Fleet_insuranceThe insurance policy for your fleet of heavy goods vehicles is due for renewal and for a variety of reasons, not necessarily down to you, insurance claims have been significantly higher this year compared to last year. An increase in night time driving, more foreign road trips, driver absence/replacement or just plain bad luck have all contributed to more claims and a subsequent increase in your insurance premium or difficulty finding suitable fleet insurance.

Though all your claims have been covered by your fleet insurance policy, as a fleet manager or owner, there is a limit to what you can do in the way of planning for these events.

The increase in fleet insurance premiums following a particularly bad year could have a major impact on your future profitability.

The question is, how can you reduce the risk of some of these incidents from happening in the first place? You could stop night driving and overseas trips and only use drivers that are employed by you that have a good safety record. However, this may result in less work and limit your ability to meet your clients’ requirements.

Another way is to find out whether fleet insurance with telematics would work for your business.

1.Fleet insurance with telematics (“black box” insurance)
Telematics is the use of technology to assist drivers, fleet managers and owners to minimise the risk of incidents that could lead to an insurance claim.

Telematics offers a variety of options to keep your drivers safe and mitigate some of the risks by collecting information to help manage your fleet, manage risks, assess your drivers and track your vehicles.

This is not always popular with drivers because they do not directly gain the benefits of fuel reductions, lower insurance premiums and fewer insurance claims. However, with proper communication and incentives, installation of a black box to reduce your truck insurance premiums can benefit drivers and owners.

2.On-board CCTV cameras
Camera systems are another way of supporting drivers in the event of an accident or criminal damage to vehicles. They provide a visual deterrent and can aid the police and insurance providers to quickly assess what has happened and deal with any claims, keeping disruption to a minimum.

3.Vehicle emergency brake assist
New and innovative active brake assist or emergency brake assist systems are becoming more popular as truck manufacturers incorporate them into new vehicles. These can operate to increase braking force in an emergency or monitor the distance between the vehicle in front and apply the brakes automatically. Providing assistance to drivers will help reduce accidents and truck insurance claims.

Fleet insurance brokers
Specialist insurance brokers can advise you on what has worked for other businesses like yours and can provide a guide to achievable savings.

CLA (Risk Solutions) provide individual advice on what is best for your business and may be able to offer financial support to help with the installation of these devices depending on your individual circumstances.

Talk to one of our fleet insurance specialists for more information 0121 321 4600.