How to Save Money on Fleet Insurance in 2022

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There are many technology options and safety solutions that can help you save money on fleet insurance. Many fleets have noticed the cost of insurance premiums has been rising over the past years. They may be set to increase again in 2022 with the proposal of a new bill that will raise the minimum insurance requirement that fleets have to carry. This bill is intended to improve safety on the roads, but it could potentially raise premiums by up to double. Read more about this change in our blog article, “What You Need to Know About Fleet Insurance in 2022.” This means that saving money on fleet insurance is now more critical than ever. Luckily, we have some tips on how to do precisely that. 

Dashcams and Tracking

Installing dashcams and tracking in your vehicles is one of the first steps in creating a safety culture for your fleet. Not only does it make your fleet more efficient and keep them safe, but it also saves you money on your insurance premiums. Tracking where your vehicles are can prevent them from falling prey to thieves. Whenever a thief strikes, you can easily tell where your vehicle is and report it to authorities. 

But tracking doesn’t just tell you where your vehicle is. It also gives you insight into your drivers’ behaviors. It can track all kinds of dangerous behaviors like speeding and hard braking, so you know which drivers may need some training to get back on track. Dashcams also track driving behavior. 

The best dashcam to get is an AI dual-facing dashcam. This dashcam shows you everything going on both on the road and in the driver’s seat. It provides another way for you to track driver behavior, particularly signs of distracted driving such as cell phone use or drowsy driving. However, there’s an added bonus that dashcams can exonerate your drivers if an accident occurs and it’s not your driver’s fault. Dashcams serve as the most reliable witness to an accident and can save your company (and your insurer) thousands in costs relating to accidents. 

Employ a Maintenance Plan

There are many benefits to implementing a maintenance plan for your fleet. Our article, “Fleet Maintenance Plan & Checklist,” goes into detail, explaining what one is and how to create one. Once you create a maintenance plan, you can enjoy your vehicles for longer, save money on maintenance costs, and your drivers can feel safer in their vehicles. Another benefit is that you can save money on your insurance premiums. If your truck blows a tire or has a brake failure and gets into an accident, your insurer won’t be happy. Therefore, they’ll often be glad to offer an insurance discount if you have a maintenance plan in place or technology like maintenance alerts that help you keep up with your vehicles’ regular maintenance. 

Implement Training Practices

Regular training refreshers are critical for any profession, but they are vital for fleet drivers who have so much risk on the job. Your fleet should have a way to measure your drivers’ performance such as safety scores and implement targeted training based on each driver’s specific needs. This way, drivers are getting only the training that they need and you’re not wasting your training efforts on information that they already know. Regular training is part of creating a safety culture among your fleet that will boost your drivers’ awareness of safety procedures whenever they’re on the road. 

Start Saving on Insurance Premiums with Azuga!

Azuga offers dashcams, maintenance alerts, safety scores, and training tools that will help you create a safety culture that will have you saving money on insurance premiums as soon as possible. If insurance premiums increase as much as estimated in 2022, you’ll need to take advantage of these tools to save money. See everything that we have to offer on our website