How To Lower Haulage Fleet Insurance Costs-some Expert Advice
Haulage fleet insurance, like all other types of fleet insurance covers is vital to your business
. It should ideally cover all possibilities of damage. While providing comprehensive coverage, it should also be cost effective. This article provides expert tips on lowering your haulage fleet insurance premiums.When looking for a cut in your haulage insurance prices, consider including restricted driving in the policy. Driver policies are widely flexible for fleets but you may have to pay extra premium charges for availing the facility. Restricting your fleet to a stern list of drivers is a good way of bringing down your insurance costs.
Next comes striking a balance between limited use and foreign use. Ideally, a fleet can operate within pre-specified geographical locations and be covered by the policy. When the vehicles of the fleet suffer from damage while outside these locations, cover is no longer valid. Hence, limiting foreign use and staying within the decided geographical areas can lower costs. If your fleet is covered for say, Britain and you need to send a truck to Europe, send one with foreign use coverage.
As is applicable to all automobile insurance policies, having a no-claim history can significantly lower your current insurance costs. If your past automobile insurance policies were fulfilled without making any claims of the insurance company, you can be entitled to significant discounts. These discounts can range from 20% to as high as 60%.
Most haulage insurance policies impose a mandatory excess. This excess is generally around 500. Voluntary excesses may help save money but can cost you dearly in case you need to make a claim.
Remember that haulage fleet insurance does not insure the cargo. The goods will have to be insured separately. You will also need public liability insurance.
Usually, all haulage fleet policies exclude trailer cover. However, some policies may provide limited coverage for trailer. You will have to check the extent of the coverage and whether or not the trailer, when disconnected from the truck is covered. Our advice to you is to list all your coverage needs and possible mishaps. This will give you an idea of the kind of haulage fleet insurance your business requires. Next, create a document of your driver's specifications. You should include their driving histories, ages, medical-records and whether their driving has progressed or digressed over the years. Having these two documents with you will help you narrow down to the most helpful fleet insurance for your business.
By following this advice you can lower the cost of your haulage fleet insurance, while still being confident that you have the necessary cover.
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