Fleet News

Car insurance premiums rise for two-fifths of UK businesses

Two-fifths of UK businesses have suffered from rising company car insurance premiums over the past 12 months, new research by TomTom Business Solutions has revealed.

Companies could be doing more to address the risk factors affecting premium costs, however, as the survey 71% of companies do not provide regular training for drivers.

Only 36% monitor driver performance as a means of assessing and reducing risk, with less than a quarter of those (22%) using technology to do so.

Giles Margerison, director UK & Ireland, TomTom Business Solutions, said: "Too often cars are viewed as an employee benefit rather than a place of work, so more can be done by businesses to improve safety, reduce collision rates and drive down the cost of insurance premiums.

"Initiatives such as regular staff communications, safety discussions, driver training and schemes for measuring and improving driver performance are powerful mechanisms for the reduction of road risk.”

The research also revealed that  81% those questioned include work-related road safety as part of their company's health and safety policy, but only 57% operate regular risk assessments across their vehicle fleets.

Furthermore, 39% do not have systems or procedures in place to manage driver fatigue and almost a quarter (24%) admit they are not fully aware of their exact requirements for managing road risk.

“Duty of Care can often be viewed as a complex issue but that does not need to be the case, especially given the variety of tools available to identify and manage risk factors," added Margerison.

"Fleet management technology, for example, provides access to a wealth of actionable data which allows management to quickly identify areas of risk and take action to implement best practice.”

 


Click here for fleet insurance best practice and procurement insight

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee