If you own or operate a motor fleet, then you’re likely aware of the importance of motor fleet insurance. Motor fleet insurance provides protection for all the vehicles in your fleet, and it’s mandatory in most countries. However, fleet insurance can be expensive, and the premiums can put a strain on your budget. Fortunately, there are ways to reduce your motor fleet insurance premium costs. Here are ten strategies you can use to lower your premiums.

1. Choose the Right Type of Coverage: You need to choose the right type of coverage that suits your business requirements. This means that you should consider the level of protection you need for your vehicles and drivers. You might be able to save money by selecting a more basic level of coverage, but make sure that you don’t compromise on essential features like third-party liability.
2. Install Security Measures: Insurance companies are more likely to offer lower premiums if your vehicles have security measures like alarms, immobilisers and tracking devices installed. These measures help to reduce the risk of theft, and therefore, insurance companies see them as a positive factor when calculating premiums.
3. Train Your Drivers: It’s essential to train your drivers on safe driving techniques and how to avoid accidents. Insurance companies are more likely to offer lower premiums to fleets that have a good track record of safe driving.
4. Set High Standards for Vehicle Maintenance: Maintaining your vehicles to a high standard can help to reduce the risk of accidents and breakdowns. Insurance companies will view this positively and offer lower premiums as a result.
5. Increase the Excess: The excess is the amount you pay towards any claim. Increasing the excess can lower your premiums, but make sure that you can afford to pay the excess in the event of a claim.
6. Consider Telematics: Telematics devices can monitor the driving behaviour of your drivers and provide real-time data. Insurance companies use this data to determine the risk of insuring your fleet. If your drivers have good driving habits, then you might be able to negotiate lower premiums.
7. Review Your Policy Annually: It’s a good idea to review your policy annually and make sure that it still meets your business requirements. You might find that you can save money by switching to a different insurer or by negotiating a better deal with your current insurer.
8. Increase Your Deductibles: The deductible is the amount you pay out of pocket before insurance kicks in. By increasing your deductibles, you can reduce your premiums. Just make sure you can afford to pay the deductible if necessary.
9. Bundle Your Policies: You might be able to save money by bundling your motor fleet insurance with other types of insurance, such as property insurance or liability insurance.
10. Shop Around: Finally, it’s always a good idea to shop around for the best deal. Different insurers offer different rates, and by comparing quotes from different insurers, you can find the best deal for your fleet.

Reducing your motor fleet insurance premiums doesn’t have to be a daunting task and Metal Protect is here to help. Remember that motor fleet insurance is an important investment for your business, and it’s worth taking the time to find the right policy for your needs. So get in touch with a member of our expert team today!