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Submitted by: Jillynn Stevens
Management of fleet vehicles takes special skill and often an employee dedicated to making sure company automobiles are properly insured, serviced, inspected, and on the road. It s a serious test of management ability, as costs can easily spin out of control in maintenance, fuel, and fleet vehicle insurance. However, with a bit of savvy, the costs of coverage can not only be minimized, but also pay dividends. Below are a few tips from the experts.
Know your Driver
The sweet spot for insurance companies is drivers between the ages 40 and 60 past the impulsiveness of youth and before the potential impairments of old age. Try to keep drivers in this age group and avoid the temptation of hiring cheaper college-age kids, as under-25 rates tend to be the highest. Hiring or registering more female drivers also helps reduce costs, as their better driving statistics are appreciated by auto insurance companies. But most of all, choose employees with clean driving records (3-5 years) and sterling credit histories.
Go Green
Embracing Mother Earth gives more benefits than just a cleaner conscience. The initial investment might be greater, but for long-term cost saving, it s hard to do better. In addition to the enormous tax breaks being offered (hybrids up to $3,400 each) and savings on gas, most top tier auto insurance companies offer discount rates for eco-friendly cars, sometimes a full 10 percent.
Know the Map
There are usually many paths to a single goal, and picking the least trafficked and most secure can do much to ease the fears of business auto Insurance companies. Going the extra mile or mapping out routes in lower risk areas, can translate to leagues of savings. It s no accident that Detroit has the highest car insurance rates in the nation.
Go Seasonal
Christmas comes every year, but it rarely lasts that long when it comes to business. Take advantage of the slower times by temporarily reducing coverage for some of the fleet. Protecting seldom used vehicles or those in storage is cheaper than keeping the status quo. Ending coverage altogether may be tempting but can seriously affect the long-term rate, as insurers give reductions for steady, continual coverage and the number of vehicles covered.
Security
It s 2 am. Do you know where your fleet is? Saying yes can do much to calm the nerves of the insurance company s risk calculators. Luckily, there s plenty of technology to help keep tabs. GPS tracking, alarm systems, immobilizers, and stop assist technology are just a few. Some insurers even offer their own technology, sometimes just an app for the phone, to measure and record individual driving performance. Install them in the fleet and reap the up-to-25 percent discounts. Another security measure is keeping fleet vehicles in a secure setting like a fenced, locked parking lot.
Fleet Auto Insurance can benefit your business in a multitude of ways. One size does not fit all, and the most savings go to those with the most intimate knowledge of their staff, technology, environment, and business cycle. Covering all these areas under a single insurance policy offers a great opportunity to streamline and tighten the business as a whole.
About the Author: Jillynn Stevens, Ph.D., MSW is an author and writer with many years of experience publishing on-line and hard copy reports, articles, blogs, book chapters, and more. She highly recommends visiting
thomasinsure.com
.
Source:
isnare.com
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