Saw an article yesterday about how fleet insurance premiums are spiking again this year, apparently due to more tech in vehicles and higher repair costs. It’s getting kinda wild—some companies are even talking about self-insuring now. Anyone actually tried that? Or maybe found a way to keep rates from going through the roof? Curious if it’s just big fleets feeling the pinch or if smaller ones are getting hit too.
Rising premiums for business vehicle fleets—anyone else notice this?
Yeah, it’s not just the big guys getting hammered. Even smaller outfits are feeling it. I’ve got a buddy who runs a plumbing business with just five vans, and his renewal quote this year was almost double what he paid last year. He’s not adding Teslas or anything fancy—just regular work vans. The insurance company blamed “parts shortages” and “advanced safety systems.” Honestly, it feels like they’re just looking for any excuse to jack up the rates.
The tech in vehicles is supposed to make things safer, right? But now every little fender bender means you’re replacing sensors, cameras, and who knows what else. That stuff isn’t cheap. I get that repair costs are up, but it’s getting ridiculous. And don’t even get me started on the “self-insuring” idea. Unless you’ve got deep pockets and a stomach for risk, that’s a gamble most small businesses can’t take. One bad accident and you’re out of business.
I’ve heard some folks are trying to cut costs by installing dash cams and tracking devices to prove their drivers aren’t at fault in accidents, but even then, the savings aren’t huge. Maybe if you’ve got a spotless record, but one claim and it’s back to square one.
Honestly, it feels like we’re all just stuck paying more every year, no matter what we do. The insurance companies have us over a barrel, and they know it. If anyone’s actually found a way to keep rates reasonable without cutting corners or risking everything, I’d be surprised. For now, seems like we’re all just along for the ride... whether we like it or not.
I’m not running a business fleet, but even just insuring my own car has gotten more expensive every year. Last year, I bumped into a curb and messed up a sensor—cost more to fix than an old-school fender bender ever would’ve. It’s wild how the stuff that’s supposed to keep us safe is making everything pricier. I can’t even imagine what it’s like when you’ve got a whole row of vans to worry about. Feels like we’re all paying for tech whether we want it or not.
It’s wild, isn’t it? I’ve noticed the same thing with my own car—every little scrape or ding seems to cost double what it used to, just because of all the sensors and cameras packed into the bumpers. I get that the tech is supposed to make us safer, but sometimes it feels like we’re just paying for more stuff to break. My last repair bill for a parking sensor was almost as much as a set of new tires... kind of ridiculous.
But on the flip side, I will say that some of these features have saved me from bigger headaches. Adaptive cruise control and lane assist have probably kept me out of trouble more than once. Still, I totally get your frustration—insurance premiums are creeping up every year, and it’s not like we get a choice about all this extra tech. It’s a trade-off, but man, it stings when you see the bill.
But on the flip side, I will say that some of these features have saved me from bigger headaches. Adaptive cruise control and lane assist have probably kept me out of trouble more than once.
It’s funny, I used to think all the new safety tech would help bring premiums down, but it’s like the opposite happened. I get the benefits—lane assist saved my bacon once when I was zoning out—but man, the repair bills are brutal. Had a mirror with a blind spot sensor replaced last year, and it was almost a grand. I’ve started looking at higher deductibles just to keep the monthly cost manageable, but that’s a gamble too. Not sure there’s a real “hack” for this, unless you’re willing to drive older, less fancy vehicles... which isn’t always practical for a business fleet.
