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7 QUESTIONS TO MAKE REVIEWING YOUR VEHICLE POLICY EASY

Posted on January 15, 2019

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While it might not be at the top of your to do list, an annual vehicle policy review can save you money, save you time and make sure that the image you're putting out to your customers is the right one for your business. But it doesn't have to be hard and time-consuming. So, we've put together these 7 questions to make reviewing your vehicle policy easy and hassle-free…


DO THE CARS YOU HAVE STILL PRESENT THE RIGHT IMAGE FOR YOUR COMPANY?

As your business grows you may find that the company cars that once suited you, no

longer represent your business as they should.

Is it time for an upgrade?

Would your image benefit from a nicer, smarter or even more economical vehicle?

Never underestimate the impact of a first impression. In business, image can make or break a sale.

ARE YOUR CURRENT CARS STILL THE RIGHT FINANCIAL SOLUTION FOR YOUR BUSINESS?

Different cars offer different pros and cons.

As an example, diesel vehicles are more

fuel effcient for high mileage drivers but cost more in company taxes. As the government are regularly changing the company car tax rates it's important to review them every year.

Are you still doing lots of miles? Have your circumstances changed? As your company progresses your needs may change, so be sure to ask yourself if the vehicles you are currently running are still the best choice financially.

IS A COMPANY CAR STILL A GOOD PERK FOR YOUR STAFF?

Long gone are the days that a company car was a definite perk of the job. Thanks to government taxes, having a company car can sometimes cost your staff more than it's worth. Be sure to check the numbers each year and discuss it with your team

to make sure that a company car is still the best solution.

ARE YOUR STAFF'S DRIVING LICENCE CHECKS UP TO DATE?

It's essential that you regularly check your driver's licences for endorsements, bans or driving offences. For most drivers once a year will be adequate, but if you have any high-risk drivers on your team then you'll need to do it much more frequently to ensure they are legal and keep your company protected.

ARE YOUR CURRENT SUPPLIERS STILL THE BEST ONES FOR YOUR NEEDS?

As your needs change you might find that the suppliers that were once the perfect solution for you, no longer meet your needs. By checking your current suppliers and comparing the options available to you from their competitors, you'll be able to ensure that you are getting the best service for your business at a competitive price.

SHOULD YOU BE OUTSOURCING MORE?

Are you outsourcing enough of your fleet management or maintenance? Outsourcing can save you a ton of time, hassle and money. By outsourcing your vehicle maintenance you'll be able to stabilise your cashflow,

get better rates on your servicing and keep your time free to focus on the other important things in your business.

ARE YOU GETTING THE BEST DEAL ON YOUR INSURANCE?

Your insurance should be assessed each year and new quotes undertaken to ensure you're getting the best cover at the best rate. At Concept, we recommend using a broker to help you. They'll not only save you time on shopping around but they often have access to better deals too. If your insurance isn't due for renewal just now, schedule a time in your calendar to assess it before it rollsover.

If you don't have a written vehicle policy then now is the time to create one. We've made this super easy for you with our free policy template document. Just CLICK HERE to download it today