Insurances. We have them for everything, life, home, and our business. But if you run a truck fleet, then the chances are you have noticed just how competitive the market has become in recent years.
Just as you would with any type of insurance, you should do a range of comparisons once every 6 months as a minimum. This will let you know the full scope of what is available ahead of renewal time.
It is good to know that you can add several things to your policy, like breakdown assistance, European coverage, and legal cover. So carefully consider what your current insurance provides and if you may get a better deal elsewhere.
If you have been one of the front runners on offering the haulage apprenticeship, you have likely had to make some adjustments to your insurance policies already.
When younger drivers join the fleet, there can be a much higher insurance cost due to their age. Alongside the apprenticeship initiative, the HGV license requirement has now been reduced to 18 years of age.
The changes in the apprenticeships and age restriction were done to combat the current shortage, which means there many more young people are joining the trucking community.
However, this means that when looking for a new policy, you have to consider the future of your company in terms of younger drivers.
Several changes have happened in the trucking industry in recent years. And these are likely to have an impact on the price of insurances; a number of these changes can be seen in the infographic below.
Infographic Designed By Truck Insurance Comparison
