Everyone is susceptible to vehicle theft, whether they live in a metropolitan area, the neighboring suburbs or the rural countryside. In fact, after a downward trend in the frequency of vehicle thefts, there was a dramatic increase in 2020, according to the National Insurance Crime Bureau (NICB).
According to an NICB study, there were 873,080 vehicle thefts in 2020, a 9.2% increase over 2019. The NICB said the pandemic, economic downturn, loss of juvenile outreach programs, and public safety budgetary and resource limitations are likely contributing factors to this increase.
Thieves are opportunity seekers, often seeking vehicles that are consistently parked in the same location or that are unsecured. While not everyone will have their vehicle stolen, an increase in vehicle crimes can increase insurance rates. The NICB reported that about one-fourth of a typical comprehensive auto insurance premium pays for auto theft claims.
Anti-theft Safeguards to Follow
Adding multiple layers of protection can help safeguard your vehicle against theft. The NICB recommends the following:
Basic protections—Always remove keys from the ignition, lock doors and windows, and park in well-lit areas. Don’t leave your car unlocked and unattended with the engine running. Never store spare keys inside your vehicle. Safely hide valuables from plain sight.
Warning devices—Aftermarket alarms are available for all makes and models of cars. A qualified mechanic can install a visible and audible alarm system in your vehicle. Visual devices include column collars, steering wheel locks and brake locks.
Immobilizing devices—Prevent thieves from bypassing the ignition and hot-wiring your vehicle with an immobilizing device. Many options are available, including smart keys; fuse cut-offs, kill switches; starter, ignition and fuel pump disablers; and wireless ignition authentication. To determine the best device for your vehicle, seek the advice of a qualified mechanic.
Tracking devices—Tracking devices are very effective in recovering stolen vehicles. A qualified mechanic can install a tracking system in your vehicle that emits a signal to the police or a monitoring service if it is stolen. Some systems combine GPS and wireless technologies to allow remote monitoring of your vehicle. If a thief moves your vehicle, the system alerts you and you can track it on your computer.
Thieves can steal any vehicle, but, by adding layers of protection, you can make your vehicle a more difficult target for criminals.
California’s Leader in Insurance and Risk Management
As one of the fastest-growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more. The GDI team has developed an “insurance cost reduction” quoting plan, that provides you with the best coverage at the best rate!
We are headquartered in Turlock, CA, with locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business.
Contact us today 1-209-634-2929 for your comprehensive auto insurance quote!
Managing a fleet and drivers can be a challenge, particularly given the potential for accidents, employee injuries, liability concerns and increased costs associated with vehicle upkeep. Nevertheless, your fleet—whether it be a handful of cars or dozens of commercial vehicles—plays a major role in the success of your organization. There are many benefits of Telematics for Commercial Fleets.
As such, it’s crucial to take a proactive approach to fleet management. To help accomplish this, many businesses have started to equip vehicles with devices known as telematics. These devices can help reduce numerous fleet risks, improve efficiency and promote safe driving behaviors. This Risk Insights provides an overview of telematics and the benefits that this technology can provide for your organization. For detailed information on the telematics solutions available to your fleet, contact us today.
The Basics of Telematicsfor Commercial Fleets
Telematics is a form of vehicle software that combines the features of telecommunications and informatics to help employers effectively manage and monitor their fleet. This software operates by connecting to telematics devices installed in a vehicle, including GPS technology, sensors, mobile applications, dashcams and vehicle engine diagnostics solutions. Common data collected by vehicle telematics software includes:
Vehicle speeds
Vehicle locations
Diagnostics data related to fuel efficiency and vehicle performance
Driving behaviors (e.g., braking intensity or acceleration frequency)
Telematics can be used in a variety of different commercial vehicles, including cars, cargo vans, tractor-trailers, buses and heavy equipment. Many employers use this technology to monitor vehicle deliveries, determine routes, communicate with drivers, review employee driving practices and detect vehicle maintenance concerns.
