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Vehicles

Using GPS Vehicle Tracking to Reduce Insurance Costs

While in the past, GPS vehicle trackers were more of a luxury than a necessity, this is not the case nowadays. It is almost a must-have technology in vehicles. This is especially the case for those automobiles that are to be driven by other people besides their owners.

GPS tracking systems help to monitor drivers, reduce fuel costs, trace the vehicle and driver when on the road, and enhance customer service. The tracking system also helps to cut insurance costs. The good news is that GPS trackers are affordable nowadays, and you can use them even when you have a single vehicle, not just when you own a fleet.

Below we discuss how GPS vehicle tracking can minimize your insurance costs:

Reduce the Probability of Claims Due to Vehicle Theft

Without a GPS tracker on your vehicle, it could take the police and other crime investigators many days to trace your vehicle if it gets stolen. In many incidents, the car is not recovered. The thieves could have driven it far and even beyond the borders of a country. In such events, the insurance companies have to pay huge sums of money as claims for the unrecovered vehicles.

However, if the lost automobile had a GPS tracking system installed on it, it becomes easy to trace its whereabouts and even recover it. The recovery process happens within a short period. Due to the high likelihood of getting back the lost vehicle, the insurance companies charge lower prices to insure vehicles fitted with this technology. Some insurers even make it a mandatory requirement for them to insure cars.

To enjoy low insurance costs and other benefits from GPS trackers and other innovations, you can check the products offered by Eyeride and contact them for the best deals.

Regular and Proper Maintenance Reduces Accidents

Most automobile accidents can be prevented by proper and frequent maintenance. Humans are bound to forget, but with a GPS tracking system that alerts the car owner, operator, or driver when it is time to go for regular maintenance services like tire rotation, oil change, and such, these accidents can be avoided.

Insurance companies will deem cars with GPS trackers as less likely to get involved in accidents due to tire blowouts or malfunctions from poor maintenance. This means that they will charge less to insure such cars.

Better Driving Behavior

As earlier mentioned, GPS systems for monitoring vehicles also help to keep a closer eye on the driver’s behavior while behind the wheel. Reckless and risky habits like aggressive braking, careless overtaking, negotiation of corners, and sudden acceleration are flagged off. The drivers may be warned and taken through training while the compliant and careful drivers may be rewarded to encourage good habits.

Drivers are also less likely to speed and involve themselves in other risky habits if they know that their every move is being monitored. All of these reduce the chances of accidents, implying lower insurance claims. As a result, insurers will tend to charge lower prices to cover company vehicles with GPS trackers.

Due to the above reasons, GPS vehicle tracking can help you to save on insurance costs due to the reduced possibility of accidents and vehicle losses happening. Vehicles fitted with this technology will also not be misused by drivers by going on personal errands with them, which presents higher risks of theft and accidents.

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