Reducing insurance premiums requires several small steps rather than simply changing providers every 12 months, as John Kendall finds out.
TAXES, fuel and insurance premiums; probably the top three things that transport companies would be happy to pay less for. If you run a successful operation, the chances are that the first two will continue rising, but can you do anything to reduce insurance premiums?
The answer is yes and with larger operators paying premiums in the hundreds of thousands of pounds each year, reducing that figure is attractive. There is a but, in that you would probably have to spend more on security equipment to reduce those premiums, but as these would probably help to reduce insurance claims in the process, it should be money well spent.
The starting point for reducing your insurance premiums may seem like an obvious point. Next year’s insurance premiums will be determined by this year’s claims, so the lower your claims this year, the lower your premiums are likely to be for next year.