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How to Save Money on Truck Fleet Insurance

If you manage a fleet of trucks, you’ll know that insurance can be one of the biggest expenses to pay. And cutting down costs can be one of the biggest challenges involved in running a fleet. You may want to keep insurance costs as low as possible, but it’s not always that easy when you need to ensure that you are fully legal, compliant and that you and your drivers and vehicles are protected. Being smart about acquiring new vehicles, taking steps to reduce the risk of insurance claims, and shopping around for insurance can help you save a significant amount over time.

Get Lots of Quotes:

Rather than just going with the insurance company that you used last year or the first one that comes to mind, it’s a wise idea to get as many quotes as you can for your trucking company when it’s time to renew your fleet insurance policy. Just like car insurance for your personal vehicle, it’s not recommended to simply renew without shopping around, as insurers are notorious for not rewarding loyal customers and it’s unlikely you’ll save. Get as many truck insurance quotes as possible to ensure you’re going with the best price for your needs. You can find tons of truck insurance quotes from QuoteZone; just enter your details into the site to see what insurers are available for your business. 

Hire Good Drivers:

Hiring good drivers will help you keep the cost of your insurance to a minimum. This is because experienced, well-trained, and careful drivers are less likely to be involved in collisions and other incidents on the road that will drive up the cost of your insurance policy. Typically, older drivers tend to get cheaper insurance, so it’s worth hiring drivers who are at least aged 25-30 to take advantage of lower insurance prices. 

Keep Your Vehicles Secure:

Theft and vandalism can also have a huge effect on the overall cost of your truck fleet insurance over time, so it’s important to make sure that your vehicles are as secure as possible. One highly recommended option is to install tracking devices in your vehicles so that it’s not only easier to manage your fleet on the road, but you also have the option to trace any stolen vehicles easily. You should also ensure that the premises where the trucks are kept are as secure as possible; while thieves do not often try to steal the trucks themselves, they can be very attractive to criminals for their parts, which will typically require an insurance claim to replace and can be very expensive. Take as many measures as possible to protect your premises, including hiring security guards, installing security alarms, ensuring that the area is well-lit, and installing CCTV. 

When you run a fleet of vehicles, insurance can be one of the biggest expenses that your business will face. By shopping around for insurance and taking smart measures to keep your vehicles safe with secure premises and drivers that you can trust, you can drive the cost down. 

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