Insurance approved vehicle tracking
What is insurance approved vehicle tracking?
Insurance approved tracking refers to tracking devices of a particular standard or those matching a set of criteria which insurance companies often require. Insurance companies may stipulate that such tracking devices be installed on vehicles of high value, on high performance vehicles or on vehicles which may be categorised as ‘high risk’. Not every GPS/GSM tracking system on the market will meet with insurance company requirements.
Meta Trak offers Thatcham certified, insurance approved vehicle tracking systems.
If you have an insurance requirement for a tracking system, please ensure that the product you purchase is certified, fits the required criteria and is approved. Your installer or dealer should provide you with confirmation of installation of a certified system to present to your insurance company or insurance broker.
The total operating cost of a Metatrak insurance approved tracking system including the monitoring station fee is under €16 per month. (€185 per annum).
QUESTIONS?
Why do insurance companies want approved tracking systems fitted?
It is understandable that insurance companies would opt for these kinds of certified systems as opposed to the more common ‘self-monitored’ or ‘fleet management’ based tracking systems. The inclusion of a third-party monitoring station means that it’s not simply up to the vehicle owner to monitor their own vehicle or to try and track it or recover it in the event of a theft. Where a certified tracking system is fitted, security protocols are automatically put in place to assist with the monitoring of alerts from the vehicle. In the event of theft, the monitoring station assists with recovery of the vehicle.
My insurance company has requested that I have an approved tracking system installed.
Insurance approved tracking systems will usually require 24-hour monitoring by a secure call centre. This means that security alerts from the vehicle are monitored by a third party and notified to the vehicle owner. In the event of theft, the monitoring station assists with vehicle recovery.
Insurance approved tacking systems may also require automatic driver recognition tags also known as ADR or driver ID tags. These tags add an extra layer of security in that any unauthorised driving or movement of the vehicle whilst the tag is not in the possession of the driver raises an alert at the monitoring station.
For some vehicles, insurers will require a tracking system with an added immobiliser which provides even further anti-theft defence.
My vehicle is already fitted with a tracking system from the manufacturer. Why do I need a different one?
Some vehicles already have a factory fitted tracking system installed. Insurance companies may be reluctant to accept these as they are not necessarily Thatcham certified nor are they 24hr monitored. It is also the case that every factory fitted security device is installed in the same physical location on similar vehicle models and operates in the same way. Once high-tech thieves have found ways to compromise these systems on one vehicle, they can proceed to steal many more similar vehicles using the same method. Insurance companies often show a preference for aftermarket security tracking devices as they are installed independently by dealers and professional installers. This results in each tracking device being fitted and connected in a unique way meaning that ‘would be’ thieves may have to work much harder to try to overcome or circumvent such systems on a one-by-one basis.
Who sets the standard?
With more than fifty years of experience in research and analysis, Thatcham Research is focused on risk intelligence in the automotive industry, conducting rigorous engineering-grade research in the areas of safety, security and sustainable repair. Thatcham Research is a key player in the global automotive industry.
Thatcham certification provides reassurance around the functionality, design and performance of car alarms, immobilisers and vehicle tracking systems. Insurance companies often insist on vehicle security devices which have Thatcham certification.
Insurance brokers
Where approved vehicle tracking systems are required it is important to advise vehicle owners to ensure that any tracking system which they might purchase or have fitted will meet the criteria as set out and should have insurance company approval. The installer or dealer should be able to provide a certificate of installation of an approved tracking system for insurance company records.
Insurance companies are unlikely to accept ‘self-monitored’ tracking systems as these leave it entirely up to the vehicle owner to monitor and respond to alerts from the vehicle. ‘Self-monitored’ systems also leave it up to the vehicle owner to report a stolen vehicle in timely fashion or to perhaps even decide whether to pursue the vehicle in the event of a theft. It is understandable that insurance companies would opt for monitored tracking systems.