Running a haulage business? Then you already know that motor fleet insurance is one of your biggest expenses. However, there is some good news on the road ahead, as with a little forethought, you can take control of your premiums. The trick? Reducing claims and improving your fleet’s risk profile.
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Fleet insurance rates are based on a three-year claims history. Every accident, every repair bill and every payout adds up to a higher premium. If your claims report is littered with incidents like ‘hit stationary vehicle’ or ‘third party came up on blind side,’ you’re paying more than you should be. And the worst part is that many of these accidents are avoidable.
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The reality is that your drivers hold the key to lowering your costs. A safer fleet means fewer claims, which means lower premiums. And with insurance rates rising across the board, keeping claims in check is essential for keeping your business profitable.
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Here’s how to get started:
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Motivate your drivers
Happy, engaged drivers make safer drivers. A little motivation goes a long way in reducing accidents. Try incentives like ‘Driver of the Month’ awards or end-of-year accident-free bonuses. On the flip side, some companies implement penalty schemes where drivers contribute to the excess if they’re at fault. Either way, making drivers accountable helps them take safety seriously, each and every time they’re out on the road.
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Hire smart
Not all drivers are created equal. A thorough recruitment process can save you a fortune in the long run. Make sure candidates are vetted properly and, wherever possible, conduct interviews with someone who understands the role’s demands. Relying simply on word-of-mouth recommendations is a gamble you may not want to take.
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Keep skills sharp with driver training
Over time, even the best drivers can get sloppy; bad habits creep in, hazard perception fades and awareness of rule changes becomes non-existent. Regular training sessions help keep standards high and reinforce safety measures, and remember, a solid training programme doesn’t just improve driving skills - it also shows your commitment to safety, which can help with disciplinary procedures if needed.
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Plan routes wisely
Unfamiliar roads, tight schedules and last-minute route changes can lead to stress and mistakes, so smart route planning reduces risk, although don’t rely solely on GPS! Always allow time for route prep and consider factors like road conditions, traffic density and pedestrian areas. Whenever possible, have both a ‘Plan A’ and a ‘Plan B’ route on the cards.
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Have a post-accident plan
Accidents happen, but what you do after an incident can make a big difference in managing claims and preventing future issues. Have a clear process in place for reporting, recording, investigating and evaluating accidents. The right procedures help you collect crucial information that could assist your insurer in defending claims: potentially saving you thousands.
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A proactive approach to fleet management isn’t just about cutting costs, it’s about keeping your drivers safe, your vehicles on the road and your business running smoothly. Put these tips into action, and you’ll be on your way to lower premiums and a safer fleet.
Want further advice on reducing your motor fleet premiums? The team at Ascend Broking Group knows transport insurance inside-out, so get in touch with the experts today on 01245 449060, or email info@ascendbroking.co.uk.
