How to get GPS Tracking Insurance Discounts
GPS Tracking is not one of those nice to have accessories in your car. It’s now a necessity that all vehicles should have. GPS tracking devices, systems, and the whole technology has never been this affordable and easy to install and use. Small and big businesses are now in constant look for the best GPS tracking systems that can help lower auto-insurance costs.
Why insurance companies love GPS tracking systems
Insurance companies encourage safer driving; they want to reduce their overall expenses in compensations and legal proceedings. Consequently, they encourage every individual or business to have a GPS tracking system installed on their vehicles. Most insurers offer discounts up to 15% off the insurance costs for just implementing GPS tracking solutions by GPS Leaders.
In a few instances, the insurance company will even pay you to install GPS tracking technology on your business vehicles. If this is what you’ve been looking for, read below for the practical ways that GPS tracking helps you get GPS tracking Insurance discounts.
Low chances of claims due to vehicle theft
GPS tracking makes it very easy for the police to recover stolen vehicles, which reduces insurance claims. Without GPS tracking technology, most stolen vehicles are never recovered, which now means more costs to the insurer and the insured. The insurance company is very likely to pay a huge claim, which could obviously be avoided by installing GPS tracking Insurance Discount Devices by GPS Leaders.
Proper maintenance to reduce instances of accidents
GPS tracking technology informs the owner when it’s time for maintenance. This highly drops instances of accidents and vehicle malfunction. A car suffering a mechanical malfunction is in an increased risk of causing an accident. This accident can attract large claim payments from the insurance company. Installing GPS tracking systems from GPS leaders helps you secure up to 30% discount on your car insurance premiums. The GPS tracking Insurance discount amount depends on your provider, but most providers give an average discount on the insurance of between 10% – 30%. Check on GPS Leaders to view eligible insurance providers.
Insurance cost-saver considerations
When your car is getting insured, there are a couple of considerations that your provider takes into account before developing a quote for a full coverage insurance policy. Some of the considerations include age and the properties you have insured with the provider and any previous claims or accidents. The provider is also forced to consider whether you have an active potential theft recovery GPS tracking device in the car.
In many instances, the cost of purchasing GPS tracking devices for your business vehicles is around $300, which can be quickly recovered by the Insurance discount. Remember, a GPS tracking device is a once-off cost.
Thinking of the insurance excess on the policy, you will realize that one claim will be more than the cost of buying and installing GPS tracking devices. This means that even if the GPS tracking system saves you once, it pays itself twice; the first time is on not making a claim because the vehicle is recovered, and the other one is on reduced insurance premium.