How to get cheaper HGV insurance without reducing the cover
I work for a distribution company in the South East of England and we have over 20 HGVs in our fleet. It’s my job as fleet manager to search for the best insurance deal for the company, but I don’t always go for the cheapest insurance deal. Sometimes the service you receive is more important and cheaper policies do not always provide a comprehensive policy.
As a company, we have always been concerned with the number road traffic accidents we were recording and the high consumption rate of fuel. In an attempt to tackle both of these issues, we recently announced a reduction of approx. 40% in road traffic accidents involving our trucks since we introduced a new safe driving program for all our drivers. Fortunately our insurance premiums have also reduced by 25% largely due to the new telemetric system we installed 3 years ago and the introduction of our safe driver training program.
Drivers are expected to have regular on the job driver training and follow-up review meetings to discuss training in areas such as speeding, harsh braking and acceleration. Their driving is also monitored and if it is felt that more training is needed our training manage will address the problematic areas.
We have a fantastic insurance broker, who we have used for a long time now. She was instrumental in the introduction of this safe driving scheme, she provided us with advice and guidance free of charge and also helped negotiate the significant discount. On top of the telemetric system and safe driver training program, she also advised that we reduced the speed limit of our trucks from 56mph to 54mph in an effort to continue reducing the number of incidents involving our vehicles.
To reduce our insurance premiums was not the only reason we looked to introduce this scheme, but we are committed to road safety and aim to introduce a ‘zero’ road incident target by the end of 2012. It’s a big commitment, but we feel we have the buy in from our drivers and the support from partners such as our local insurance broker.
If you’re keen to reduce your insurance premiums, don’t just get a cheaper insurance deal that might not fully cover you and your business. Instead, speak to your local insurance broker who should provide you with valuable insurance advice for free on how to reduce the premiums on a comprehensive policy. That way you benefit from the best of both worlds, comprehensive insurance at a fantastic price.
