How fleet insurance works
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This document provides information on fleet insurance and how to minimize risks and costs. It discusses considering fleet size and vehicle usage when selecting a policy. It also recommends opting for "any vehicle" and "any driver" coverage to provide maximum flexibility. The document advises investing in public liability insurance and breakdown coverage, notifying brokers of policy changes, managing third party claims to reduce costs, developing a safety culture, and using telematics to monitor driving habits and improve risk management.
How fleet insurance works
- 1. Your guide to how Fleet Insurance works FLEET INSURANCE SPECIALISTS
- 2. FLEET INSURANCE SPECIALISTS To gain the best fleet insurance for your needs you need to take into account: • Fleet size • Frequency of use of your vehicles In order to get the correct fleet insurance policy you need to consider the usage of your vehicles. • Taxi fleet - you will need either public or private hire insurance • If your business carries goods then you will either need ‘carriage of own goods’ to cover tradesman’s tools or company products being transported • ‘Haulage insurance’ for long distance hire and reward services; • ‘Courier van insurance’ for local multi-drops of hire and reward services • Standard ‘Business fleet insurance’ will cover general business usage o account: Minimising risk and costs of fleet insurance
- 3. FLEET INSURANCE SPECIALISTS Make sure your fleet insurance policy covers ‘any vehicle’ When you are looking for your fleet insurance it can be best to cover ‘any vehicle’ which will offer you the maximum protection. This is particularly important for larger fleets where vehicles will come and go throughout the life of the policy. Should you forget or accidently miss updating your policy schedule information and a vehicle is involved in an accident but was not listed, your claim can be invalidated without this feature.
- 4. FLEET INSURANCE SPECIALISTS Consider an ‘any driver’ policy An ‘any driver’ fleet insurance policy, opposed to a named policy, will allow each of your vehicles to be driven by any of your drivers. This will provide you with complete flexibility in managing your fleet. Many fleet insurance providers are only willing to insure drivers over the age of 25 with any driver policies, however a true any driver policy, which you can find with a specialist insurance broker, will insure anyone.
- 5. FLEET INSURANCE SPECIALISTS Invest in public liability and breakdown assistance When your vehicles are critical to the running of your business survival then breakdown cover may be an essential requirement to add to your fleet insurance. Public liability insurance however is more critical. This protects you and your business against any claims for injury or accidental damage caused as a result of you or your driver’s negligence. Any business should consider this additional feature as a public liability claim could potentially put you out of business if you were left to settle a compensation claim.
- 6. FLEET INSURANCE SPECIALISTS Keep your fleet insurance broker up to date Fleet insurance is perfect for a growing business where alterations can easily be made throughout the lifetime of the policy, but it is important to relay these changes to your provider to ensure your policy is up to date with new vehicles or drivers. can easily elay new
- 7. FLEET INSURANCE SPECIALISTS Manage your third party insurance costs to reduce fleet insurance premiums Many fleet operators will have processes in place to manage their own drivers when they are involved in accidents, providing replacement vehicles and managing repairs, however less time is taken to consider managing third parties and third party claims tend to skyrocket as a result. When your driver is at fault it is important to seek to manage both the repair time on the third party vehicle and provision of courtesy car whilst this is in process. Too often with fleet vehicle insurance this process is not managed and if fleet operators want to keep down premiums, they need to be confident that their insurer has a system in place to manage any third-party claims itself.
- 8. FLEET INSURANCE SPECIALISTS Developing a safety culture within the organisation can help to reduce your fleet insurance premiums. By gradually encouraging positive behavioural changes to your fleet’s driving habits, you can lower potential risks and experience fewer future collisions. This can be maintained via variety of methods such as driver training and promoting awareness of the effects of claims via: Develop a safety culture within your fleet • Regular communications • Safety discussions • Campaigns • Driver feedback sessions There are many ‘self-inflicted’ fleet car insurance claims that can often be attributed to impatience, and a little forethought can go a long way.
- 9. FLEET INSURANCE SPECIALISTS As part of implementing a safety culture it is also important to ensure that operating practices and procedures allow for employees to drive safely to reduce fleet insurance premiums. Focus on reducing accident frequency • Vehicles need to be properly maintained and kept in a safe and roadworthy condition • Keep your fleet up to date to reduce wear and tear risks • Fitting CCTV cameras can capture footage to help inaccurate claims
- 10. FLEET INSURANCE SPECIALISTS The use of telematics can monitor and look to improve • harsh braking • acceleration • cornering • lane changing • speed versus speed limits Telematics can play a huge part in an overall risk management strategy and reducing overall fleet insurance costs. But only those who have the time to work closely with the data generated by telematics can benefit from such technology. Telematics for Risk Management
- 11. FLEET INSURANCE SPECIALISTS • Fleets of any vehicle covered • Options for mixed fleets under 1 policy • We can help any size of business • Incredible range of policy options • Any driver policies available • Competitive pricing & low excess • Fleet management advice • Fast & efficient documentation issuing • Flexible payment terms • Finance available subject to status The benefits of fleet insurance through the trusted UK experts, Bluedrop Services
- 12. Contact us today Give us a call and tell us your requirements. We’ll demonstrate why the policies and service we offer, not only enhances the support you offer to the people who drive your vehicles, but also the people who drive your business. Call us on 01489 780 491 Visit www.bluedropservices.co.uk Email info@bluedropservices.co.uk FREE Fleet Insurance Review FREE Fleet Insurance Review Call now for a quotation