For fleet operators, keeping costs down and retaining good levels of cover are paramount. But this doesn’t necessarily mean cutting their fleet insurance cover as operators; if they take an objective view, the costs cost be reduced easily. If an operator is new and are about to build on their fleet, it is important to look at the vehicles to be purchased as some models do attract higher premiums. A typical example would be the difference between a pick-up with or without tipping capabilities.

Another obvious difference would be a Multi-Passenger Vehicle up to eight seats or a minibus with nine or more seats. Next, where are the vehicles kept? Insurers look at whether all the vehicles are kept at the same address in a locked compound overnight or if employees take them to their own address, perhaps in a higher risk area on the public highway. Looking at drivers themselves, if are they all over twenty five, then driving can be restricted to that age and over. This can result in cheaper fleet insurance premiums. 

Furthermore, if there are only a few drivers, insurers look favourably at named driver policies only, as long as administration on the operator’s part is not a burden. The majority of insurers also prefer drivers who have held a full UK licence, conviction free, for over two years.

Insurers also look at the efficiency of risk management. For example, are drivers given a handbook of procedures and rules? Any fleet operator will also check every drivers licence periodically, but at least once every six months. These all count towards maintaining a healthy assessment of the overall risk to insurance companies.

Next, look at the cover you need. Does the whole fleet need to be insured on a comprehensive basis? If a few vehicles are ageing, it could possibly be worth reducing cover to third party fire and theft, saving potentially a few hundred pounds per vehicle.
 
But a consideration must be made as to whether a fleet operator can afford a vehicle being off the road following a fault, partial fault, or ‘hit and run’ accident where the third party is not known. Another option would be to retain comprehensive cover but elect to opt for a voluntary excess to reduce the premium. For further advice, options and terms, always contact a reputable broker as they can assess your needs and provide the cover you require.