Why You Need Telematicsfor Commercial Fleets
Utilizing telematics software can benefit your fleet by:
Reducing operational costs—Telematics software can help keep drivers updated on upcoming traffic concerns or road hazards, offer rerouting options and locate preferred gas stations—all of which can contribute to maximum fuel efficiency and lowered operational costs.
Encouraging safe driving—Because telematics software detects driving behavior, employees will be even more motivated to follow safe driving practices and meet organizational standards. In addition, this technology allows employees to better monitor their individual driving habits and detect flaws that they might not have realized otherwise. In some cases, employers can send immediate in-cab alerts to correct dangerous behaviors in real time. What’s more, fleet managers can use the data that telematics collects to personalize driver coaching, helping employees actively address potentially dangerous driving behavior.
Fostering employee engagement—Drivers spend the majority of their workday confined to a vehicle with minimal communication opportunities, which can be harmful to both their physical and mental health. By implementing telematics software in your fleet, drivers will have an increased ability to digitally communicate and interact with others (e.g. their supervisor, co-workers and dispatchers) regarding travel progress, road conditions, delivery requests or vehicle concerns.
Bolstering fleet security—Due to advanced tracking and communication features, telematics software can also help keep your fleet safe and secure in an emergency. For example, you can utilize telematics tracking to detect the location and route of any stolen vehicles—thus simplifying the vehicle recovery process. What’s more, many forms of telematics software allow you to implement advanced security features in each vehicle, such as requiring the driver to enter a passcode before driving to reduce the risk of theft altogether. Apart from preventing theft, telematics software can also help drivers quickly alert the proper authorities and share their exact location in the event of an accident on the road.
Ensuring vehicle maintenance—Telematics software is able to detect a wide range of vehicle breakdown or maintenance problems, such as engine issues or diagnostic concerns. From there, this technology is able to inform the driver of the problem and locate the nearest repair center or garage. Also, telematics software can be programmed to inform drivers of routine maintenance requirements, such as an oil change or tire pressure check. Many employers pair telematics with a preventive maintenance program to streamline the upkeep of the fleet.
Reducing administrative costs—Telematics allows employers to digitize records that would otherwise have to be maintained manually, which can be a time-consuming process. Specifically, through telematics, employers can generate reports regarding expenses, driver performance, maintenance and fuel expenses, thus simplifying a business’s recordkeeping practices overall.
For additional insurance and loss control guidance, contact GDI Insurance Agency, Inc. today.
California’s Leader in Insurance and Risk Management
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more. The GDI team has developed an “insurance cost reduction” quoting plan, that provides you with the best coverage at the best rate!
We are headquartered in Turlock, CA, with locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business.
Contact us today 1-209-634-2929 for your comprehensive insurance quote!
Auto insurance can be complex and difficult to understand. With all the information available to policyholders, it can be challenging to decipher the facts from myths. Knowing what’s covered under your auto policy and the factors that determine your premium is crucial. What’s more, not understanding your coverage may lead you to believe you’re covered when that may not be the case. These 8 Common Car Insurance Myths will help you understand the complexities of auto insurance.
To help clear up any misinformation surrounding your auto insurance policy and put your mind at ease, provided below are 8 Common Car Insurance Myths—debunked:
The color of your vehicle can affect your car premium.
Despite popular belief, the color of your vehicle has no impact on your auto insurance costs. When insurance companies are factoring your car into your insurance policy, they’re looking at the other components of your vehicle, such as:
The vehicle’s safety features and ratings
The vehicle’s make, model, year, body type and engine size
The likelihood that the car will be stolen or vandalized
The cost to repair or replace the vehicle following an accident.
If someone else is driving your car and gets into an accident, their insurance will cover any damages or injuries.
The insurance held by the
owner of the vehicle is typically considered the primary insurance in the event
of an accident. So, regardless of who was driving when the incident occurred,
the vehicle owner’s insurance is what will serve as the primary coverage to help
pay medical bills or damages.
Your credit score has no effect on your insurance rates.
Your credit score is a
significant factor insurance companies consider when they determine your
premiums. Your credit score can show insurance agents how well you manage your
finances and how likely you are to file an insurance claim. People with good
credit tend to pay less for their car insurance since they are seen at a lower
risk.
