As your company van fleet increases, it may be time to switch from separate vehicle insurance to one that covers all your vans under one policy. Getting the right policy for your business at the right price may seem like a huge task, but with a bit of research and help from an insurance broker, there are plenty of flexible and competitively priced packages available.
Here are some of Tradex’s top tips on getting the best out of your broker when it comes to van fleet insurance.
1. Driver training can keep insurance costs down
The best way to keep your van fleet insurance costs down is to prevent the likeliness of accident. Invest in advanced driving courses for your employees, install hands-free mobile kits, enforce the legal limits on driving breaks and ensure these are followed. Aside from claims on insurance, this will limit the time your vans are off the road and repair costs.
2. Do a risk assessment with your insurance provider
Before you go to renew your insurance policy, ensure you have all the details about the drivers you are looking to include. If your company has more mature, safe drivers with clean licences, this could help to keep your premium lower.
Unfortunately, drivers under the age of 25 are generally going to push up you your premium, so try and find ways to minimise the risk by limiting their mileage or driving accompanied until they build up a safety record.
3. Only buy the cover you really need
It’s easy to think you need the maximum level of cover for your van fleet insurance, but this will really depend on the value of your vehicles. High-end or new vehicles may warrant having fully comprehensive cover, but third party only could be sufficient for those of lower value.
Ensure that the drivers on your policy still work at the company and are actively out on the road. If you have a large fleet with drivers that need to use a variety of vehicles, you may need to look at an ‘any driver’ policy for flexibility.
4. Start the renewal process early
We are all guilty of leaving our renewal to the last minute, but giving your broker time to look around for the best deal is a good way to reduce your premium. It will also give you time to talk through your claim’s performance from the previous year and outline ways to reduce those that may be recurring frequently – is it the same type of accident each time, the same driver?
5. Should you say yes to higher excess?
Increasing the amount of voluntary excess you will pay on a claim is a standard way to reduce motor trade insurance premiums. You will need to weigh this up against the number of claims that your business tends to make, but if you are fairly claim-free, this could work to get a better deal.
6. Make vehicles safe and secure
See our other blogs on van security for advice on how you can make your vehicles as safe as possible. Consider where your vehicles are parked overnight and try to make sure they are locked in a garage or some other secure location. Fleet insurers like the inclusion of vehicle trackers, which are a relatively inexpensive way to find a vehicle if stolen.
7. Use in-car technology
From dash cams to telematics, in-vehicle technology has become indispensable for fleet insurance claims after an accident. Telematics devices are a little more pricey but important especially for larger fleets. They check employees aren’t driving too fast or for too long. Some of the more sophisticated telematics even have accident sensors, making it easier to prove if the collision wasn’t your driver’s fault.
8. Pay annually rather than in instalments
Generally, it is cheaper to pay for your insurance annually in one lump sum rather than instalments. If you are able to do this, it may be a good option to keep those fleet insurance premiums a little lower.
For full advice on how to get the best deal for your fleet van insurance, contact Tradex on 0333 313 1111.