Tips to Keep Your Direct Fleet Insurance Premiums Down

Fleet insurance is a good choice for businesses that have two or more vehicles. This specialized policy enables businesses to place all their vehicles under one policy with only one premium to pay, one policy to renew and one claims process to go through.

The reason direct fleet insurance has increased in popularity is because it can save businesses money on their motor vehicle premiums. By placing all the vehicles under one policy, the premiums are reduced. But there are ways to reduce these premiums even further and keep them down.

One of the ways to keep your direct fleet insurance costs to a minimum is to constantly review your policy. Often you will sell a vehicle and due to a busy workload, forget to remove the vehicle from the policy. Regular reviews ensures that your policy is up to date and you are not paying for vehicles you no longer own.

Reviewing a policy is also a chance to ensure you aren’t paying too much for your cover. As your policy comes to an end and it’s time to renew, you can shop around to find out if you can get a better price.

It’s essential that you ensure all the vehicles included in your direct fleet insurance have the necessary safety features to reduce theft. Security alarms, immobilizers and where you park the vehicles overnight all play a role in the overall price you will pay for insurance.

If each vehicles is fitting with an alarm system and immobilizer and is parked in secure parking overnight, you can enjoy a lower premium than a vehicle that is parked on the street at night without an alarm system.

Your drivers play an important role in the price of your direct fleet insurance. It’s a fact that younger drivers are seen as a risk to insurance companies with the majority of accidents on roads being caused by drivers younger than twenty five years old.

Also drivers with convictions on their name are likely to push your insurance premiums through the roof, so to speak. If you have any drivers that have been convicted of drink driving or have been caught for speeding where points have been deducted from their license, it’s essential you confirm with your insurance company on how this will affect your premium.

Ideally you want all your drivers to be over twenty five years old and all have clean driving licenses. Often you can find out if your drivers have a no claims bonus on their personal insurance policy, this can often be taken into consideration by your direct fleet insurance provider to confirm that your drivers are not a risk, thereby reducing your premium.

In some cases the insurance company will see drivers as a low risk if they have had driver training, such as advanced driver training which makes them safer on the roads. While this may be an expense, it can save you in the long run.

It’s essential that you constantly review your direct fleet insurance policy and compare it to other policies being offered. Ensure your policy meets your fleet requirements in terms of the level of cover and liability cover.

Consider requesting if you can pay a voluntary excess. This is something offered by some direct fleet insurance companies enabling you to reduce your premiums by increasing your excess should you ever need to claim.

Voluntary excess is a good choice for businesses that don’t claim often or haven’t needed to claim for many years, this way the premiums are kept at a low and should you need to claim in the future, you will pay a higher premium, overall this can help save your business money.