How Vehicle Trackers Aid In Insurance Claims And Premium Reduction
More and more vehicle owners, from HGV fleet owners to private motorists, are discovering the many benefits of vehicle trackers. Trackers are used mainly for their capacity to keep vehicles safe from theft. But did you know how installing a tracking device can help to keep your insurance premiums down by providing valuable data in insurance claims?
How vehicle trackers help in insurance claims
You may not even have considered that a tracker could play a part in helping you after an accident, but there are several ways in which this could happen.
Accident evidence
Vehicle trackers can be highly beneficial in supporting or investigating insurance claims by providing accurate data about a vehicle’s movements and location. They can also track the manner of driving and usage.
In the event of an accident, a tracking device can provide precise data about the vehicle’s speed, location and direction of travel. This information can assist accident investigators to reconstruct events leading up to an incident. The data can help them to establish whether the driver was at fault in any way.
The more advanced trackers can send out an alert in the event of an accident while some have sensors which can detect sudden deceleration or impact. All this data can prove valuable in determining fault in a motor insurance claim.
Fraud prevention
A vehicle tracker makes it more difficult to falsify details about where and how an accident occurred. After all, insurers are able to use data from the tracker to verify the accuracy of a claimant’s account. For example, a driver may claim that a crash occurred in a specific location, but the tracker data proves the vehicle was elsewhere, indicating a fraudulent claim.
Dispute support
In a case where both sides in an insurance claim are arguing about who is at fault, data from a tracker can help to resolve any argument. It effectively provides impartial evidence about the vehicle’s movements, location and speed and driver behaviour, all of which will help to clear things up.
In some cases, information taken from a vehicle tracker can be shared with police accident investigators or legal representatives, in order to assist in investigations or court proceedings.
How trackers can help reduce premiums
Motor insurance is expensive and shows no sign of coming down any time soon. Therefore, it goes without saying that anything you can do to reduce your premiums is paramount. One of the best ways to do this is by installing a vehicle tracker.
Investment in a Thatcham-approved vehicle tracker provides significant benefits in convincing insurers of the lower risk attached to your vehicle. Plus it demonstrates your willingness to comply with your responsibility of keeping your vehicle safe.
Theft recovery
Vehicle trackers provide real-time tracking and location data, so if a vehicle is stolen this data, usually sent remotely to police or to a monitoring service, can facilitate the quick recovery of the vehicle. This improves the chances of the vehicle still being in a good condition when recovered, further reducing the insurer’s costs.
A tracker can also provide irrefutable proof of when and where the theft occurred, which can help in supporting a theft claim.
Driver behaviour
Insurers like to reward good driver behaviour. Tracker data can help to demonstrate safe driving behaviour such as observing speed limits or employing smooth braking and careful acceleration. Some insurance companies offer discounted premiums to encourage the use of vehicle trackers to promote responsible driving and reduce the cost of claims.
By providing verifiable, accurate data, vehicle trackers help streamline the insurance claims process and reduce fraud whilst keeping vehicles and drivers safe. There are a variety of vehicle trackers on the market today of varying quality and functionality, so anyone thinking of having a tracker installed is advised to contact a leading specialist. This ensures the best possible transfer of information.
