Five Ways to Reduce Your Pick-up Truck Premiums

Soaring insurance premiums have affected people from all walks of life over recent years, from younger and older motorists through to drivers that use vehicles for business. No matter what sort of vehicle you drive for business – whether it is a car, a van or a commercial truck – you will find that the cost of premiums can be crippling unless you take the time to try and reduce these costs.

Vehicle Insurance

Vehicle Insurance

Luckily, recent data has shown that the cost of vehicle insurance has started to fall due to a crackdown on insurance-related fraud. This will help to bring the cost of coverage down for both general and business drivers. However, there are also other steps that you can take in order to bring down the cost of your cover.

Five tips for reducing insurance premiums on your commercial pick-up truck

Reducing outgoings is vital for any business these days, and one way in which you can do this is to cut the cost of services – including insurance. Some tips that could help you to cut the cost of insurance premiums for your commercial pick-up include the following.

  • Take advantage of the competition: The world of commercial vehicle insurance is a very competitive these days and this is something you should aim to take advantage of. One way in which insurance firms will try to take a larger slice of the market is by offering special deals – so make sure you compare costs from a number of insurance companies so that you can find and take advantage of these special deals and prices.
  • Make your pick-up more secure:  The more security you have on your pick-up, the more it reduces the risk of theft, damage and claims. This in turn will reduce the risk for insurance companies and will be reflected in the amount that they charge you. So, look at the different types of security that may be suitable for your vehicle and invest some time and money in making your vehicle as secure and safe as possible. Ideally, your pick-up will have a good alarm and immobiliser already fitted, but if not, you can install these at a later date and in the long run, you could save on the cost of insurance.
  • Choose a pick-up that is cheaper to insure: If you have not yet purchased a pick-up for your business, it is well worth noting that the cost of insurance cover can vary based on the make and model you buy. The cost of insuring a smaller pick-up tends to be lower than the cost of insuring a larger pick-up of the same age and condition. So, when you are looking at different pick-ups for your business, take a little extra time to consider the cost of insurance for each one.
  • Park securely: As is the case with any vehicle, your insurance costs can be affected by where you park your vehicle. So, if you park your pick-up on a main road overnight it will pose a higher risk when it comes to theft, damage and claims. This means your insurance will be higher. However, if it is parked in a garage, a lockup or even your drive, this reduces the risks and can also reduce the premiums.
  • Consider who will be driving: You should remember that the cost of coverage for younger drivers is higher than that for drivers aged over 25. If you have a business pick-up and intend to get one of your employees to drive it, consider the age of the employees you are thinking of using. If you have a choice of employees, it may be better to opt for the older person, providing he or she has a clean driving licence, as this could work out cheaper.

All of these considerations could help to bring down the cost of your insurance premiums, making it cheaper and more viable for you to run your commercial pick-up.

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