Fleet Insurance: What To Consider When Choosing And Managing Vehicles for Your Business

A company cannot be considered a fleet without its vehicles. This is why vehicle procurement is one of the most critical responsibilities of a fleet owner. Choosing which vehicles to add to your fleet can spell the difference between the success and failure of your business.

If you are just starting and don’t know which vehicle makes and models make good fleet vehicles, here are a few hints and tips on vehicle procurement and management.

Factors You Should Consider When Choosing Vehicles

Whether you’re looking for your first-ever vehicle or want to add more vehicles to your fleet, the attributes and characteristics of what makes a vehicle a perfect addition to your fleet should remain the same.

Cost

Cost is a huge factor for fleet managers, especially those who are just starting. If your business hasn’t seen any significant success yet, you might be tempted to find the cheapest vehicles for your fleet. After all, it’s better than nothing, right?

Compromising everything else in favor of cost is never the right way to go, especially since there are many other options available to newcomers in the industry. For one, you can choose to rent vehicles if you don’t have the budget to purchase your own. Several third-party companies offer vehicle leasing services to those who want to start their fleet but don’t have money to purchase their vehicles.

Don’t just settle for the cheapest vehicle out there. Remember that when you’re starting, vehicle efficiency, safety, and durability are even more critical. You don’t want to gain a reputation for being a fleet with vehicles that are time bombs or road hazards.

Purpose and Workload

When it comes to purchasing vehicles, purpose and workload should come first above all else. Some may say you can’t afford to be choosy if you’re on a budget and just starting, but imagine spending money on a vehicle that won’t be of much use to your fleet simply because the purpose of that vehicle is different from your industry. For example, how can you run a respectable pest extermination service if all you have are motorcycles?

When it comes to purpose, here are the primary considerations you need to keep in mind:

• Safety – If your industry is public transportation like taxis or buses, you need vehicles known for their safety features.
• Space – Pest extermination, landscaping, gardening, and steam cleaning services use many tools and equipment. If you’re in this industry, get vehicles with a lot of room for storing tools of the trade.
• Durability – If you’re in an industry with a lot of foot traffic and require vehicles to be on the road most of the time, choose vehicles known for their durability and longevity.

Vehicle Management: What Comes Next After Procurement?

Once you have your vehicles, your next agenda is to manage them properly. To ensure that all vehicle acquisitions become major assets to the company, you need to have the following as a regular part of your company policies:

• Regular preventive maintenance for all your vehicles
• A suitable vehicle insurance plan for your entire fleet
• Installing telematics like GPS tracking so you can manage your fleet remotely. (Rideshur is a company that’s innovating telematics fleet insurance and are worth a look.)

Your vehicles are one of your most important assets in the company, so it’s only fair that any vehicle-related decisions are made with much research and critical thinking. It all starts with choosing vehicles that complement your particular industry. The rest depends on how well you care for your vehicles so that you get a return on your investment, and then some.