CamerasGPS Tracking

GPS Tracking Insurance Discounts

By August 21, 2019 No Comments

Get insurance discounts on vehicles by simply having a GPS tracking device installed in the vehicle.

Insurance Discounts

Utilizing GPS tracking within a fleet of vehicles can assist in getting insurance discounts. Being able to give insurance companies evidence of a vehicles location in tracking data not only helps fleet managers, but also the insurance companies. If a vehicle is involved in an accident, the insurance company can have real data to support or deny claims. With the addition of GPS tracking data is also the introduction of dash cameras. Not only can insurance companies receive the tracking data but having dash cams give them the visual element to paint the entire picture of what occurred.

These services also aide in improving driver behavior which contributes to lower premiums. Many accidents are caused by speeding and other reckless driving behaviors. GPS tracking can monitor speed, hard braking, fast acceleration, hard right and left turns. With driver scorecards, it’s easy to rank drivers on this behavior to see who needs more coaching. Also, when drivers are aware, they are being monitored they are less likely to speed and risk an accident.

Decrease Recovery Time

As well as this, GPS tracking increases recovery of stolen goods. Without GPS tracking, it often takes law enforcement weeks to track down a stolen vehicle. Often stolen goods are never recovered and in turn insurance companies must pay out a large claim. Having GPS installed can help to recover a vehicle, trailer, equipment, and/or assets quickly. Meaning less time spent searching for the vehicle, and less time spent following up on insurance claims to receive reimbursement.

GPS tracking also allows for cutting edge maintenance management. Maintaining proper maintenance prevents accidents. Vehicle mechanical malfunctions or a tire blowout can cause an accident. Fleet managers can notifications when it’s time to perform regular maintenance like oil changes and tire rotations, which decreases the chances of your vehicle being involved in an accident which can assist in gaining insurance discounts.

Discourage Misuse

Lastly, having gps tracking as well as dash cameras can discourage misuse of vehicles. The more vehicles are on the road the higher the chance of it being involved in an accident. Using after hour and landmark alerts make employees less likely to take the company vehicle out on a joy ride. It only takes a few minutes to call your insurance company to see if they offer an insurance discount.

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