Gps Tracking Unit Discount

don · 11-05-2009, 07:16 PM

I got a GPS Tracking unit and was wondering what the discount is from insurance companies for it. I know Direct ins is 5%. How much is offered by other companies?

sy goldberg · 11-05-2009, 07:40 PM

Most of the few insurance carriers that are insuring 38-39 foot 3-4 engine outboard boats in south Florida require them due to the high theft rate of this class of boat so a discount does not apply.I'm working on providing a discount on some of our programs,but this has not been finalized as yet.

don · 11-05-2009, 09:23 PM

Who would be someone to talk to to prove the working units as to get them to understand the effectiveness of the Tracking units. Maybe then can a discount be given to the boat owner

sy goldberg · 11-05-2009, 09:46 PM

Me ! I'm working on this and being that I live in South Jersey and I'm near the headquarters of most of the main boat insurance companies and I know just about all the execs,I do get them to listen to me.

WakezoneINS · 11-05-2009, 10:09 PM

Quote:

Originally Posted by don

I got a GPS Tracking unit and was wondering what the discount is from insurance companies for it. I know Direct ins is 5%. How much is offered by other companies?

There are some carriers that already have this discount in place even if it's a requirement of the policy. We just wrote a policy in South Florida where the client had to get a GPS device but the cost of the device was offset by the discount given my the insurance company.

Every carrier is different in the amount they give and I know that it varies by state. When you're shopping around just ask them if they offer the discount.

Velocity Vector · 11-05-2009, 11:29 PM

5% discount is laughable.

WakezoneINS · 11-05-2009, 11:45 PM

Quote:

Originally Posted by Velocity Vector

5% discount is laughable.

I agree that it can be.... 5% isn't all that much. A discount of $50 per $1000 in premium isn't phenomenal and at that premium level it would take several years to recoup your out of pocket expense for the device/service but look at it from another point of view...

For those who are paying $4000+ a year, saving 5% - 10% annually for putting a $350 device on their boat is a no brainer.... money is money and any savings you can get is money that stays in your pocket.

don · 11-06-2009, 06:15 PM

The 5% is only from Direct Ins on my truck and that is only because I did a demo. I am trying to talk with some insurance companies to try our units and see the differance and how fast the boats can be caught. These units call as soon as it leaves the GEO fence and someone can be on it in minutes. Cant even cut the power cables without a warning call.

WakezoneINS · 11-09-2009, 02:41 PM

Quote:

Originally Posted by don

The 5% is only from Direct Ins on my truck and that is only because I did a demo. I am trying to talk with some insurance companies to try our units and see the differance and how fast the boats can be caught. These units call as soon as it leaves the GEO fence and someone can be on it in minutes. Cant even cut the power cables without a warning call.

Being that there are several systems that are already "recommended" by carriers and agents that when you approach them, point out how your system is better or differs over your competition.... that will likely get you noticed faster and get a "step ahead".

Standard discount depends on the area and whether or not it is a requirement of coverage.

Steve Snider · 11-11-2009, 10:02 PM

I have three (3) Nav-Tracker 2 units for sale. PM for OSO discount.