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How to Keep Commercial Fleet Insurance Costs Down

Whether you’re the manager of a large commercial fleet or a small business operator with just a few trucks, insurance costs are a tough challenge. But there is a way to reduce the costs of your commercial fleet insurance plan.

Two primary factors have the greatest impact on the cost of commercial fleet insurance premiums. Those are:

  • Your frequency of accidents
  • The cost of your overall claims

There are things you can do within your processes to address these two factors.

Call 601.992.4444 for more information or request information about buying commercial fleet insurance.

Controlling Accident Frequency Starts with Screening your Fleet Drivers

Your commercial fleet insurance costs are best controlled through preventative techniques. Even if your fleet of drivers have recently experienced a batch of accidents, implementing preventative programs can work to reduce your commercial fleet insurance premiums down the road and going forward.

Prior to hiring a new driver, you’ll want to follow a standard driver vetting procedure that includes securing a copy of the driver’s license for new drivers and trainees. The next step is to contact the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration’s pre-employment screening program.

This service is designed to help commercial operators make informed hiring decisions by gaining access to a driver’s crash and inspection history without violating the driver’s personal and private information.

Once you’re sure you’ve got a reliable driver, it’s time to look into your driver training and awareness program.

Driver Training Can Help Reduce your Fleet Insurance Costs

The second factor that affects the commercial fleet insurance price is the cost of your overall claims. Keeping those claims in check can be achieved by improving your driver training; safety is good for your business’ bottom line—it’s as simple as that.

Many fleet operators send their drivers to specialized training courses, which are of significant value and should be recommended whenever possible. Whether you’re a new motor carrier just starting out or an established company with years of experience, you’ll find that good safety practices save lives, reduce injuries, and reduce your insurance costs at the same time.

*The average cost of a large truck crash is approximately $91,000 per crash.

Source: U.S. Department of Transportation Federal Motor Safety Administration (http://www.fmcsa.dot.gov/safety-security/good-business/index.htm)

Call our team of fleet insurance pros at 601.992.4444 to discuss your needs and the options available to you.

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