We recently published a guide to fleet risk managements and assessments. This guide outlined some of the common risks that fleets face, while exploring how a risk management strategy can help you address these risks.
In this post we’ll discuss how you can evidence your HGV risk management processes, and how this may help you make savings on your fleet insurance.
For more information on how we can help you and your fleet, get in touch with us on 020 8290 9099 or email us at commercial.motor@anthonyjones.com.
The Benefits of Evidencing Your Fleet Risk Management Processes
If you can demonstrate your fleet risk management processes to your insurer, then it may help to bring down the cost of your cover.
A strategic approach to risk management can make breakdowns and accidents less likely. This means you’ll be less likely to make a claim on your policy, which means your insurer will be less likely to have to make a payout.
So good risk management can help your insurer save money, and in turn they may charge you less for cover.
How To Evidence Your Risk Management Process: Key Documents
- Risk Management Policy – A risk management policy document might identify every risk your fleet faces, while assessing each risk for likelihood and severity. It will also outline the steps you will take to manage these risks, and define who’s responsible for taking these steps.
- Driver Induction Documents – These may demonstrate how effectively you communicate your risk management policy with your drivers, while training logs will demonstrate how regularly you prime your drivers to understand and manage risks.
- Maintenance Records – These will demonstrate how you keep on top of your truck maintenance schedules, and how they help you spot potential issues as early as possible.
- Incident Reports – When something does go wrong, an incident report will demonstrate how you responded to the issue, and the steps you took to prevent it from happening again.
How to Evidence Your Compliance
Insurers may also want to see how you comply with all relevant regulations:
- Staff Handbooks – These should outline your drivers’ working hours, including any special rules for driving at night. They should also instruct staff on how to use their tachographs, so that both drivers and their managers can keep tabs on driving hours and other aspects of driver behaviour.
- Health and Safety Policy – This should list the various health and safety risks that exist throughout your fleet, while outlining the steps staff should take to manage these risks. This will demonstrate your compliance with relevant HSE regulations.
- DVSA Standard Compliance – At the very least, you should be able to evidence valid driving licences for every driver in your fleet. You should also find a way to evidence how you help your drivers stay on top of their ongoing Driver CPC training. Each driver will need to complete 35 hours of training every five years. Do you track this? And what steps do you take to ensure that every driver in your fleet stays compliant?
Other Ways To Evidence Your HGV Risk Management Processes to Your Insurance Company
- Share Your Data – Share data from your tachographs to demonstrate how your drivers behave on the road. And share telematic data from your fleet management software to show how you monitor driver behaviour, and how you respond to any potential issues.
- Share Your Trends – If you’re monitoring your maintenance costs, fuel costs, total downtime, and the number of reported accidents and incidents, then you may be able to show your insurer how these trends have changed over time. This may prove that your approach to risk management is working.
We Can Help You Save Money On The Cost of Fleet Insurance
Our team of fleet risk experts will help you understand the specific risks your fleet takes, and how you can manage and mitigate them. We can also show you how you can effectively evidence your risk management processes in order to save money on the cost of cover.
And as experienced insurance brokers, we can help you get the comprehensive fleet insurance cover you need at a competitive price.
For more information on how we can help you and your fleet, get in touch with us on 020 8290 9099 or email us at commercial.motor@anthonyjones.com.
