Using a Virtual Fleet to Reduce Fleet Insurance Costs and Liability Risk

Larry Bernstein

June 2, 2023

Larry Bernstein

We are living in uncertain financial times. While we’ve managed to skirt a recession despite long-standing predictions, GDP growth is low, and the economy is stumbling. The inflation rate, down from its highs, is still nearly 5%, significantly higher than the Fed’s target rate. And the federal funds rate has been steadily rising, which impacts, among other things, business loans. The swirl of rising prices, elevated costs, and uncertainty lead businesses to crave stability. The cost of fleet insurance can be an area where business control expenses.

Fleet insurance costs have been rising for the past decade. The “per-mile insurance premium costs for commercial motor carriers have increased by almost 50%.” Companies can manage their fleet delivery insurance costs by using a virtual fleet. By using a virtual fleet for deliveries, companies get price stability and remove liability risk.

Fleet Insurance Expenses Are Rising Across All Industries

The rise in fleet insurance expenses is impacting all industries. Many ask when will the rise in expenses end. No one knows. The expenses insurance companies are liable for – such as fleet repair and claims - have also gone up. Every company is in a balancing act trying to manage finances. When the spiral that includes the costs fleet insurance companies must pay moderates, rates will follow.

Delivery and Logistics Demands Are Growing Rapidly

At the same time, fleet insurance expenses are increasing, companies are facing growing demand for delivery services. Demand for all things delivery is off its all-time pandemic-induced highs, but customers have become more accustomed to delivery and appreciate the service.

Expectations are that delivery will happen quickly and on demand. Customers don’t consider fleet costs and expenses. They expect the businesses they deal with to manage their delivery and logistics demands.

Insurance Claims Can Cause Rates to Spike to Unmanageable Levels

An increased need for drivers can lead to lower-quality employees who are more prone to accidents. However, even the best drivers can get into accidents. This is particularly so with the increasing number of delivery vehicles rushing to fulfill their customers’ demands.

Even one vehicular accident within your fleet leads to rising insurance rates. What if there are multiple accidents within a short time? Insurance rates could skyrocket to expense levels that threaten the viability of a business. Unfortunately, this scary scenario is not far-fetched. Business owners don’t have to be held back by this possibility. A virtual fleet, like Curri, allows you to hit the reset button and get control of costs.


Here’s How Curri Can Help

Outsourcing delivery to Curri allows you to continue to offer your customers this valued service while maintaining price certainty. Worries about insurance, liability, and other expenses are no longer your problem. When you make Curri your virtual fleet, you get a reliable delivery service and eliminate the worry about day-to-day costs.


Outsource your fleet liability

Every delivery that your fleet makes can turn into an issue. And your company is liable. If an accident occurs that the insurance company deems your delivery driver is at fault, your insurance costs will rise. Minor accident, major accident – doesn’t matter. Even accidents in which the delivery driver is not deemed liable could impact insurance costs.

Ugh, the stress.

By outsourcing your fleet to Curri, you no longer have to worry about a fleet, insurance, liability, etc. Instead, you can celebrate each sale and ensure you are servicing your customer.

Cut fleet insurance costs

The smaller the fleet, the lower your insurance costs. It’s simple. You can use Curri for all your delivery needs, or some fraction of them. It’s your choice as we work with you to find a solution for your delivery needs. Your insurance costs will decrease however much you use Curri and correspondingly reduce your fleet. You can plow the savings from insurance costs into other business expenses that may have been shortchanged due to limited funds.

Reduce operating expenses

Insurance costs for your fleet are a regular operating expense. Regardless of how busy or slow you are in terms of delivery, insurance costs for your fleet don’t change (presuming you don’t increase or decrease the fleet) over the course of a year. Stubborn operating costs can be crippling during challenging times.

You can work with Curri for delivery as you need them. So, delivery costs will be a more accurate depiction of the business level. Operating costs are reduced.

Solve staffing problems

The shortage of drivers has been well-documented. Staffing, in general, has also been a challenge. Besides staffing a delivery team, staff are needed to manage the team. And what if a driver calls out last minute? By employing Curri, you can cut out these staff layers and reduce payroll. You only pay for drivers when you need them.

We have drivers across the country available Monday-Saturday during business hours. Our drivers have been screened and trained. They will make the delivery and provide a snapshot as proof.

Upgrade your logistics

Maybe you handle delivery on a case-by-case basis. A delivery is needed, and a driver is found. Perhaps, you have a more formal system. To truly manage the logistics related to delivery can be time-consuming and expensive. Yet, it’s necessary to track inventory and offer top-notch customer service.

Curri’s high-level logistics system helps you manage your inventory. Our system offers you real-time updates on the whereabouts of your materials. This helps resolve issues quickly and reduce delivery costs. It also allows you to focus on your business.

Actual delivery on the same day 

These days same-day delivery is table stakes. Call it the Amazon effect. The stakes have been raised, and if you don’t offer same-day delivery, customers might very well take their business elsewhere. This expectation puts pressure on your fleet. You have to be ready to deliver. Customers are counting on your promise of same-day delivery and are not interested in ‘legitimate’ reasons why delivery was delayed.

Curri helps you manage deliveries and ensure the fleet is always available when you say it is. Customers appreciate it when companies deliver on their promises.

Logistics That Delivers, from SMB to Enterprise

Whether you’re an enterprise business or an SMB, Curri’s virtual fleet helps with delivery. During these challenging times when businesses of all sizes are striving to reduce costs and minimize liability, Curri allows you to do so.

Learn more about how Curri can help you manage your costs.

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