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Getting Cheaper Haulage Insurance Premiums | Trucks of the Trade

Commercial Plan Insurance highlights the most effective ways for hauliers to keep haulage insurance costs at their lowest

Commercial Plan Insurance are extremely proud of their track record in helping haulage companies keep their haulage insurance overheads at some of the lowest rates in Britain. In particular, the company has been mindful of the need to minimise the affect of haulage insurance premium rises over the last 12 months in order to help their customers through these turbulent financial times.
To help companies further, Commercial Plan Insurance Sales Team Leader, Sophie Reeve, has recently highlighted ways in which haulage companies can take other measures to further lower their haulage insurance premiums by taking preventative action to reduce risk. “It’s all about risk management” says Sophie. “Hauliers can get their haulage insurance premiums reduced considerably if they can demonstrate that they are taking other action to reduce the number of accidents. In fact, there are a number of measures which we always suggest to haulage companies so that we can help them achieve the lowest levels of haulage insurance.”
One of the ways in which hauliers can keep haulage insurance premiums down is by enrolling their drivers on the Safe and Fuel Efficient Driving (SAFED) scheme. Sophie says: “This course was originally set up by the Government to improve the standards of drivers and reduce accidents. A company which shows it has taken part in this scheme is signalling to haulage insurance companies that they are taking positive action to reduce risk, and should see lower premiums as a result.”
On the course, drivers are made aware of the most common accidents which usually occur to haulage vehicles. “One of the accidents we frequently see is motorists trying to undertake HGVs at roundabouts,” says Sophie. “The car driver tries to dart past the inside, and the back of the trailer hits the front of the car. Drivers who are more aware of this problem, and ways to avoid it, will have fewer accidents and reduce their company’s haulage insurance premium.”
But awareness training should not just be limited to driving skills. Sophie also suggests that extra training for drivers on hours, working time and tacho regulations may also lead to a reduction in haulage insurance premiums. “It has been proved time and time again that driver fatigue is linked to accidents, and accidents increase haulage insurance premiums,” says Sophie. “If drivers fully understood the reasons for the regulations being in place they would be less inclined to breach them.”
Sophie argues that another way the industry can reduce haulage insurance premiums is by embracing technology. “You can use telematic data not just to improve the performance of the fleet, but also to bring back information about vehicle speeds and durations to improve driver behaviour. Modern digital tachos make analysing cause-and-effect of accidents much easier and companies should utilise this information to learn from mistakes. It’s a simple equation – fewer accidents means reduced haulage insurance premiums!”
Ultimately then, haulage insurance companies want to see risk-management schemes in place. Sophie says: “If something goes wrong, hauliers need to investigate what’s happened, ensure it doesn’t happen again, and communicate the findings to their drivers – the last point is an important one to remember because it’s the drivers who are on the frontline!”
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Commercial Plan Insurance has been in operation since 2001 and specialises in haulage insurance landlords insurance and truck insurance. Commercial Plan Insurance is a trading name of The Plan Group Ltd. The Plan Group Limited offers an extensive range of insurance products via specialist departments Plan Insurance, Commercial Plan Insurance, Chauffeur Plan Insurance and Trade Plan Insurance.
*NB – since this post date we have undergone a re-brand to update our image and our brand. The various sub-brand departments that were within Plan Insurance such as Taxi Plan, Commercial Plan, Trade plan etc. were brought together under the one name of Plan Insurance Brokers. Read more about our re-brand here.