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Managing Insurance Costs on a Fleet of Vehicles

Oct 30th 2015 at 4:01 PM

Keeping overheads under control is a major concern for businesses in managing their cash flow and turnover.

For a business that needs a significant number of vehicles as part of its operations keeping fleet hire or purchase and maintenance costs down and securing the best van insurance deals will be important.

Businesses should have good information about the driving history, ages and any health issues its drivers are likely to have and also to ensure that they are offered training in safe and economical driving behaviour.

Among the considerations for fleet managers are what types of vehicles will be most useful and whether it would be more cost effective to lease or buy the fleet.

It may also be helpful to negotiate with suppliers to see whether an exclusive contract to buy or lease the whole fleet using one manufacturer will lead to saving.

Suppose the business needs a range of vans from the smaller car-like designs for local work and larger transporters for larger jobs. Availability of a full range from manufacturers like VW, Ford or Vauxhall and how readily they can be modified to suit the particular business may be a key part of the research when a fleet contract is coming to an end and the business is shopping around for replacements.

VW, for example, offers a range from the Caddy to the Transporter (large panel vans) and Crafter offering a wide choice of options to cover every aspect of the business operation.

Van insurance deals will be part of the calculation.

When existing insurance is coming up for renewal if is worth shopping around to compare prices and asking lots of questions.

It is important when looking at renewing or new Ford, Vauxhall or VW insurance to know whether any vehicles in the fleet are likely to be regarded by insurers as more accident prone, what kind of additional costs there are for high mileage and whether additional security measures or drive behaviour monitoring can bring down the premium costs.

The insurers’ assessment of the value of a vehicle can make a difference also. This may affect the choice of manufacturer the business will opt for when buying, leasing or replacing its fleet.

Proper initial research and shopping around should be habitual good practise for businesses whether it is for fleet purchase, lease or for the best Cheap Business Insurance deals.

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