UK & Ireland Insurance Services claims that commercial vehicle operators are paying over the odds for insurance as they are failing to introduce sufficient risk reduction measures.
James Wrynne, director of UK & Ireland Insurance Services, said: 'Responsible operators should be rewarded for their efforts to provide the correct level of security for the type of vehicles in their fleet and the type of load carried.
'They should ensure that keys are kept secure at all times and that rigorous driver recruitment and training policies are in place. More than half of all thefts are committed on the operator's own premises.
'Measures to secure premises, such as gates, lighting and CCTV are essential and can also reduce payments.'
Wrynne added: 'Operators who work with their insurers to devise strategies for risk assessment and reduction can effectively lower their annual premiums and save the money and inconvenience associated with vehicle theft.'