If you are a business owner and you have several company vehicles to maintain, every peso saved really matters. With the cost of operating the business itself, rental space, and employee wages, money that you can save from your company vehicles and commercial insurance can definitely go a long way. Here are some practical, money saving tips which will financially help your business in the long run.
Be a Sensible Driver
You may think that driving like a race car driver makes you look cool and badass, but every time you speed up, accelerate, or brake hard, you are wasting precious and expensive fuel. Aggressive driving on highways can reduce your gas mileage. In case you didn’t know, gas mileage starts to decrease when you hit 80 km/h. Try to keep within the speed limit whether you’re driving on open country roads or city streets. Also be mindful about your braking. When you see that there’s a red light up ahead, coast instead of stepping on the brakes at the last second. Anticipate the stop and slow down smoothly. Not only does this help conserve fuel, it also makes the trip pleasant to your passenger.
Instead of Idling, Turn The Ignition Off
In a country such as ours where there’s more idle time than actual speeding or accelerating, that means hundreds, even thousands, of pesos wasted on zero mileage. If you’re stuck in a really awful traffic jam, just turn off the engine. Take quicker routes with lesser traffic congestion. This one is quite a challenge, though, because there’s traffic everywhere, every time. What you can do instead is to plan ahead, leave early, and check traffic apps to alert you of bad traffic situations.
Check Your Tire Pressure Regularly
Did you know that properly inflated tires can help improve gas mileage by up to 3%? Make sure that your tires are inflated properly to protect your tires and lengthen the life of your suspension system. Do a weekly check on your tires to make sure that they have the right pressure. Every 10,000 kilometers, perform a tire rotation on all of your front and back tires to avoid uneven tearing. There’s also less chance of a tire blowout when your tires have the correct tire pressure. A tire blowing out on you is not only costly but dangerous and life-threatening, too.
Save on Auto Repairs by Doing Preventive Maintenance
Looking after your vehicles can help boost fuel economy, not to mention it can also contribute to the longevity and safety of your vehicles. When you have a properly maintained vehicle, gas mileage is improved. Your vehicle runs more smoothly and combusts fuel more efficiently. You can also save more on repairs by knowing the best type of fuel to use on them.
Evaluate Your Fleet and Your Drivers
When getting an auto insurance in Philippines for your vehicles, you should also evaluate and identify the kind of drivers you have under your employ. Insurance companies usually base premiums and quotations on your driver’s driving histories. When they have a clean record and did not claim or get involved in any accident, you can enjoy a lower premium on your vehicles.
Most insurance companies will also provide discounts if your drivers are licensed commercially. Also consider that with personal car insurance, the more expensive the car, the higher the premium. Older vehicles will command higher premiums. If you are planning on purchasing new company vehicles, you can consult your insurance agent first and check how much it will cost to insure these new vehicles.
Find the right insurance company that will be able to meet your needs and requirements. Shop around and compare rates before deciding to get insurance coverage for your vehicles. Do your research and do a background check on the insurance company. Make sure that they are accredited and financially stable.
Follow these helpful tips and make sure that you communicate them clearly to your personnel. Perform a weekly or monthly plan, or better yet, create an incentive program that will encourage your employees to be better drivers. Being more efficient on their job while taking good care of the company’s assets will definitely pay off sooner, rather than later.
This article is contributed by iMoney Philippines, the premier financial comparison website for updated and reliable information on financial products such as credit cards, personal and housing loans, and more. Easily access information, compare and apply online in just a few clicks.