Money Saving Ideas on Truck Insurance

These money saving ideas on truck insurance will help reduce the costs of operating your fleet, while at the same time makes your operations more efficient and reliable. This will help your organisation to keep on schedule, so those you are making deliveries to know they can count on your company now and into the future. These tips also apply to most fleet insurance types, including multi fleet van insurance and HGV insurance.

What is the easiest way to save on truck insurance?

The easiest way to save on truck insurance is to keep the vehicles secure. This should be done in different ways. This has to include when at your facility and on the road.

The facility

By making the facility secured when the trucks are stored and not in use is always looked favourable by insurance firms. By storing them in a locked building is preferred, but they can also be stored in a secure lot. When using an outdoor lot, the perimeter should have a high fence surrounding it with security cameras, alarms and lights to illuminate the entire fleet. These are considered theft deterrents and will persuade potential thieves to look for an easier target.

The trucks

In the past, it was common to put alarms on the trucks. This is still a very good deterrent, but today they also have immobilisers so that the vehicle can’t be moved except by authorised personnel.

The latest innovation in securing a vehicle is the hidden installation of a GPS tracker. This electronic device is small enough a potential theft would never know it is present. With the device always being on no matter where the vehicle is, the tracker will send out a signal and its location is known. This makes it possible to recover the vehicle and in most instances apprehend the theft.

Do drivers affect the cost of truck insurance?

The operator’s driving record of your trucks has a direct correlation to the cost of the insurance premiums an organization will pay. The following is a description of an ideal driver to hire.

  • A driver over the age of 25 with a minimal 5 years experience with the class of vehicle in your fleet.
  • Operators that have a clean driving record with no summons, accidents, claims involving a road risk event.
  • A clean criminal record of the driver is also essential in keeping the insurance premium as low as possible.
  • An operator with the proper training that is documented for the class of trucks your organization operates is a bonus and contributes to lower the premium of truck insurance.

An organization should also compare fleet insurance  quotes so that they can match up the coverage they need at a price that fits their budget. Another suggestion is to look at HGV fleet insurance so both factors in operating trucks for hire and reward can be maximized.

The above money saving ideas on truck insurance can lower the cost of fleet truck cover for an organization so other areas can be better funded to help make the business run smoother and the revenue stream can potentially increase over time.

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