The minimum amount of liability coverage required by your state is adequate.
Although purchasing the minimum amount of coverage required by law may reduce your premiums, you may pay more out-of-pocket in the event of an accident. In many cases, it is advisable to select limits that are above your state’s minimum requirement. Severe accidents can be very costly when you consider the rising cost of medical expenses, court settlements and vehicle repairs. Liability coverage gets broken down into two basic segments:
Bodily injury liability coverage:Can help cover any medical bills that may come from an accident if you are found at-fault. Within bodily injury liability there are two subcategories:
Per-person limit is the maximum your insurance will pay per person.
Per-accident limit is the maximum amount of bodily injury your insurance will cover per accident.
Property damage liability coverage: Covers any damages to a person’s personal property.
If your car is totaled, insurance will pay for your new car.
If your insurance
reimburses you for a covered total loss, such as your car being totaled,
depreciation is taken into consideration. Depreciation is the decreased value
of an item over time from the age of the property or wear and tear. Depending
on your type of coverage, you may get money for your totaled vehicle, but it
will most likely not equal the original purchase price.
Personal auto insurance also covers business use of your vehicle.
Driving a vehicle for
business purposes has its own set of risks, which requires different types of
coverages that your personal auto policy may not cover. If you are using your
vehicle for work or driving for a rideshare service like Uber or Lyft, you
should check with your insurance agent to confirm that you are properly
insured.
The more expensive the car, the more it costs to insure.
The price tag on your
vehicle doesn’t necessarily determine your insurance costs. However, how much
your vehicle costs to repair, the vehicle model’s loss history and other
characteristics can influence your premium. If your car model is associated
with more accidents or traffic infractions, or is costly to repair, it may be
more expensive to insure.
Getting a traffic violation will automatically increase the price of your premium.
Getting one traffic
violation doesn’t always lead to a higher premium, especially for minor
incidents. However, if your violations become more severe or you continue to
accumulate tickets, you will probably begin to see an increase in your insurance
premium. Maintaining a clean driving record following a violation will help
alleviate some of the financial repercussions.
We Just Clarified8 Common Car Insurance Myths
We understand that these 8 Common Car Insurance Myths can be confusing. With all of the of false information surrounding auto insurance, it’s best to work with a trusted insurance professional. Contact GDI Insurance Agency, Inc. today to get a clearer understanding of your auto insurance options.
California’s Leader in Insurance and Risk Management
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more.
We are headquartered in Turlock, CA, with locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business. Contact us today 1-209-634-2929 for your comprehensive auto insurance quote!
If you’ve ever wondered why your car insurance premium differs from what your family and friends pay, it’s because auto insurance policies are not one-size-fits-all. Factors like your personal driving history, how often you drive and where you live can all affect the cost of your auto policy. Below are some of the main factors that can have an impact on your auto insurance premium.
Personal information such as your age, gender, marital status and whether or not you own a home can all play a part in your car insurance premium:
Driving record and credit history—Your driving record and credit history are two of the biggest factors insurers consider when determining your car insurance premium. Safe drivers with good credit tend to pay less on their auto insurance premiums. While any accidents or infractions in your driving history will cause an increase to your premium, the effects of past incidents will gradually decrease over time.
Age—Individuals who are under the age of 25 have a higher risk for accidents and driving infractions than older drivers, which can lead to higher insurance rates.
Gender—Your gender can also be a contributing factor to the cost of your car insurance premium. Statistically, single men under the age of 25 have a greater risk of being involved in accidents and driving infractions than their female counterparts.
Marital status—Being married or owning a home shows a sense of responsibility and stability. This can lead insurers to believe you are more likely to be a cautious driver and not skip any payments, resulting in lower rates on your auto insurance premium.
Your Vehicleand Your Car Insurance Premium
There are a few factors about your vehicle that may affect your car insurance premium costs:
Safety ratings—Every year, the National Highway Traffic Safety Administration tests and rates new vehicle models on safety performance and crash test safety results. If your vehicle has a below average safety rating, you will most likely have to pay more for your premium.
