Is vehicle tracking ready to go private?
There are a number of well known ways in which you can reduce your premiums on your car insurance.
Simple obvious ones include having an alarm system, steering lock, and other immobilisation devices fitted.
Others include parking off the road in your garage, or having advanced driving training.
Fairly common sense stuff.
Interesting enough, though, the commercial fleet sector has taken up vehicle tracking in a big way, and it can reduce the insurance bill for companies by around 30%. Now that’s a nice reduction.
Only, we see little use of vehicle tracking in the wider private user market.
I find that a bit odd, as this is something that insurance companies already recognise in reducing premiums.
Additionally, there’s peace of mind in always knowing exactly where your vehicle is, and this should certainly work as a deterrent to thieves.
Still, perhaps it is simply a case of waiting for the technology to be accepted. After all, once upon a time car alarms were very rarely used, and nowadays it is hard to be in any urban area without hearing the familiar noise of a car alarm going off.
With vehicle tracking systems costing around £200-£300 per vehicle, it remains an accessible solution. And for many cars, the savings on the insurance premium alone can easily pay for vehicle tracking in the first year.
We may yet see this become a more widely used consumer technology yet.
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