When your business costs includes managing a fleet of vehicles then a great expense reduction strategy is to utilise GPS trackers.
GPS trackers in fleet vehicles reduce business costs such as:
- insurance premiums
- costs associated with vehicle theft (insurance excess, downtime, admin time)
- fuel costs due to better route management
- better utilisation of company / fleet vehicles
- moonlighting by employees
- maintenance costs due to poor driving habits
- log book, journey recording and administration
Reduce insurance expenses with GPS trackers
One of the biggest impacts that you can have on the expenses is to reduce the cost of vehicle insurance.
Because of the nature of your business insurance rates are much higher for fleet vehicles than for personal insurance policies due to the increased liability and risks that fleet vehicles are faced with.
It sometimes seems like businesses are bearing the insurance burden for personal vehicles with the increased costs that you must pay.
But there is one way to reduce the cost of fleet vehicle insurance and that is by installing GPS trackers in each of your fleet vehicles.
GPS trackers reduce the chance of theft by interacting with the on-board vehicle alarm system (certain models of vehicle trackers) and in the event of theft they aid in vehicle recovery and reduce the chance of loss.
These features are seen favorably by insurance companies because they know that the potential of vehicle recovery is significantly higher if a GPS tracker is installed. Higher recovery means much lower payouts (just for repairs) for the insurance company rather than a total payout for the complete loss of the vehicle.
Insurers know this so they will usually give you lower premiums for your fleet cars, vans and trucks.
Monitor driver behaviour and reduce mechanical wear and tear
Another expense reduction that is gained with trackers is the vehicle wear and tear through poor driving habits.
Certain model vehicle trackers allow you to monitor driver driving habits while the vehicle is in service and will report on ongoing habit of fast acceleration and hard braking that will cause vehicles to age prematurely and add to your maintenance costs.
This is done via a G-force sensor fitted to appropriate model trackers.
By installing GPS trackers in your fleet vehicles you will have the means to monitor your vehicles and take steps to avoid early mechanical breakdown through poor driving habits.
Running a successful company means being efficient and reducing costs to ensure good margins. By making GPS trackers a part of your company’s fleet strategy you will reduce expenses and increase your chances for success.