Cost for maintenance and repairs—Vehicles that are seen as unreliable, or expensive to repair and maintain tend to have higher premium rates.
Make and model—Vehicles that are described as dangerous or luxurious often have higher auto insurance premiums, as they are more susceptible to theft, damage and occupant injury. If your vehicle is at higher risk of vandalism and theft, installing an anti-theft device or tracker can lower your premium. Although it’s an initial expense, it could save you more money in the long run.
YourLocation
Whether you live in an urban
or rural area can make a huge difference in your auto insurance costs.
Typically, living in more urban areas will cause your premium to increase since
locations that are more densely populated tend to have greater instances of
theft, vandalism and car crashes.
Where you park or store your
vehicle can also affect your premium. Vehicles that are parked in garages are
at a lower risk of damage and theft compared to those parked on the street.
Your Car Insurance Policy
The way you and your broker
craft your insurance policy determines your premium costs. The following are
policy items that have the greatest impact on the amount you pay:
Limit: Your policy limit is the max amount that your insurance will pay in the event of a covered incident.
Deductible: Your deductible is the amount you pay in order for your insurance coverage to kick in to help cover a loss, damage or medical expense.
Additional coverage: You may decide to add additional coverage to your auto policy that may not be required by your state. With this increase in coverage, there will be a higher premium cost.
Ways to Save on Your Car Insurance
Being a good student or safe driver, bundling your auto policy with other forms of insurance or simply just having a clean driving record are all ways that you may be able to receive discounts to lower your auto insurance premium. Although every insurance company’s discounts vary, most offer those incentives for their customers.
If you have any questions or want a detailed break down of your auto insurance premium, contact GDI Insurance Agency, Inc..
California’s Leader in Insurance and Risk Management
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more.
We are headquartered in Turlock, CA, with locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business. Contact us today 1-209-634-2929 for your comprehensive car insurance quote!
Errors on Your Auto Insurance Application Can Cause Big Issues
You may not think errors on your auto insurance application is a big deal, but the consequences can be very costly. Giving inaccurate information on your auto insurance application can lead to increased premiums, policy cancellations or no financial assistance in the event of an accident.
Errors on your Auto Insurance Application to Avoid
Not listing all drivers—Anyone who continuously drives your vehicle, even if it’s just for a short period of time a week, should be listed on your policy.
Giving a false vehicle location—The difference between parking in one zip code versus another can greatly affect the amount of coverage you need for your vehicle. Failing to report your car’s true location can impact the accuracy of your insurance quotes.
Not reporting your driving infractions—It’s best to be upfront about your driving record to avoid any conflicts or discrepancies. Your insurance company can easily retrieve any driving records from the DMV to application.
Check the accuracy of your application.
Not disclosing business uses—In some cases, you may need a specialized policy when driving for business purposes or for a rideshare company like Uber or Lyft. Failing to take the proper steps could lead to a lack of coverage following an accident.
Failing to update life changes—Changing addresses or adding another driver to a vehicle are all life changes that need to be updated on your policy. By not reporting changes, you may be overpaying for coverage and missing out on available discounts.
Be Honest on Your Application to Avoid the Consequences
Errors on your auto insurance application can end up costing you more money in the long run. If you think that you may have given false information on your auto insurance application, call your insurance agent to update your auto policy and avoid any ramifications.
California’s Leader in Insurance and Risk Management
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more.
With locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business. Contact us today 1-209-634-2929 for your comprehensive Auto insurance quote!
Uber, Lyft and other ride-sharing services can make it easy to get a quick car ride or make some extra income, and they’re only becoming more popular. In fact, in the cities where these platforms are available, taxi ridership has declined anywhere from 10 to 30 percent. However, the convenience of ride-sharing isn’t without risks. Most ride-sharing businesses are in the early stages of development, and the popularity, risk management and compliance issues they’re facing are all in uncharted territory.
How the Ride-sharing Apps Work
Each ride-sharing
service has its differences, but they all operate under the same basic concept.
Almost anyone can be a driver for these services, but each one has different
minimum standards for screening drivers and their vehicles. Passengers can then
see available drivers and make a request for a ride through an app on their
smartphones.
