Companies With Fleet Tracking Benefit From Insurance Discounts

In addition to the many operational efficiencies and cost saving benefits offered by a tracking system they are also helping companies to keep the cost of insuring their fleet down.

Many UK insurance providers are offering UK companies that install a tracking system into their vehicle a significant discount of up to 30%. These insurance providers recognise that vehicle tracking increases the security of vehicles and allows fleet managers to ensure that their employees drive responsibly.

Vehicle tracking can also help companies to quickly settle insurance claim disputes. A common problem for companies, especially those that operate HGVs, is non-genuine claims made against their insurance policies. Most vehicle tracking systems maintain a record of a vehicle’s journeys for at least 6 months. The data stored includes date/time, locations, direction of travel and speed. This data is admissible as evidence to support/defend a claim and prevent companies from paying unnecessary excesses or increased insurance premiums.

Some insurance companies are also using vehicle tracking to offer affordable premiums to young drivers. The reductions are offered providing they only drive between certain times of the day, and tracking helps the insurer to ensure the policy isn’t being abused. Another proposed use of tracking is ‘Pay As You Drive’ insurance where drivers are only charged for insurance based on their journeys, providing cheaper insurance to people who do not often drive.