TelematicsDevelopments in the telematics industry have led to a huge take up by drivers and business car insurance companies. By connecting a black box to the diagnostics part of the engine, information is transmitted to third parties who analyse your speed, driving ability, attentiveness and any accident black spots you drive along. While some people may be concerned about the “Big Brother” aspect of these devices, there are also many good things about them. Not least that they can cut your insurance bills by 25 per cent ? so definitely worthwhile for a business watching its overheads.
Hiring a brokerThe process of finding business car insurance?that fits your requirements at a price that fits your budget is painstaking, time consuming and laborious. Hiring a broker takes the responsibility off your shoulders with the reassurance that they will get a deal that suits. Time is money, and finding car insurance deals is a major thorn in the side for a lot of business owners. Brokers will make sure they have every aspect covered at the best possible price.
Pay up frontMonthly business car insurance payments might work better for cash flow, but if you can,?pay the whole amount upfront. Monthly payments can work out costing hundreds more pounds more ? so definitely a good option?if you have the resources. Paying the lump sum is far better than the seemingly more manageable monthly payments. The savings are well worth it.
Vehicle camerasBusinesses benefit greatly from a focus on driver safety. The installation of video cameras into vehicles can not only help modify driving behaviour, but also be a very cost effective way of reducing the number and size of claims. There is a growing number of companies fitting cameras into cabins. However, it?s recommended that drivers are introduced to the idea beforehand with a full explanation of why the scheme is taking place. Some staff may initially find them intrusive and invasive.
How?s My Driving?Involving your organisation in the How?s My Driving? scheme is a way of educating drivers and providing a simple and cost effective way of monitoring your fleet. The How?s My Driving? scheme ? a social enterprise that reinvests money into road safety in Britain ? has been really successful over the years, and led to a significant reduction of accidents within organisations. By affiliating with the scheme, you can help create better driving records and encourage fewer road accidents. Mark Rigby is managing director of Insurance Revolution. How small firms can create an effective cyber security response
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