How GPS Can Help With Insurance

Proper management of fleet vehicles is critical for any company that generates income by transporting assets. Businesses need to constantly be on the lookout for ways to enhance and improve their fleet management processes, and implementing an effective GPS tracking solution can be one of the best ways to do so.

With a high-quality GPS tracking system, your business can rest assured that your assets are safe and that your transportation and distribution procedures operate more efficiently. But did you know that GPS can help with insurance costs, too? Keep reading to learn more.

What Is GPS Tracking?

GPS (Global Positioning System) technology is an omnipresent tool used for location tracking around the globe. GPS tracking works by using satellites located in the earth’s orbit to detect the position of a GPS tag. A GPS device then uses mapping and cellular technology to offer a precise location of the tagged item in real-time. The functionality of GPS technology makes it a perfect option for the management of fleet vehicles.

In the past, real-time GPS tracking was only used for large fleets. But these days, this technology is an easily available and low-cost solution for tracking fleets of all sizes. It is an ideal way to improve the operational efficiency of your asset transportation and improve your business’ bottom line.

There are many obvious benefits to implementing a GPS tracking solution, but one of the most important ones that is often overlooked is the correlation between GPS units and insurance costs.

How GPS Can Help With Insurance

One of the main benefits of implementing GPS fleet tracking into your fleet management is to help lower your insurance premiums. Many insurance providers offer discounted rates on insurance coverage for fleets that have a GPS fleet tracking solution. Here are some of the main reasons that GPS can help with insurance costs.

Theft Reduction

The National Highway Traffic Safety Administration claims that over 770,000 vehicles are stolen each year. GPS tracking is one of the most effective ways to aid in vehicle theft reduction. Fleet managers can set up GPS solutions so that drivers and management receive an alert if a vehicle or asset is moved.

Managers can easily locate and recover the physical item or vehicle, which helps to prevent huge losses that insurance companies would have to cover. Insurers appreciate GPS tracking solutions and are often willing to offer a lower insurance cost for companies that have them in place.

Prevents Misuse Of Vehicles

Without GPS tracking, fleet managers have no way of knowing if and when company vehicles are being used in an unauthorized manner. This has led to vehicles incurring increased mileage, fuel, and maintenance costs, not to mention an increase in accidents on the road. Limiting vehicle use to company business only helps to reassure insurance companies that these factors won’t drive up insurance claims over time.

Promotes Responsible Driving

When drivers know that they are being monitored while on the road, they exhibit more responsible driving. GPS units for insurance can help monitor things like speeding, screeching stops, unnecessarily fast acceleration, and more. You can incorporate new material into your driver training curriculum in order to coach drivers about these behaviors and lower the chances of them happening.

Improved Maintenance

Another way to increase the likelihood that vehicles are safer on the road is to take measures to implement preventative maintenance. GPS can help with insurance costs by notifying fleet managers and drivers about maintenance issues with real-time alerts.

Managers can also set up alerts for reminders that preventative maintenance is due on specific vehicles. This makes it much safer to keep your fleet on the road because it lowers the likelihood that a vehicle will need emergency repairs, blow a tire, or, even worse, cause an accident due to a system failure.

Why Choose LAS For Transportation Security And GPS?

LAS offers the following benefits for fleet management:

  • LAS’ customer service specialists can help you assemble and set up your new tracking device.
  • Track vehicles via the free Silvercloud app, available on the Apple Store or Google Play.
  • LAS products are much less expensive than other GPS trackers on the market.
  • You can protect all valuable transportation assets in your organization.
  • GPS can help with insurance by effectively monitoring your inventory.
  • GPS can help with insurance by monitoring the location of employees who drive your vehicles.
  • Improve transparency, accountability, and compliance across your business.
  • Share location data with customers, colleagues, and co-workers.
  • View real-time location data across multiple devices.

Which LAS Product Should You Choose For Transportation Security And GPS?

Here are some LAS devices that improve transportation security:

LAS Overdrive With Sharespot™ Location Sharing And Tracking System

The LAS Overdrive has a dustproof, waterproof design that easily answers the question of how can gps help with insurance. It has an extremely long battery life that can last up to four weeks while sending position updates every 60 seconds. On “low power mode,” the GPS device can last up to 12 months between charges.

The Overdrive comes with a built-in magnet mount and the option to communicate via satellite or 4G LTE network. No matter where your GPS unit goes, it can find a connection to send you information.

LAS 54 With Sharespot™ Location Sharing And Tracking System

The LAS 54 is a dustproof, waterproof GPS tracker that can stand up to rough conditions on the road in all seasons. An internal magnet makes it easy for you to place the unit in an inconspicuous location, making it difficult for potential thieves to access.

These units also have a long battery life that makes the LAS 54 simple to manage. The battery can last up to 3 weeks while sending updates from every 3 seconds to 3 minutes. A charge can last up to 6 months on “low power mode.”

Final Word About GPS Units And Insurance Coverage

Investing in fleet management with GPS solutions offers your business multiple benefits. If you’re wondering how GPS can help with insurance costs, consider this long list of reasons. It will prevent theft, safeguard inventory, improve customer service, and provide law enforcement with the information they require to recover stolen vehicles and assets. LAS products can help you lower your overhead costs and generate more revenue, safely and effectively.

You can call LandAirSea at 847-462-8100, or send a message to [email protected] for more information about transportation security and GPS. You can also view LAS’ wide range of GPS-enabled tracking products here.