Fleet insurance trends to be aware of in 2021

Fleet insurance trends to be aware of in 2021

December 18, 2020 Views: 759

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Making sure that your fleet of commercial vehicles is operating smoothly can make or break a business. Staying across your maintenance schedules, keeping your commercial fleet in good working order is just the half of it. 

You need to consider your Fleet Insurance as well and, just like you need to give your fleet a tune-up from time to time, you need to check that your fleet insurance is fit for purpose as your business grows and evolves. 

 

5 trends to consider with Commercial Motor Fleet Insurance:

How has your fleet usage changed over the past 12 mths?

If you are in the e-commerce and parcel delivery business, then you might be busier than ever and potentially adding new vehicles to your fleet to keep up with demand. As your fleet evolves and grows you need to ensure that your fleet insurance aligns correctly to the size and scope of the current commercial vehicles and their operating schedule.

 

Has the value of your fleet changed?

The replacement value of your fleet may change over time due to supply and demand of both new and used vehicles. Checking the market value of your fleet can help you to determine an appropriate replacement value for your fleet.

 

Are you driving similar or new routes?

Roads and routes change over time. Have your drivers adjusted their routes to reflect safer and easier driving options? Have your drivers shifted the times of the day that they are driving? These usage patterns can influence your insurance coverage and associated fleet insurance premium levels. 

 

Have your drivers changed? Added any new drivers to your team? 

The individual drivers of your commercial motor vehicles are an important part of your team. As new drivers join your commercial fleet driving team, their driving records and claims history may influence your fleet insurance premiums. Make sure you are aware of your drivers and their driving records.

 

What goods does your fleet move around? 

The mix and makeup of the types of goods that your commercial drivers move around may change over time. Be they goods for your business or goods that you transport around on behalf of your clients. Variables that may affect your insurance premiums could be the types of goods, the volume of goods, the value of goods and the frequency at which you transport them. 

Get coverage for your commercial motor vehicles with Fleet Insurance. Insurance Brokers can assist with a review of your fleet and your commercial motor insurance to ensure your business is covered and your fleet insurance can support and enable your business operations. 

 

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Insurisk Solutions Pty Ltd ABN: 84 616 172 877 CAR Number: 1251503

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