Does Installing a GPS Tracker Help in Lowering Bike Insurance Premiums?

Can a GPS Tracker Reduce Your Bike Insurance Premium?

Yes, some insurers provide a discount on your two-wheeler insurance policy premium for installing a GPS tracker in your bike. A GPS tracker reduces the risk of theft-related losses by allowing quick tracking and recovery of a stolen bike. Since insurers view this as a safety enhancement, they may minimise premiums by treating the GPS tracker as an anti-theft device.

How a GPS Tracker Impacts Bike Insurance?

Here are a few reasons explaining how a GPS tracker impacts the price of a bike insurance policy:

1. Reduces Theft Risk

   Two-wheelers dominate the theft statistics, are easy targets for organised gangs & and are exploited through duplicate keys or tampered identification. A GPS tracker allows you and the authorities to trace your bike quickly if it is stolen, reducing the insurer's risk of paying a large claim.

2. Insurer Discounts

   Some bike insurance companies may offer discounts on premiums if your bike is equipped with an advanced anti-theft device like a GPS tracker, approved by the Automotive Research Association of India (ARAI). To get the details about these anti-theft devices, click here.

3. Faster Claims Processing

   In case of theft, insurers can process claims faster since the GPS tracker provides reliable evidence of the incident, reducing disputes.

   Peace of Mind

   Even if the premium discount might be small, the tracker gives you additional security and lowers the chances of financial loss due to theft.

Do All Insurers Offer Discounts for GPS Trackers?

Not necessarily. While some insurance providers in India recognise GPS trackers under the "anti-theft device" category and offer a 5% discount on the own-damage bike insurance premium, others may not. It's best to check with your insurer or compare bike insurance online at Policybazaar.com to find policies that reward you for installing such devices.

Other Benefits of GPS Trackers Beyond Two-Wheeler Insurance Premium

It's not always about availing a discount on two-wheeler insurance premiums; there are other benefits associated with installing a GPS tracker in your motorcycle:

• Real-time location monitoring of your bike.
• Alerts in case of unauthorised movement.
• Geo-fencing (restricting bike movement beyond a certain area).
• Tracking riding behaviour for safer driving habits.