If your small business is looking for fleet insurance savings (and who isn't?), there are several ways to get better rates. Hiring people with strong driving records, providing training, and choosing quality vehicles can help. But there may be other options that you wouldn't normally think of — and that might mean that you're missing out on insurance premium discounts of up to 30%[1].

One way that's often overlooked when looking for additional savings on fleet insurance is installing GPS tracking in your vehicles. In addition to offering easier dispatching and a higher level of theft prevention, GPS tracking can bring down your insurance costs. It's also not complicated to get this kind of tracking into all your fleet vehicles, with the right help. Here are just a few of the most important benefits.

Get Accurate Mileage Information

Tracking mileage for write-offs and other benefits is probably already something your company does. But mileage-based information can also give you fleet insurance savings. If you're not putting a lot of miles on your vehicles, you can typically get cheaper insurance rates[2]. That may also be true if you're not traveling long distances, depending on what your insurance carrier offers.

When considering whether to get GPS tracking for your small business' vehicles, think carefully about the mileage you're accumulating with them. If you can get significant fleet insurance savings by accurately having your miles tracked, it could be well worth doing. You'll also have good real-time data about the mileage being put on your vehicles and where your drivers are located at all times, too.

Prove Your Drivers are Safe

The safety of your drivers plays a big role in fleet insurance savings. The safer and more competent your drivers prove themselves to be, the better insurance rates you can generally get. Age and marital status are often two things that insurance companies look at for rates, but those aren't the only things that matter[3]. Additionally, your drivers' driving records and how they act behind the wheel are both important.

You can state that your drivers are safe, and your insurance company can see if they have accidents or tickets on their record. But when you use GPS tracking to get more fleet insurance savings, your insurance company has verifiable proof that your drivers are as safe as you say they are. Over time, that can really work to bring your rates down to something that's more manageable for your small business' expenses.

Deter Theft (and Increase Recovery Chances)

Vehicle theft is a serious problem, and your fleet is vulnerable just like any other group of vehicles. If you want to see fleet insurance savings, though, you can use GPS tracking to help defer theft. People are less likely to steal a vehicle that they know can be easily tracked. They'll generally move on, and look for an easier option. Most vehicle thefts are crimes of opportunity. Locking your vehicles and tracking them with GPS makes them more difficult targets. That can mean lower premiums.

Also consider that, if one of your fleet vehicles is stolen, GPS makes it far easier to track than it would otherwise be. That can raise the chances of recovery[4]. Not only does that help you because you're not out of a vehicle, but it also helps your insurance company because you don't have to pay out on a covered loss. That means you could see fleet insurance savings, since your insurance company will feel like their risk of having to pay for a stolen vehicle is lower.

Be Prepared, to Get the Best Discounts

When you have GPS tracking and you're looking for fleet insurance savings, making sure you're prepared can help. That means bringing all your vehicle information, mileage data, driver information, and more. Your insurance agent will want to see all of those things. But getting that info together is so much faster and easier when you have a tracking system. You can pull reports and take what you need to your agent.

Once you do that, you'll be able to see the great discounts you can get. Being prepared matters, and every small business knows that it can be more difficult to be ready for anything when you don't have the budget and available time of the bigger companies. GPS tracking can help you level that playing field, so you can get what you need to your agent and enjoy more fleet insurance savings, quickly and conveniently.

Lower Your Insurance Costs Today

It's easy to see that GPS can be a good option for small businesses that have fleets of vehicles. Not only is it easier to make sure your drivers are doing the right thing, but your insurance company will thank you, as well. You could save as much as 30% on your insurance premiums. Ready for higher levels of fleet insurance savings? Find out about our latest deals, and start using GPS to save money on your fleet's insurance costs.

Have a clean driving record? Next Insurance, a Linxup partner, is offering 10% discounts to Linxup customers!

See if you qualify

[1] https://www.linxup.com/benefits/save-on-insurance.html
[2] https://www.investopedia.com/best-small-business-insurance-4844202
[3] https://money.howstuffworks.com/personal-finance/auto-insurance/driving-record-affect-insurance-rate.htm
[4] https://www.forbes.com/wheels/accessories/best-hidden-gps-trackers/

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