Most apps display the driver’s route and estimated time of arrival, in addition to the driver’s name, photo and vehicle information. The ride-sharing service then takes a cut of the fare, typically between 20 to 25 percent, for each ride a driver completes.
These apps are convenient for passengers who need a ride and for drivers looking to supplement their income. Still, they’re not without flaws. For example, it can be hard to determine what regulations or local laws each service and its drivers need to follow, what auto insurance coverages apply to them and who is considered liable in the event of an accident.
When Insurance Kicks In
Since ride-sharing drivers use
their vehicles for both business and personal purposes, the ride-sharing
services have to clarify when drivers are covered by different types of
insurance.
When a driver is not accepting
rides, his or her personal auto insurance is the primary coverage. When the
driver turns the app on, but has not yet accepted a ride, ride-sharing services
generally offer contingent liability coverage if the driver’s personal auto
insurance does not offer protection. When a passenger is picked up, the service’s
policy is the primary policy until the end of the ride.
State Involvement
Unlike taxis, which are regulated
on a city-by-city basis and have to follow specific guidelines, ride-sharing
services haven’t had to adhere to the same strict regulations. However, this is
beginning to change—some states are enacting laws to set standards and insurance
requirements for ride-sharing. Additionally, upcoming court decisions will help
determine who will be held liable for ride-sharing accidents in the future.
Ride-sharing ServicesDriver Risks
Some ride-sharing companies
provide liability insurance for their drivers in excess of their personal
liability coverage. However, this doesn’t mean that drivers have insurance
coverage for all of their risks.
Drivers can be dropped by their
insurance company if they engage in a commercial activity on a personal auto
policy. As a result, drivers need to be honest about how they intend to use
their vehicles when they obtain insurance. If a driver fails to indicate the
intention to drive for commercial purposes, the insurer could not only deny
claims, but also drop the driver from the policy entirely. However, some
insurers have created hybrid policies that allow drivers to switch between
personal and commercial coverage.
Ride-sharing ServicesPassenger Risks
When a passenger gets into a car
arranged by a ride-sharing app, he or she automatically agrees to a number of
terms and conditions. If the driver gets into an accident and the passenger is
hurt, there’s no guarantee that the driver’s insurance company or the
ride-sharing service will pay for damages.
For example, a driver’s personal
insurance company may decide that he or she was driving for profit and, for
that reason, isn’t required to pay any medical bills. The passenger would then
need to take the driver to court for damages, which can be a costly and
time-consuming process. On the other hand, passengers can approach taxi
companies directly regarding liability and other safety issues.
Safety is also a concern for both
drivers and passengers. A driver never knows the type of person about to get
into the back seat. Likewise, a passenger only knows how reliable a driver is
from the information a ride-sharing service shares about the driver on its
app.
Important Safety Tips for Ride Share Passengers
Using a ride-sharing app is
generally a safe and reliable method of transportation, but there are safety
risks to consider. Keep these safety tips in mind when using ride-sharing
services:
Share your trip details with a friend or family
member in case a ride goes unexpectedly. Some apps allow you to share your
route and driver information.
Before you get in the car, check that the driver’s
photo, name and license plate match what’s listed on the app. Never enter a car
with a driver who offers you a ride and claims to be with a ride-sharing
service.
Never share any personal information that the driver
doesn’t need to complete the ride. This includes phone numbers, as ride-sharing
apps typically anonymize their passengers’ phone numbers to protect their
privacy.
Always wear your seat belt. If the car you’re riding
in doesn’t have one or appears to be unsafe, instruct your driver to pull over
and cancel the ride.
Report any unsafe driving on the ride-sharing app
immediately.
While ride-sharing services evolve to meet the safety needs of drivers and passengers, insurance companies are taking different approaches to claims. Contact us at 209-634-2929 to discuss your auto insurance coverage and make sure you’re always protected.
California’s Leader in Insurance and Risk Management
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more.
We are headquartered in Turlock, CA, with locations across the heart of California’s Central Valley, Northern California and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business. Contact us today 1-209-634-2929 for your comprehensive auto insurance quote!
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