How a Tracking Device Can Lower Your Car Insurance Rates

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How a Tracking Device Can Lower Your Car Insurance Rates

If you've ever been lost in an unfamiliar town, you've likely relied on a GPS receiver to get you where you need to go. Did you know, though, that GPS

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If you’ve ever been lost in an unfamiliar town, you’ve likely relied on a GPS receiver to get you where you need to go. Did you know, though, that GPS receivers are good for more than helping you find your way? When you install a tracking device in your car, you can use the power of GPS to help you save on your insurance rates. Here are a few ways that a tracking device can help lower your insurance rates.

Track Driving Habits

For many drivers, bad driving habits like speeding quickly become second nature. For an insurance company, though, a chronic speeder represents a high-risk client. One ability of a tracking device is to track your speed, braking, and acceleration habits. Since your insurance company can access this information, you will likely be more mindful of your driving habits, becoming a safer driver in the process. As your driving habits improve, you may also become eligible for discounts on your car insurance.

Find a Stolen Car

For a car insurance company, a stolen car is one of the most expensive forms of loss. That’s because, unlike in a car accident where you can repair the car and get it back on the road, a stolen car leaves you with no car at all. That’s why GPS tracking devices are so helpful to help lower your car insurance premiums. If your car is stolen, you can track it down and recover it much more easily than if you didn’t have a tracking device. This lowers the risk that your car will be lost permanently, allowing your insurance company to reduce its rates for you.

Avoid Risky Situations

If you lend out your car, there’s always at least a little bit of doubt regarding what the other person will do with your car while they have it. An accident that happens while someone else is driving your car could cause your insurance rates to skyrocket. Fortunately, when you have a tracking device in your car, you can quickly find the location of your car to ensure that the person who borrowed it isn’t using it in an unsafe manner.

Add a Camera

When an accident happens, there’s no better tool to help reconstruct the accident than a dash-mounted camera. To help make your camera even more powerful, you can add a tracking device to provide precise location information to help corroborate the evidence present in the video. If you can prove to your insurance company that you weren’t at fault for an accident, it can do a lot to help prevent your premiums from increasing unnecessarily.

The great thing about an in-vehicle tracking device is that it provides great peace of mind without a second thought. Since it automatically runs whenever your vehicle is running, all you have to do is watch the insurance savings add up. Then, you can invest that money in maintaining your vehicle to help you save even more money.

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