When small businesses first get underway, it is common to have one or two vehicles as the primary methods of transportation for the company. And while this may work in the short term, transportation requirements can change dramatically as a business grows. Once a business is operating five or more commercial vehicles, that business is also managing a fleet.
“When business owners become fleet managers too, they need to review their commercial auto insurance policies to ensure they are properly covered and getting a good rate,” says Paul Lucarelli, fleet director at RSA Canada. “At the same time, take advantage of the risk management advice an experienced fleet broker and insurer can provide to help prevent accidents and contribute to the overall success of a business.”
According to Transport Canada, approximately 75 per cent of crashes result from driver error. The following tips from RSA Canada will start small business owners on the right path towards operating a safe fleet and ensuring they have right fleet insurance coverage in place:
• Assess your needs — How large is your company? How often are your vehicles on the road? Determining these answers will allow you to choose the best coverage for your business.
• Research, research, research — There are a number of options and plans available for commercial fleet insurance. Know the playing field before committing on the dotted line.
• What type of vehicles are you insuring? — Depending on the values and types of vehicles that require insurance coverage, you may want to consider varied coverages and limits to provide the right coverage for the best price.
• What are your intended uses for the vehicles? —Are they all going to be used for the same purposes? If not, you may be able to have a varied plan that allows you to save money.
• Invest in driver training — Make sure you're promoting a culture of safety in your organization. Well-trained drivers mean lower insurance rates and fewer accidents - that means fewer claims.
• Manage the maintenance your fleet — This will result in a better performing fleet, reduce your potential for down time, and decrease your insurance rates.
• Work with an experienced fleet broker andinsurer — Take advantage of their loss control expertise. Loss control officers can help you identify areas for improvement, save you money and help you prevent accidents.
- Managing your fleet properly and ensuring you have the right insurance coverage can help prevent accidents, reduce the potential for down time and contribute to the long-term success of your business.
Take advantage of the risk management advice an experienced fleet broker and insurer can provide.
More information on fleet insurance or on finding an RSA insurance broker near you can be found online at rsagroup.ca.