Fleet Car Insurance Too High? Here's How To Drive Down Your Premiums! - Money Soldiers

Fleet Car Insurance Too High? Here’s How To Drive Down Your Premiums!

When you operate a fleet of vehicles at your business or organization, one of the costs you have to bear is insurance.  The thing about car insurance is that there’s no escaping paying for it!  You have to insure any vehicle you drive on a public road.  It’s the case for most countries around the world.

The sad truth is many people pay too much money for their fleet insurance.  But you’ll be pleased to know that I can share with you some secrets to driving down those costs!  The following tips will be ones you wished you knew about earlier!


Review Your Fleet Insurance Provider

It’s easy to stick with the same fleet insurance provider out of loyalty or convenience.  The only trouble is; you won’t always get the best deal by sticking with the same vendor!  When your fleet insurance is up for renewal, spend some time getting quotes from their competitors.  You won’t have a problem finding fleet insurance companies, like Insure Fleet, that can supply you with quotes for your vehicles.


Match Drivers to Appropriate Vehicles

One of the reasons fleet insurance can get so high is companies fail to match their employees with suitable cars.  For example, giving someone under 25 years of age a Porsche 911 as a business car isn’t a good idea.

Despite what you might think, fleet insurance isn’t a way of paying a fixed price for any vehicle.  The same rules apply to insuring fleet cars like they do with insuring models you own personally.


Don’t Offer Company Cars to Dangerous Drivers

You might employ someone that’s brilliant at their job.  But if they are a terrible driver, the last thing you want to do is offer them the use of a company car.  Instead, it would be a better idea to increase their salary in lieu of not having a vehicle.

That way, they can buy a vehicle and insure it themselves.  And what they drive is no longer any concern of yours.


Don’t Go Overboard with Your Leasing

There’s always the temptation to choose models that offer the latest technology or high-performance engines.  Although you could afford such leases, the costs to insure them will be almost stratospheric.

That’s why you should have a tight reign on your fleet spending.  Limit yourself to fuel-efficient vehicles.  Apart from spending less time at the gas station, the insurance costs will be lower.  Put it this way – which car is cheaper to insure?  A mid-range diesel or a high-performance gas guzzler?


Limit Your Fleet to Vehicles You Need

Did you know that many organizations lease cars but seldom let them get driven?  That’s because they keep them as “spares”.  It’s a ridiculous idea, of course.  If you need a car in an emergency, it will make sense to rent one from the likes of Avis or Enterprise.

One way to keep both your fleet and your insurance costs down is to only have cars you need.  In other words, the ones that will get used on a daily basis.

Click Here to Leave a Comment Below 5 comments
Amos - March 5, 2015

I have offered my company car to dangerous drivers but I will take this into consideration next time.Great tips!!Thanks for sharing…

Jason Hill - May 14, 2015

How do you establish who is a dangerous driver and who is not? Do you require each new employee to take a driving test? It may be a hassle, but it seems to me that perhaps the best way to determine the the safety status of a company driver is to send someone along with them to do an inspection of their driving habits without them knowing they are being graded.

    Arnel Ariate - May 15, 2015

    That’s an excellent idea, Jason.

Correy Smith - July 21, 2015

These are some really good tips that were provided by the author. It seems like auto insurance can also benefit certain companies with vehicles of their own. I guess it\’s something for me to be looking at as well.

Grant Harper - July 21, 2015

My business has a fleet of vehicles that are used by the employees that go out to different offices and to meetings. We have had a difficult time in the past finding good insurance, but it would be really nice to look into lowering it. If we could give each employee the appropriate vehicle and limit the amount of cars that we need, I am sure it would really help us out. Then we wouldn\’t have to pay for as many cars, but we would still has as many as we need!


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