Armored car companies provide an invaluable service to businesses. They are the perfect way to transport money securely and efficiently to and from the bank to your business. Armored car companies are generally insured to cover any potential loss in the event of a robbery providing further peace of mind.
However, these services do come at a cost. There are several things you can do to help reduce these cost while still maintaining access to secure armored car transport. This article is going to address what an armored car company is and offer ways to help reduce their cost.
What is An Armored Car Company?
An armored car company is a type of courier service. They provide transportation of goods in a secure fashion to and from locations. Generally, they are used for high-value material and offer insurance in the event of theft or loss.
Armored car companies traditionally carry cash and currency equivalents to and from a financial institution. However, they can also transport goods like precious metals and jewelry. The types of material that are able to be transported vary by the armored car companies.
Who Needs An Armored Car Company The Most?
Companies that process large amounts of cash or deal with valuable merchandise utilize armored car transports the most. Generally, large franchises always use an armored car service to regularly transport their bank deposits and cash shipments.
Jewelry companies also frequently use armored car transports to transfer merchandise to and from various locations. The insurance policy of the armored car company provides the assurance needed that their valuable goods will reach the location securely and efficiently.
How Much Is Normally Spent On Armor Car Companies?
The fees associated with armored car transport vary wildly based on several factors. For example, things like pickup frequency, multi-location routes, the amount of cash, and the types of goods being transported can all impact pricing.
The average costs associated with a one-time pickup is around $10 a mile for most carriers. This is assuming the intended destination is located along an existing route. For cases where the intended destination is out of the way, an additional charge is likely to be assessed.
Seven Ways In Which You Can Reduce Armored Car Companies Spending
Thankfully, there are many different strategies to help you reduce the amount you spend on armored car companies. This section will detail some of the most efficient ways you can save on this expense.
1. Partner With Your Bank
First, check with your bank to see if they provide armored car pickup services. Many times, banks will offer complimentary pickup services for qualified accounts. If you do not qualify for free pickup, be sure to ask if you can qualify for a discounted rate for using the bank’s carrier.
2. Effectively Optimize Your Pickup Schedule
One of the greatest ways to reduce the costs associated with armored car companies is to optimize your existing pickup schedule. Ideally, you want to limit the amount of cash you have on hand to reduce the loss in the event of theft. However, you also want to limit excessive pickup dates when they are not needed.
Usually, you can optimize this schedule by taking into account your busy and slow seasons. Be sure to adjust your pickup schedule as your volume changes to avoid excessive trips. This will result in significant overall savings by eliminating non-productive trips.
3. Inquire About Multiple Stop Discounts
Many armored car companies provide discounts to customers who have multiple pickup locations along one route. If you have a business with multiple locations, then be sure to ask if your armored car company offers this type of discount.
4. Get Quotes From At Least Three Companies
Just like insurance, it pays to shop around with armored car companies. Before deciding on one, make sure to get quotes from at least two other competitors. Look at additional features like discounts, insurance cost, and holiday schedule when making your decision.
5. Monitor Loss Insurance
Insurance is important for securing your valuables during transportation. However, this cost can quickly begin to add up if you do not monitor it. It is important to adequately monitor how much cash your company regularly receives and sends to your bank.
Once you have this average, you can then agree to a sufficient insurance coverage amount. Any additional amount of insurance is wasted if your company is not regularly processing that amount of cash.
6. Consolidate Cash Deliveries
In addition to monitoring your pickups, cash deliveries are equally important. You want to achieve a healthy balance of maintaining appropriate cash reserves at your location with reducing excessive deliveries.
When possible, attempt to schedule your deliveries on the same date as your pickups. This will help to reduce the trip costs that armored car companies frequently charge.
7. Consider A Contract
Many times, armored car companies provide steep discounts in exchange for contracts with businesses. These contracts vary in length from six months to one year. However, they have the potential the offer significant savings compared to one time pickups.
When considering a contract, pay attention to important details like cancellation fees and missed courier processing. In addition, be sure to ask how frequently you can change your pickup schedule during the contract and if you can change your insurance amount as business changes.
Armored car companies provide secure transportation of goods to and from various locations. This is an important service for businesses that deal with large amounts of cash and valuable merchandise. Using the tips above, you can reduce the amount your business spends on armored car services. Afterward, you can work with your armored car company to create a pickup schedule that best fits your needs.
If you have had a great experience with an armored car company, then feel free to tell us about it in the comments below. Your feedback is always appreciated.
Images from depositphotos.com.