How does GPS fleet tracking system incur in lesser Insurance costs?

Companies, who run their business with/via fleets of vehicles, have to pay thousands of rupees every year for Insurance costs. For such entities, Trakomatic can be a money saver in several ways. A vehicle tracking system in a lot of ways for such companies, like a safer driving experience, easier recovery of lost assets, fuel savings & lesser maintenance cost, etc. But one of the most important savings that gps fleet tracking can generate is on fleet insurance.

A Safer Driving Experience

The most important person for a fleet is probably the driver, and Trakomatic helps to keep track of each driver’s data. You can see how often drivers exceed the speed limit, where they divert from their standard routes, and when and where they engage in hazardous driving practices like sudden braking or dodging in and out of office. By analyzing these specific data, you can turn a bad driving behavior into a safer driving experience for your fleet as well as others on the road.
Hence by installing Trakomatic, you will get a better control over your drivers which will result in avoiding violations, or worse, accidents that will drive up your insurance premiums and potentially smudge your company’s reputation.

Recovery of Lost Assets

Blatantly put, the cost of replacing a stolen vehicle is a huge factor in the overall cost of insurance. Having Trakomatic installed on a fleet can make it much easier to recover stolen assets, resulting in fewer comprehensive claims against the insurance policy and fewer rate hikes that result from claims. Moreover, it occasionally helps the law by making it easier to catch the culprit.
Here’s the deal: Fleet tracking keeps a watch on where your vehicles are at all times. So, if one goes missing, it can provide you and the authorities with a real-time location of the vehicle making it easier to recover the vehicle, which will mean no insurance claim and hence no hikes.

Fuel Savings and Lesser Maintenance Costs

A maintained vehicle is a safer vehicle, and installing a fleet tracking system is the way towards better vehicle maintenance. Trakomatic allows you to set alerts for numerous occasions such as when a vehicle has travelled a certain number of miles or hours, or can add the service date for each vehicle to act as reminders. This means that your fleet will always be well maintained, resulting in a more safer and more efficient fleet that is also well managed.

Small business owners need to take advantage of every saving opportunity they can find, and fleet tracking makes savings available in several ways, including on insurance. Make sure you’re taking advantage of every edge you can get, and your business will benefit. In fact, some insurance companies have begun partnering with fleet management companies to offer tailored fleet insurance rates.