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Heavy Truck Insurance
How would your business be impacted if you could augment your prices and your turnover and reduce costs all at the same time? These three areas are without question the business trinity that all successful business owners struggle to attain. The real question is not whether you would like to implement these changes but the strategy you would put into practice to achieve this.
Start off by becoming fleet savvy when running a business fleet – Heavy Truck will fall into this category, so start off by finding ways to reduce costs on your fleet insurance as a whole.
Most companies today realise the value of logistics, however of equal importance is the fact that logistics does not operate in a bubble. Transport, supply chain management and a host of different areas of business need to work together which means that managers need to understand how to run a fleet successfully and how best to cut their insurance costs.
To avoid nasty knocks to your cash flow, it is wise to opt for an extended warranty and a vehicle/fleet maintenance plan.
How to get your Heavy Truck wheels to work for you, without sapping your cash reserves:
- The good news is that commercial vehicles are classified as business tools by SARS and therefore are tax deductable. However they are also rather rapidly depreciating assets – for example, a new truck will lose up to 20% of its original value in 12 months, which means every step must be taken to help retain as much release value as possible with all fleet vehicles.
- This can be achieved by sticking religiously to the service and maintenance schedules as specified by the vehicle dealer from whom you bought the vehicle.
- If you are buying a number of vehicles you qualify for fleet discounts from the vehicle supplier and the insurance company.
Should you be planning to take out cover for your fleet, ask your insurance provider what they would like from you in order to reduce your Heavy Truck insurance premiums every month.