For many Australians, vehicle insurance is not only a necessity but also a significant expense. That's why questions like, “Can installing a GPS tracker reduce my insurance premium?” are becoming increasingly common. The good news is, the answer is often yes - but it depends on your insurer, vehicle, and circumstances.
At Trackershop Australia, we’ve helped countless individuals and businesses protect their vehicles with reliable GPS tracking solutions. But that’s not all - we also guide our customers through understanding how GPS trackers can impact their insurance. Here’s everything you need to know.
Buy the best GPS car trackers here
Can a GPS Tracker Lower Your Insurance Premium?
The short answer is yes, in some cases. Many insurance providers see GPS trackers as tools to lower risk. Here’s how they might influence your premium:
• Discounts for Lower Risk: Some insurers offer discounts to vehicles equipped with GPS trackers, as these are considered safer and less likely to be permanently stolen.
• Risk Assessment Consideration: Even if discounts aren’t explicitly advertised, many insurers account for a tracker when assessing your overall risk and setting policy terms.
• Factors That Influence Savings: The extent of the discount often depends on:
-
- The specific insurer’s policy
- The type of vehicle (e.g., luxury or work vehicles)
- Your location (in high-theft areas, trackers are especially valuable)
- Vehicle value and usage
While not every insurer guarantees savings, many adjust risks favourably, making it a worthwhile addition.
Why Insurers Value GPS Trackers
Theft Deterrence
Vehicles with GPS trackers are much less likely to be stolen, as they allow for quick recovery. Insurers appreciate this lower risk of complete loss and higher likelihood of successful recovery, which translates to cost savings for both you and the insurer.
Faster Claims Process
When a claim is necessary, having a GPS tracker offers undeniable perks:
• Accurate Data: Trackers provide exact location history, helping to validate claims and reducing the administrative back-and-forth.
• Dispute Resolution: With movement records and usage data, contentious or fraud-related claims are resolved faster.
Fleet Risk Management for Businesses
For businesses, trackers do more than just protect vehicles:
• Reduce driver risks by monitoring behaviour
• Improve route efficiency with data insights
• Minimise liability by ensuring vehicles are used appropriately
These benefits present a win-win for both businesses and insurers.
What Types of Vehicles Benefit Most?
While any vehicle can benefit from added security, certain categories reap the most rewards:
• Utes, 4WDs, and Work Vans: Given their high theft rates, tradies and small businesses find GPS trackers particularly useful.
• Luxury or Performance Vehicles: Often high-value and highly targeted by thieves, these vehicles represent a significant risk reduction with tracking installed.
• Fleet Vehicles: Businesses operating multiple vehicles gain both protection and operational efficiency with trackers.
• Unsecured Parking: Vehicles left on-street or in non-secure areas are prime candidates for GPS solutions.
Some insurers even require GPS trackers for certain policies, particularly for expensive tools or equipment stored in vehicles or for high-value cars.
What Kind of Tracker Do Insurers Prefer?
If you’re adding a GPS tracker to your vehicle with insurance in mind, here are some features insurers value most:
• Hardwired or Tamper-Proof Devices: Reliable, permanent installation reduces the risk of removal or interference.
• Real-time Tracking: Instant alerts and location updates are essential for recovery.
• Additional Features: Geofencing (alerts when the vehicle leaves a designated area), tracking history, and movement notifications offer an extra layer of security.
At Trackershop Australia, our range of trackers satisfies all these criteria, including plug-in, magnetic, and hardwired options designed for ease of use and maximum protection.
Talk to Your Insurer
It’s always a smart idea to consult your insurance provider directly. Here’s what to ask:
- Do they offer discounts for GPS tracking?
- Do they require trackers for high-value or commercial vehicles?
- Are there specific tracker features they recommend?
Even insurers who don’t have formal discounts often assess your risk more favourably when a tracker is installed, potentially influencing premiums and excess costs in your favour.
How Trackershop Australia Can Help
Whether you’re a car owner, a tradie, or a fleet manager, Trackershop Australia provides GPS tracking solutions tailored to your needs. Here’s why customers trust us:
• Easy Installation: Choose from plug-in, magnetic or hardwired options.
• Real-Time Alerts: Movement alerts, geofencing, and ongoing tracking history offer peace of mind.
• Versatility: Suitable for personal cars, work vehicles, or fleets.
• Fast Shipping Australia-wide: Protect your vehicle quickly with our responsive service.
Explore Popular Options:
• Car GPS Trackers: for personal and high-value vehicles.
• Fleet GPS Tracking: to maximise business efficiency.
• Asset Trackers: for tools, equipment, and beyond.
Whether it’s theft protection, claim assistance, or even insurance discounts, our advanced trackers have you covered.
Summary – Is It Worth Installing a GPS Tracker?
Installing a GPS tracker offers unparalleled value for multiple reasons:
• Protect your vehicle from theft and loss.
• Lower insurance risk and potentially reduce premiums.
• Speed up insurance claims with accurate, real-time data.
• Gain peace of mind with increased security.
Even when insurers don’t guarantee an explicit discount, the protection and potential financial benefits far outweigh the cost of the device.
Want to Protect Your Vehicle and Reduce Insurance Costs?
Take the first step by exploring Trackershop Australia’s range of GPS trackers. With fast shipping, expert local support, and cutting-edge features, we make protecting your vehicle simple and stress-free.
Invest in security. Invest in peace of mind. Choose Trackershop Australia today!
See our range of GPS car trackers here
Contact us on live chat 7 days a week, or email us at info@trackershop.com.au
