It’s tempting to grab the cheapest fleet insurance quote, but paying less upfront often means paying more overall, especially when you factor in the Total Cost of Insurance.
Most fleets will find that working with a low-cost, hands-off insurer will lead to rising hidden costs. You’ll face costs from:
- Excess Contributions: The amount you pay out-of-pocket for each claim, which adds up quickly.
- Claims Costs: Renewal costs rise when claims are reported or processed slowly, leading to spiralling expenses and a high loss ratio.
- VOR (Vehicle Off-Road) Time / Downtime: Lost revenue and added costs from sourcing and funding replacement vehicles when a unit is off the road.
- Driver Absence: Lost time, missed deliveries, and drops in customer satisfaction.
- Admin Burden: Hours spent managing incidents, chasing claims, and handling uninsured losses.
These hidden factors quickly turn a “cheap” policy into an expensive one.
Smarter Insurance for Safer Fleets
Flock is the fleet insurance product that helps fleets drive safer and crash less, coaching fleets to understand and reduce the hidden costs of insurance.
Fleets using Flock between 2023 and 2024 reduced claim frequency by 10% and claim costs by 8%.
Safety Insights that Prevent Claims
Reducing risk starts long before a claim is made.
The Flock Portal uses telematics data to provide fleet safety scores and driving insights, identifying risks like critical speeding before they become incidents. Fleet managers can track driver performance and loss ratio year-round, giving them full visibility and control of their fleet’s overall performance.
Each month, fleet managers attend targeted coaching sessions with Flock’s safety coaches. By focusing on high-impact behaviours and highlighting the best and worst-performing drivers, leading fleets have reduced crash frequency by more than 20%.
Pricing That Rewards Performance
Through Flock’s long-term agreement pricing model, fleets that drive safer are rewarded with lower rates year after year. As performance improves, premiums decrease, delivering genuine long-term savings. Fleets can also qualify for a 10%rebate for safe driving – the north star for every coaching session.
Safer Fleets Pay Less
Flock helps fleet managers take back control by reducing incidents, stabilising premiums, and finally revealing the true cost of insurance. With Flock, you avoid the trap where paying less upfront ultimately means spending more.
To find out more, visit flockcover.com.