Fleet van insurance can be one of the most costly parts of running a fleet business. While fleet insurance is cheaper than standard vehicle insurance, the more vehicles you have, the more expensive it can be to cover all of them. Luckily, there are many ways to save on insurance that you may not be taking advantage of in full. Many providers offer discounts for different safety features or other measures you can put in place, as it means you are less likely to file a claim with them. Azuga can help you implement many of these measures in your fleet, so you can start enjoying these discounts as soon as possible. Find out five ways you can save on your insurance premium in this article.
1. Improve Fleet Insurance Scores.
A fleet insurance score is also called an insurance credit score, and it determines how likely you are to file a claim with your insurance. Several factors go into calculating your insurance score, including:
- Long established credit history
- Numerous open accounts in good standing
- No late payments
- No past due accounts
- Low use of available credit
- Collection accounts
- Driver behavior
- Local factors such as traffic congestion and weather conditions
- Historic accident risk
You can learn more about insurance scores in our fleet tracking glossary.
2. Improve Driver Safety and Training
Driver safety should be a top priority for your fleet, no matter how much your insurance costs. However, by making safety your top priority, you can save on your insurance premiums. Azuga offers many features such as dashcams, telematics, and reports through fleet management software that tracks driver behavior and alerts you when drivers have issues that need addressing. Then, with solutions like driver rewards, safety scores, and Azuga Coach, you can target these issues for training and improvement so drivers can be at their safest behind the wheel.
3. Improve Your CSA Score.
Your CSA score, also known as your compliance, safety, and accountability score, is what the FMCSA uses to identify high-risk motor carriers. This score uses a 100-point scale, with 100 being the worst and zero being the best. Safety violations count against you when it comes to calculating your CSA score, and they are weighted with the following factors:
- Number of violations
- Severity of the violations
- Date of the violations (more recent violations have more weight)
- Number of fleet vehicles operated by the carrier
- Miles traveled
- Registration details
There are many ways to improve your CSA score, including dashcams, preventative maintenance, and improved training. Azuga’s fleet management software offers assistance in all of these areas, and our fleet tracking glossary can give you even more insight into CSA scores and how to keep them low.
4. Improve Fleet Vehicle Lifecycles.
Having the best vans at your disposal is instrumental in ensuring that your fleet is safe on the road and maintains reasonable insurance rates. Of course, keeping vans well maintained is an integral part of this, and Azuga helps with that by providing insightful maintenance alerts that tell you whenever your vehicle has an issue that needs attention. However, it’s also vital to know when your vans need replacing. There are many strategies for vehicle lifecycle management, but all of the best options involve keeping well-maintained vans on your fleet. For more information on vehicle lifecycle management, check out our blog post: How Azuga Keeps Your Fleet Vehicles Operational and On the Road.
5. Implement Telematics Software.
If you’re not already using telematics to some capacity, you may be behind your competitors. Telematics is immensely popular in the fleet industry for the many benefits it offers to fleets of all shapes, sizes, and industries. Telematics is the technology that allows vehicles to communicate directly with operational software systems. It can lower your insurance costs significantly by providing actionable data proving your fleet’s safety record. It also prevents theft and helps your fleet keep up with maintenance. It’s so useful for insurance purposes that we have an entire article dedicated to the topic: How Does Telematics Reduce Insurance Premiums?
Get Started Saving with Azuga Today!
Azuga offers a variety of safety and tracking features that prove to your insurance provider that your fleet has high standards for safety and compliance. If simply having the features isn’t enough to obtain a discount, the hard data that you collect through telematics should be enough to show a pattern of positive behavior that may result in a discount later down the line. Find out everything you can do with Azuga by trying out a demo today.