Tips for reducing your business motor insurance

Business motor insurance can be a minefield. Here are some things to consider to reduce the cost.

By Lisa Parker, director, West Craven Insurance Services

Risk management Having systems in place to identify the risks that your vehicles are subject to and taking steps to make improvements will assist towards reducing the cost of your insurance.

Combined insurance Combining your motor insurance with other business insurances could offer savings and reduce admin.

Review your policy annually and renew in good time This will allow you to shop around and ensure you’re still being offered the best deal without a costly break in cover.

Use forward facing camera technology Footage can be used as evidence following an incident. Clear evidence from a dash cam can help speed up insurance claims and combat fraud and therefore bring down your premium.

Telematics for vans and large commercial vehicles Use technology to monitor driving behaviour and assist with lowering the price paid for cover.

Ensure good vehicle security Good vehicle security should go without saying but check with your insurer as approved alarms, immobilisers and tracking devices could lower your insurance costs.

Driver training By taking a proactive approach to driver training and improving skills at every level, you can benefit from not only lower premiums but also fuel consumption and fewer accidents. Manage young drivers Don’t assume the same rules apply to those under 25 as many insurers won’t accept them on high spec vehicles. Ensure you have the right drivers for the right job and vehicle.