensure that everyone driving for you has a clean driving record. Therefore, before hiring additional drivers, it is vital that you perform adequate background checks including confirming licence details with the DVLA and contacting any previous employers to check for any incidents that might have occurred on any commercial policies.
Stay safe

Convincing your chosen insurer of your commitment to safety can go a long way to keeping your premiums low. Many insurance companies offer discounts to members of schemes such as “How’s My Driving?” which is aimed at reducing the number of accidents and incidents on our roads each year. You may also want to consider implementing a fleet tracking solution or dash-cams throughout your fleet -- both of which have been known to reduce premiums.
Don’t be afraid to haggle

The first step to receiving a discount on your insurance premium is to ask for one. Fleet insurance is a very competitive industry and providers are not afraid to fight for your business. What’s more, there are several discounts that you may be eligible for depending on the length of time you have been in business, the number of vehicles you are insuring and what fleet management software you have in place -- ask up front to find out how many of these discounts you qualify for. 

Ready to take a step towards lower insurance premiums? See how much you could save with a Fleetmatics vehicle tracking solution.