Frequency of Vehicle Thefts Increased in 2020
Frequency of Vehicle Thefts Increased in 2020
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!
The Benefits of Telematics for Commercial Fleets
The Benefits of Telematics for Commercial Fleets
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 Telematics for 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)
- Vehicle weights
- Movement patterns of a vehicle
- Distracted driving incidents (e.g., smartphone usage)
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 Telematics for 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!
8 Common Car Insurance Myths
8 Common Car Insurance Myths
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 Clarified 8 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!
What Factors Affect Your Car Insurance Premium?
What Factors Affect Your Car Insurance Premium?
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.
Contact GDI Insurance Agency, Inc. today for your comprehensive auto insurance quote! 209-634-2929
Your Personal Information and Driving History
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 Vehicle and 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.
Your Location
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
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!