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Reasons Why Insurance Companies Love GPS Tracking

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A GPS car tracking device is now an essential component of corporate vehicles. Today’s technology for tracking are inexpensive and simple to set up, making it simpler for small-scale businesses to install the tracking system. Here are some advantages GPS tracking provides:

Reduce unauthorized vehicle use
Reduce and control the cost of fuel
It is easy to organize, manage and optimize the route stops (job delivery, job, etc.)
Monitor the fleet’s activity and back office dispatchers
Increase security of vehicles (or recovering stolen vehicles)
Automated reporting of mileage the hours of operation or driving hours as well as time spent at work location


Five reason why the companies of insurance are enthralled by GPS tracking

In addition to improving the efficiency of your company with tools for maintenance of vehicles and driver control Fleet GPS tracking can also protect your fleet from theft. Another advantage of GPS tracking is when drivers are aware that there are GPS tracking devices installed on your vehicles, research has shown that they behave more safely. The tools to maintain your vehicle which come with GPS tracking can help ensure that your fleet is efficient and secure on the road and also. Insurance companies offer discounts to fleet managers who utilize GPS tracking for their vehicles to help with these issues. Major insurers often offer discounts as high as 30 percent off the cost of insurance for businesses who implement tracking systems.

Certain insurers might even pay for you to install GPS tracking technologies for your fleet. To understand the context and find out the reasons why insurance companies care about GPS tracking, think about these five benefits GPS tracking reduces the cost of commercial auto insurance:

1. The use of GPS reduces the risk of having claims resulting from theft of vehicles

Installing an recovery tracker, such as the fleet management tracking device it will increase the chance of regaining your vehicle in the event of theft. Making this additional protection against theft will reduce your insurance costs.

The majority of drivers use GPS which is also known as a Global Positioning System, to be directed from one location to another the next location. Commercial tracking GPS as well as providing navigational capability, also permits companies to monitor their fleet and then send the information to a central tracking site in real-time. In the event that your cars are fitted with a telematics device that includes GPS tracking, these fleet vehicles can be easily monitored in the event of theft, enhancing the efficiency and speed of recovering the vehicle that was stolen. Without GPS tracking, it could take police weeks to track for stolen vehicles. In the majority of instances, the vehicle is not found which is why the company has to pay for a substantial claim. This is the reason why many insurance companies offer discounts for anti-theft devices. Enhancing the ability of a company to prevent theft and to recover stolen vehicles will lower the cost of insurance.

2. Utilizing GPS tracking tools in your vehicles can result in improved driving habits

Drivers who know that they’re closely monitored by GPS tracking devices are more secure drivers. Data from your fleet’s telematics vehicles about speeding, fast acceleration, braking that is harsh, and sharp turns are transmitted to insurance companies. The insurers can use this information to instruct your drivers to be safer in their behavior when driving. This will lower insurance costs and also decreasing the cost of fuel. According to Forbes the insured drivers who use GPS vehicle tracking are involved in less accidents, which is a reduction of 20 percent according to some estimates.

The ability to equip your cars with GPS devices will increase safety of drivers, enhance the behavior of drivers and decrease the costs of insurance because of it.

3. The GPS tracking of your vehicles deters the misuse of your trucks’ fleet

The use of the GPS tracking device is also a way to discourage employees from making use of company vehicles for personal use. If they know that their vehicle or truck is being watched for its location and the miles traveled by the driver, they will be more vigilant about when and where they use their company car. Insurance companies know that the more frequently a vehicle drives, the greater likelihood of any kind of accident. This is why GPS utilization lowers insurance premiums as well as fuel expenses.

4. GPS tracking tools promote prompt and efficient maintenance of vehicles.

With GPS tracking, you can monitor regular maintenance of fleet vehicles using the tool known as Service Report. Vehicle maintenance can be anticipated by this technology, which provides owners of fleets with the extra maintenance tool. A vehicle that has the blowout of a tire or any other mechanical issue will be more likely be the cause of an accident. GPS tracking provides real-time alerts when maintenance is needed, helping to avoid these types of events. When you use Service Report, your phone is notified by text message that tells you that it’s time for car maintenance such as maintenance on tires and oil.

For businesses with larger fleets they may be notified that your fleet has several trucks that are due for maintenance in the next 30 days. Your fleet is more manageable thanks to the quality control information provided by a GPS telematics system.

Any vehicle that is monitored in real-time is significantly more safe. By taking this proactive step, you will lower the cost of insurance for all your fleets. Many insurance companies offer discount plans to businesses who use this technology for tracking vehicles using telematics which is a win-win situation both for the company and the insurance company. Additionally the majority of vehicles tracking systems can secure car and truck doors. They can also turn off the starter and other security functions. This is all accessible via any smartphone or computer that is connected to the internet. Management of your fleet becomes simpler for you and your staff by having GPS systems in place.

5. With GPS monitoring your vehicle, you are less likely to suffer accidents. Insurance companies understand this

Another benefit of GPS tracking is that it reduces in the chance of accidents. When you keep track of how passengers use your vehicle, they are less likely to take the vehicle on personal travel, and are more likely to be careful when it comes to mileage and avoid driving away from the most straight route. Insurance companies know that the more frequently a car has been driven greater likelihood of any kind of accident. Also, you can cut down on insurance costs by cutting down on unnecessary miles as well as personal miles of your employees. This can lead to greater savings each year on your bottom line and can lead to higher earnings.
With GPS installed, you can monitor your fleet on the road using smartphones.

Incorporate this GPS-based technology from a fleet tracker into your fleet card and you’ll have everything you require to effectively manage your fleet. This can be managed while out and about. Fleet telematics connects to tracking devices to collect data including everything from location of the vehicle to the speed at which it is driven as well as the number of stops made by drivers can be tracked by this simple and easily installed device. If you’re connected to the internet accessible, you are able to monitor all of your fleet vehicles using your phone or computer. That is your company will be able to see where vehicles are located and observe the activities of drivers in real-time any time of the day or night.