Insurance for Fleet Managers
As a fleet manager, business insurance should be a top consideration. With the majority of your business assets on the road and at risk of an accident, having top-notch commercial auto insurance is a must.
Commercial auto insurance protects your business in the event of property damage or bodily injury and will help cover legal expenses incurred due to an accident. Additionally, your policy will ensure you aren’t stuck with the repair or replacement cost if company vehicles are stolen or damaged in a theft attempt.
How to Reduce Insurance Costs for Your Fleet
Commercial auto insurance can be costly, especially when managing a fleet. Here are a few tips to keep your expenses within reason:
- Risk Management: First and foremost, ensuring you have risk management systems in place is paramount. A supervisor should consistently review and assess company drivers to determine if they have higher risk potential, such as previous driving violations.
- Driver Safety Programs: Investing in driver safety programs will lower the likelihood of accidents. Consistently reinforcing proper driving protocol and best practices over time will show insurance carriers that you are a less risky organization.
- Vehicle Maintenance Systems: Systemizing regular vehicle maintenance will prevent roadside issues and accidents. The fewer failures a provider sees when reviewing a company’s auto history, the better.
- Consider Using Telematics: Telematics, or GPS and sensors used to monitor driving habits, can be highly beneficial when trying to find lower rates. Additional supervision encourages drivers to follow proper protocols, thus creating less risk and lower premiums.
- Explore Coverage Options: As with any insurance, it’s essential to explore coverage options with your agent consistently. Whether there are bundling opportunities or unique plan types to help manage expenses, your insurance broker’s expertise is invaluable in keeping your business protected.
Looking for More Advice?
If you are looking for additional advice on the types of coverage your business needs or how to lower your current insurance costs, we would love to be your go-to resource! Please contact Steve Longenecker (303-808-9351 x2) at Mountain Insurance: Longmont with any commercial insurance needs or questions.
We give out $25 gift cards for referrals that become our insurance clients.
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