When selecting fleet insurance, it’s essential to ensure the policy aligns with your business’s specific risk profile and appetite. A well-structured policy helps protect your fleet, saving time, decreasing cost per Kilometre, and increasing operational efficiency while ALSO unlocking stable long-term growth. All of these are part of a non-exhaustive list of the significant potential that lies in making great choices early on or corrective action as soon as it’s feasible to do so.
Key factors to consider when choosing the right fleet insurance:
1. Efficient Claims Processing.
The effectiveness of your insurer/broker’s claims process is critical to minimising downtime and keeping your fleet’s wheels on the road. A streamlined and efficient transfer of responsibility during a claimable event, supported by clear communication between you, your broker, and the insurer, ensures your coverage and processing protocols react efficiently and without unnecessary delay. Ensuring that your operation maintains a smooth and reliable flow of communication together with the management of SLAs is key to increasing business profitability and meeting your deadlines. At Wyngaardt Brokers, we manage our own software and data management systems to facilitate a reliable single source of true information with which we hold all stakeholders accountable to their agreed-upon timelines and responsibilities.
2. Premiums, Excesses, Exclusions.
Make no mistake, the premium is important, but it should not be the sole driver behind your decision-making when taking up your insurance policy. Often in the pursuit of efficiency, clients opt in for higher excesses and repair their vehicles up until a certain incident and severity level or cost. This in-house repair is usually a result of opting in to reduce premium and overcoming the inefficiency of outdated systems that often retard and frustrate the repair process. This in-house repair however also comes with its labour, part sourcing, transportation, management, quality control, liability, and downtime headaches.
Insurers can also balance their profitability (and your premium cost) by excluding certain elements of cover and increasing excesses during events and times of day (or night) that have an increased propensity for higher severity and frequency of claims. It’s very important to have an in-depth understanding of how these benefits (absence thereof) affect your business operations, where there is an opportunity cost associated with better management of the claims process or what the true profitability calculation looks like when factoring in as many of the variables the business and brokers can predict.
Wyngaardt Brokers can chaperone you over all these hurdles and more to help you balance a portfolio that works and is framed around your business, your operations, and your goals.
3. Roadside Assistance, Wreckage Removal and Environmental Damage.
Fleet operations depend on minimising downtime in the event of an incident and then expediting the repair process to get wheels back on the road as soon as possible. Looking for a policy that provides 24/7 roadside assistance can ensure that help is available quickly and with minimal effort when you need it most. Additionally, it’s important to have coverage for wreckage removal and environmental liability to reduce the financial burden associated with cleaning up after an accident or the loss of a load while in transit. Working with Wyngaardt Brokers can ensure that your policy includes cover for a variety of products and benefits tailored to your specific needs.
4. Towing Cover, Approved Repairers & Storage
Towing and storage costs can accumulate rapidly after an accident. Your policy should cover these expenses to help control costs and ensure that your vehicles are promptly taken to the nearest approved repairer or storage facility. Enquiring about the approved repairers that your policy/insurer offers in your high severity/frequency areas and close to the vehicle yard or vehicle maintenance centers significantly reduces unknowns and increases feedback and transit loops. Wyngaardt Brokers can potentially improve the immediacy, service level agreements, and quality of service received by the repairer so that your operations stay up to speed, and on track, avoid comebacks, and meet an excellent standard.
5. Vehicle Accessories & Spare Parts
To keep your fleet running efficiently in the event of an incident, it’s important to have coverage for vehicle accessories and spare parts such as tires and auxiliary batteries as well as those needed for typical accidents and mechanical repairs. This ensures that, in the event of damage or theft, high-quality replacements can be sourced quickly and paid for with ease. Having access to cost-effective suppliers, allows you to maintain operational efficiency and reduce the likelihood of repeated incidents. Another helpful option is enrolling in a national OEM supplier program, which enables centralised ordering and payment for parts across the country. Partner with Wyngaardt Brokers to get access to our trusted network of service providers and suppliers.
6. Liability/Third-party Insurance
Third-party claims arising from accidents can be unexpectedly costly, having Third-party Legal Liability coverage is critical to reducing variable costs in the event of multi-vehicle accidents and collisions. Keeping your business protected if your fleet assets /drivers cause damage or injury to third-party property or people is responsible and advised. Wyngaardt Brokers can offer guidance to finding policies that offer robust liability protection, safeguarding your operations from expensive third-party claims, and allowing the insurer to take responsibility through subrogation for costly litigation and legal representation.
7. Cross-Border Coverage and Repatriation
If your fleet operates outside of South Africa or crosses borders, it’s essential to confirm that your insurance policy offers cross-border coverage for the areas in which the fleet operates. This coverage ensures that your fleet remains protected no matter where it operates, mitigating the risks associated with international transportation and financing costly repatriation costs for repair or sale of salvage.
More affordable fleet insurance is often linked to safe driving behaviour, with insurers offering incentives to fleet owners who demonstrate safer driving practices through telematics, driver training, initiatives, and prioritisation of driver wellness. This can result in lower premiums and reduced accidents and their severity.
Choosing the right fleet insurance requires careful consideration of these factors. Partnering with Wyngaardt Brokers can provide you with a well-tailored policy that suits your business’s needs and places your business goals as our first priority, helping to minimise risk, save on costs, and keep your fleet running smoothly.
Learn more about Wyngaardt Brokers and our services at
Wyngaardt Brokers (Pty) Ltd is an Authorised Financial Services Provider (FSP 53138).
Disclaimer: The information provided is not intended to be a substitute for legal, medical, or financial advice, but is only provided for informational purposes. Ts and Cs, limits, and standard rates apply.
