How does fleet car insurance work

Almost all opportunities to lower your rates involve safety. Proving your drivers have safe records can help your fleet achieve a lower insurance rate. A driver management system ensures your drivers are practicing safe driving skills on the road.

Consider regular training sessions for all drivers to emphasize the importance of road safety. Auditing driver behavior through telematics data is a great way to confirm safe behavior. Having a telematics device alone can lower your premium, but using its data to prove your drivers are safe can make a huge difference in your fleet insurance rate. Telematics devices track all trips a vehicle takes and can monitor behaviors, such as speeding, hard braking and rapid acceleration. Proving your drivers are avoiding these bad habits can positively impact your insurance premium, as well as help avoid accidents and vehicle downtime.

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If your fleet is small i. Like most insurance policies, there are ways you can manage the risk of your fleet to drive insurance premiums down. Here are seven methods to help you reduce your fleet insurance price.

Telematics or black box devices are a great way to reduce your premiums. By fitting each vehicle with one of these devices, you are offering insurers complete transparency.

However, they could also increase your premiums if your drivers are found to be driving recklessly. This demonstrates to insurers that your staff are actively taking steps to become safer drivers and this may help lower your premiums in the future. The age of your drivers can be incredibly influential when it comes to determining your fleet insurance cost. As such, if you have drivers below the age of 25 in your fleet, they could be raising the costs of your insurance. To combat this, some employers restrict the minimum age of drivers to 25 or even 30 to help reduce their premiums.

Limiting how often you claim will also lead to major savings. Even if your fleet is involved in numerous accidents each year, by only claiming when you need to you lower your perceived risk. Even though claims may only be small, frequent small claims suggest an increased chance of larger claims in the future. If you make frequent small claims you risk the likelihood of not seeing any discounts.

Similar to restricting driver age, having a thought out risk assessment process can also help. As part of your procedure, it helps to be using modern risk management technologies in your fleet such as automatic emergency braking, lane assist and traffic sign recognition.

As all of this helps to reduce the likelihood of your fleet being involved in an accident. Where you store your vehicles while not in use also plays an important role when it comes to reducing costs.

Just as you would park your car on your drive or in your garage, where possible you should take all steps necessary to ensure your fleet is secure. If possible, aim to keep your vehicles in a secure and locked compound overnight with CCTV. Not only will this reduce the likelihood that your vehicles will be stolen, you are also proving to insurers that your vehicles are secure which will lower premiums. When it comes to building your quote, you will be asked how much of a voluntary excess you would be willing to pay when making a claim.

This can be an easy way to lower your costs. Some employers go as far to levy this excess onto their drivers when a claim is made, to encourage safe and sensible driving. Now that you know everything you need to know about fleet insurance, why not modernise your fleet to help lower your insurance premiums? Fleet auto insurance covers vehicles, drivers, and those that they affect in the course of a crash or other accident.

A commercial auto policy may also cover construction vehicles. Company materials such as tools, products, and other items that are in the vehicle during the accident will not be covered by fleet auto insurance.

While your personal comprehensive auto insurance policy may cover personal items of value, fleet auto insurance generally does not. If your company vehicles are loaded with expensive equipment or other valuable items during the business day, you can purchase auto liability insurance coverage that will provide adequate coverage in the event of damage, theft, or other loss.

The best way to save when you buy fleet insurance is to hire drivers that have a safe driving record. Find out what affordable fleet insurance rates are available in your area by entering your ZIP code into our free comparison tool. When multiplied across your entire fleet of company vehicles, this amount can be significant. Published in a report, the BLS found that professional drivers had the most fatalities in any occupation group with in Call your fleet insurance company and ask if they offer any discounts for bundling multiple policies together.

Check and see if your fleet auto insurance provider offers discounts for having GPS devices installed in your vehicles. Not only is this a relatively inexpensive way to earn a discount, but it can also help you keep tabs on your company vehicles and will ensure that any stolen vehicles are recovered quickly. There are many inexpensive fleet GPS tracking providers available.

Once you get the go-ahead from your auto insurance company, do some research and get your fleet tracking set up. Policyholders should be in regular communication with the insurance company for the best results.

Try assigning a member of your team to be the point-of-contact for your company. Try not to skimp or aim for the cheapest policy. The fleet insurance company calculates risk partly based on who is driving the vehicles, so they need to know this information to accurately calculate how much your commercial fleet insurance cost will be. Most big-name companies offer this type of insurance.

No, these policies are only for businesses. Fleet insurance for personal cars is not an option for families. However, if you are unable to do so, each state has a minimum waiting period of at least one year after the accident to file a claim in some cases up to six years.