5 Benefits of Having GPS Tracking When Filing an Insurance Claim
22 Feb 2023GPS tracking technology has come a long way in recent years, and it can be a valuable tool when it comes to filing an insurance claim. Whether you’re a business owner or an individual, having a GPS tracker installed on your vehicles or equipment can provide several benefits that can make the claims process smoother, more efficient, and cheaper.
Reduce insurance premiums for teen drivers.
If you have a teen driver on your car insurance plan, you likely noticed your insurance premiums skyrocket. That’s because teen drivers are at a higher risk of reckless driving and getting into a car accident. However, using a GPS tracker in your teen’s vehicle may reduce your insurance premiums. Click here to learn more about GPS trackers for teen drivers.
Determine fault.
One of the primary benefits of having GPS tracking when filing an insurance claim is the ability to quickly and easily provide accurate information about the location and movements of your vehicles or equipment. For example, if you have a GPS tracker installed on a company vehicle, you can easily provide the insurance company with detailed information about the vehicle’s location and movements at the time of an accident or theft. This can help to establish the facts of the incident and can make it easier to determine who is at fault.
Prevent fraud.
GPS tracking devices can also help to prevent fraud in insurance claims. For example, if you have a GPS tracker installed on a company vehicle, you can use it to verify the location of the vehicle at the time of an accident or theft. This can help to prevent fraudsters from making false insurance claims and can help to ensure that only legitimate claims are paid out.
Recover from theft.
Another benefit of GPS tracking is that it can help you to keep track of your vehicles and equipment and quickly locate them if they are stolen. For example, if you have a GPS tracker installed on a company vehicle, you can use it to quickly and easily locate the vehicle if it is stolen. This can help to minimize the loss and can make it easier to recover the vehicle. Also, it can verify that the vehicle was in your possession until it was stolen.
Receive an insurance discount.
Similar to how GPS trackers may help to lower insurance premiums for teen drivers, many insurance companies will give you a discount on insurance for anybody who uses a GPS tracker in their vehicle. This is because they understand all of the benefits GPS trackers provide and how much easier it makes in determining fault and filing claims.
Installing a GPS tracker is a small up-front cost that can save you hundreds or thousands in insurance premiums and claims. If you do install a GPS tracker for your vehicle, make sure to inform your insurance company!
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