Without any doubt, the expense of small truck insurance in Australia is counted as a hard hitting thing. Even with a small scale fleet, insurance costs can be seen increasing by 10-20% every year. Still, honestly, most fleet companies have started to stick to some standard parameters to attain a reasonable truck insurance quote. So how does it all begin then? Normally, you have to find a reliable provider near you who can help you get maximum coverage under an affordable premium.
Here we have mentioned a few parameters that can help you reduce the premium costs at a significant level. So, let’s take a quick look at them.
- Hire Experienced Drivers
The foremost thing that insurance providers consider is knowing how many years of experience the drivers have. The reason is that professional drivers who have been into the same thing know how to better deal with adverse climatic situations and relevant working conditions. They often count this as relatively risky, therefore, willing to propose lower premiums. So, it is recommended to assign drivers with at least 2-4 years of experience.
- Set Out Trucking Routes
Definitely, trucks operate on specific routes, which can impact your truck insurance costs in the long run. For instance, population density and prevalence of snowy weather have a higher impact. So instead, choose trucking routes with less population and areas with less bad climatic conditions.
- Staff With Clean Driving Records
The past is the best medium of the future. Similarly, drivers with more accidents and violations record pose a high risk, contributing to high premiums. Now this gives you another reason for hiring drivers with no or least accidents or violations. Preferably, having experienced drivers is the only solution to this! So consider that carefully and just do not hesitate to ask them for their record during the interview.
- Bring in New Trucks
The mechanical condition, value, and age are other key factors that significantly impact your final truck insurance quote. Frequent installation of parts and maintenance of trucks directly informs the provider to raise a higher premium for insurance. As a matter of choice, stick to new trucks, meaning 7 years or newer. Also, take care of the fact that the fleet has modern equipment and accident avoidance technologies. This will create a win-win situation and convince the provider to introduce lower insurance costs.
In the end, reducing truck insurance premiums is not easy as it seems. Definitely, it is challenging and all about following the smart tactics mentioned above. However, collectively, they all can help you get a reasonable insurance premium for your small truck business.