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The start point for the best source of fleet information |
The fleet industry is no stranger to constant change and developments, whether that be insurance premiums rising, to the rapid increase of fuel prices and vehicle maintenance, and steady advancements in technology that fleet managers are adapting to and implementing into their strategy. With little more than a few months to go until 2024, now is the time to start thinking about how to prepare for what is in store for the industry next year.
It's no question that fuel prices have been near the top of the priority list for fleets over the past few years. Just last month it was reported that drivers across our roads have been affected with one of the largest spikes in 23 years, with diesel shooting from an average cost of 146.36p to 154.37p over the month of August. Since then, the price of oil has hit its highest price of the year, a rise which will eventually be felt at the pump. It's hard to predict how prices will end up by next January, but with fast up and slow down policies any impact will be felt for a significant amount of time.
There are actions that can be taken to save on fuel, especially as the seasons change. Use heating and air conditioning sparingly, wrapping up warm in winter and rolling down the window at low speeds during the warmer months bode well. Double checking tyre pressure and the use of correct engine oil before your fleets hit the road in 2024, will help things run more efficiently. Make sure that your drivers aren't carrying around kilos of extra, unnecessary, weight in their vehicles, the kind that accumulates throughout the year. It's time for an autumn clean out.
Running a fleet is no easy task, and nothing matters more than driver and vehicle safety. As insurance premiums have gone up to 16% this year and could jump up again in Q1 of 2024,
it is becoming more and more costly to do this effectively. While shopping around is key, there are ways to cut these growing costs.
Using certain technologies across your fleet can save you a lot on your insurance when an accident occurs. Technology such as dash cams, black boxes and telematics can bring down premiums, and as the cost of these have gone down as the cost of insurance continues to rise, therefore making the initial investment better value than ever before.
Crash-for-cash scams are on the increase and have become a prevalent issue for business and fleet drivers. Reports from the Insurance Fraud Bureau (IFB) found that 2,250 people have been victim to this form of scam over the past two years.
In the case of a fraudulent claim being made against a fleet vehicle or driver, legal actions should be pursued. However, there are options available that will help you can avoid crash-for-cash incidents entirely. Providing drivers with scenario-based training before they embark on journeys can help with awareness of the signs that an incident can occur before fraudulent motorists attempt to take advantage of the situation. Making use of technology in the vehicle itself can help monitor drivers on their journeys, help detect any unusual behaviour and the driving patterns of other motorists. Crucially, video footage can be key to proving that the claim is a scam rather than a legitimate crash.
Each of these will need careful planning but now is also time to think about plans for growth, hiring, upgrading vehicles, or, perhaps, finally making the step to an electric fleet. Approaching the new year, it's valuable to all fleets to get a head start to alleviate some of the financial impacts and provide support to your drivers in any way possible, as they say, prepare for the worst, hope for the best.
Richard Peak is director of Nextbase
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