Jun 24, 2022

Does Using Telematic and Car Tracking Devices Lower Insurance Premiums?

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GPS vehicle tracking devices offer a wide range of benefits including lower fuel costs, improved efficiencies, customer service and productivity; however, did you know that you could also potentially save on your vehicle insurance premium?

In this guide, we’ll be explaining how vehicle tracking devices could lower your vehicle insurance premiums, helping you to make further cost savings for your business.

Can Car Tracking Help Reduce Insurance Premiums?

GPS Tracking Reduces the Chance of Claims Due to Vehicle Theft

When you install a vehicle tracking device on your vehicle, the chances of it being stolen decrease significantly due to a number of factors.

First of all, vehicle trackers act as a deterrent to thieves as they know they can be more easily tracked down, so are less likely to go for a vehicle with a tracker fitted.

Even if a thief does take their chances and attempt to take the car, vehicle trackers have a number of features that allow you to recover your vehicle much more quickly.

At Fleetsmart, our tracking devices can help reduce the chances of vehicle theft in many ways, from preventing a thief from returning on the ignition to tracking down stolen vehicles immediately.

Geo-Fence Alerts

Our geo-fence alerts can send you a notification when a vehicle exits or enters a location it shouldn’t between specific times. This comes in useful for ensuring your vehicles aren’t being taken from your warehouse, car park or driveway when you aren’t using them.

Remote Immobilisation

Once you have been alerted to your stolen vehicle, you can turn on our optional add-on remote immobilisation tool. It works by sending a remote signal to the vehicle's engine management system which then prevents the engine from restarting when it is next turned off.

This means a thief may get away with the initial break in and manage to set off, but they won't be able to get very far or restart the engine once they have stopped.

Accurate GPS Tracking

Thanks to our incredibly accurate GPS tracking software, you can work with the police to track down and recover your vehicle much more quickly, with 60 second updates on your car’s location.

European Tracking

According to Farsight, in the UK a vehicle is stolen every 9 minutes. These are then frequently shipped overseas and refurbished or painted with all identification removed, so they can’t be traced and recovered.

By opting for European vehicle trackers, not only are you enhancing the probability of locating your stolen vehicles and expediting their recovery, but you also extend the scope of vehicle tracking abroad, enabling retrieval even if they cross into other European countries.

Reducing the risk of theft through an advanced vehicle tracker means an insurance company is less likely to have to pay out for a stolen vehicle and could therefore potentially offer a discount on your premium.

Vehicle Tracking Encourages Safer Driving

Vehicle tracking commonly acts as a deterrent to drivers who are inclined to speed and drive dangerously, therefore reducing the risk of accidents by making drivers more responsible.

Vehicle insurance companies are aware of this, making it another reason why they may offer lower premiums for vehicles fitted with GPS trackers.

GPS Tracking Discourages Misuse of Fleet Vehicles

Similarly, drivers who are aware their vehicle is being tracked are less likely to misuse their fleet vehicles for personal use.

This is something that insurance providers will be particularly thrilled about, as complications can arise when vehicles encounter an issue whilst being used for purposes they are not insured for, like personal errand runs.

If you’re looking at implementing vehicle tracking systems in your fleet vehicles in order to improve security, increase driver safety, save money and lower insurance costs, Fleetsmart can provide the right solution for you.

To find out more about our GPS tracking devices, please don’t hesitate to reach out to our team and we’ll be happy to discuss our latest technology with you.