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Reduce Your Fleet Insurance Premiums Now
Category :- Insurance

Author :- Steve Davids 
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Posted on November 27, 2017, 12:38 pm
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When it comes to insurance, fleet managers have a hefty task ahead of them: getting the best coverage for a large number of people at significant risk. While fleet insurance can be pretty pricey, it is possible to drive down those premiums. The answer is both very simple and very difficult: reducing fleet accident rates. Claims costs make up a massive percentage of fleet insurance, so reducing accidents means reducing claims, and reducing claims means reducing premiums. Though as a fleet manager, you can’t control every driver in your fleet, there are some methods you can employ to reduce your accidents.


Know Your Fleet


If you’re going to reduce your accidents, you first need to know exactly what you’re dealing with when it comes to your drivers – and this means data. Carrying out routine assessments is the best way to have accurate information about your fleet and your fleet’s incidents. Use this information to identify common types of incidents, common factors in these incidents taking place, and any other major trends that seem to appear across the board. On top of looking at the incidents that have happened, identify potential risk factors as well, such as young drivers or drivers with high mileage.


Check your drivers’ licenses on a regular basis to make sure you’re informed of any convictions; researchers have found that nearly nine out of 10 motorists would not disclose it to their employers if they received points on their license, an act of dishonesty that puts your fleet’s insurance at huge risk. You should use this information to talk to your insurer and get their take on your accident history and risk factors as it compares to other fleets, and on what weaknesses they perceive.


Act On Your Data


Once you have this data, use it to develop preventative strategies and measures geared towards the drivers you’ve identified as posing higher risks. Provide all your drivers with regular safety tips, but take extra steps when it comes to the more troublesome drivers; you might consider mandating they go through online driver training or practical, in-car lessons. The Insurance Bureau of Canada suggests developing an official fleet motor vehicle safety policy to make sure the safety procedures and expectations of the fleet are clearly communicated to your drivers.


You should also pay special attention to drivers with points on their licenses. Check their licenses more frequently than you do other drivers, and target them for additional guidance or training to improve their performance. Make sure you have a clear and detailed list of unauthorized activities and conduct when it comes to the use of fleet cars, including driving under the influence, be it of alcohol, banned substances, stimulants, medical issues, or anything else, and permissions (or lack thereof) of personal use of fleet vehicles.


Take Advantage of Technology


Thanks to the technology available today, you can collect more data about your drivers than ever before, and rely on concrete information when it comes to any accidents. Dashboard cameras and telematics can be used within a vehicle to allow you to gather data about which drivers employ unsafe driving methods most often, such as braking at the last minute or speeding on a regular basis. You can use this technology to keep an eye on what your drivers are actually using your vehicles for and even to figure out who is really at fault in an accident. You can also make use of a fleet information management system to compile and analyze data and to create thorough reports for both you and your insurer.


Fleet insurance is crucial for any commercial fleet, and whether you’re getting insured for the first time or looking to renew a policy to match your reduced accident rate, it’s important to know what competitive rates look like and what kind of insurance is best for you. Contact us today to get a free quote and to get connected with an experienced commercial insurance specialist who can give you personalized advice for your fleet.

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