Monday November 6, 2017
Ordinarily, fleet managers ignore the insurance, knowingly or unknowingly. However, they will realize the value of insurance after the occurrence of an accident. Consequently, you cannot prevent the accidents forever. Hence, accidents can be a concern for every fleet manager.
It is wise to have insurance for your vehicle fleet. Exclaiming why? There will be a significant reduction in the overall expenses, especially for vehicle maintenance after accidents.
Let’s explore the cost of an accident:
Certain costs that should be covered after accidents include the following:
And, the damage and costs vary, depending on the gravity of accidents, whether your fleet driver is guilty or not. While larger fleets can manage these expenses by utilizing the liquid assets you own, the smaller fleets suffer as the expenses will be expensive for them.
Why insurance premiums rise abnormally?
The insurance premiums can be relatively bulky, particularly when you insure expensive assets such as the cargo, trucks, or massive equipment.
This is because the premiums will be charged based on the risk the insurer bears with your asset (when equipment is heavy and expensive, the risk also increases accordingly).
Bigger the risk, the larger the insurance cost will be…..
Furthermore, you need to have additional coverage, which will not be incorporated in the basic insurance packages, such as uninsured motorists, contingent liability, etc.
Decreasing insurance costs for a vehicle fleet
Consequently, insurance premiums will be strictly based on the risk associated with a particular asset, and you can possibly reduce the premiums by lowering the risk related to those assets.
Here lists the procedures you can conduct for minimizing the insurance and lessening the impact of accident caused hazards:
1. Control claims to a minimum
Presumably, fleets with a relatively lesser number of accidents and claims will obtain a discount in their insurance premiums or at times dodge a major hike. Moreover, you can assess the claim history and inquire your insurer whether there is an eligibility for a discount, if you possess a clean chit.
2. Organize driver safety training programs
For keeping the claims to the minimum, it is wise to organize a safety training program or a driver qualification program. While conducting program, it is advisable to perform a background check, and henceforth averts the major accident risk of your fleet business.
3. Set up powerful and stable anti-theft security system
When a powerful anti-theft system is installed, burglars will be unable to move your vehicle and the assets contained in it. Hence, the risk of theft can be lessened.
4. Track your vehicle maintenance
By proper maintenance, your vehicle fleet becomes safe and secure. It is hazardous to move your fleet with damaged brakes, inaccurate gear shifts, and flubbed lights. In fact, once you track your fleet’s maintenance and is shown to the insurer, they will genuinely consider your fleet safety, and will provide the benefits you deserve.
GPS fleet management and insurance premiums
The GPS fleet management system can be utilized to fulfill the above objectives. With the GPS technology, you can track the driver and rectify their unacceptable driving behavior. And, you will be able to recover the stolen assets promptly. In addition to this, with the integrated GPS devices, you can access the on board diagnostics system for obtaining data for fleet maintenance.
Vehicle TrackingSuite 12