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Risk Management Bulletin


By January 1, 2013No Comments

Many companies protect their vehicle fleet or pricey mobile equipment by using such traditional theft prevention techniques as removing fuses, hiding fuel shut-off switches, disengaging or removing components, or providing locking devices. Unfortunately, these precautions probably won’t stop professional thieves or those equipped with a mobile crane and a flatbed truck.

Vehicle tracking technology can help. Some systems use GPS satellite technology that provides 24/7 online customer monitoring with full-color maps. Others employ cellular phone technology. A few firms combine GPS and cellular systems, which combine the best features of each and provide backup. Tracking systems offer automatic notification if a unit is moved without authorization. Stolen vehicles are frequently recovered within one to two hours, significantly reducing the likelihood of damage to them.

Two reputable companies that offer vehicle-tracking systems are LoJack (Westwood, MA) and the Clifford Alarms unit of Directed Electronics Inc. (Vista, CA).

More and more businesses with substantial equipment values or sizable vehicle fleets are installing these devices. Some insurance companies require them. Reducing loss frequency and severity of business vehicles and contractors’ equipment will help both owners and insurers – a classic win-win scenario. For more information on using these systems, please get in touch with our agency’s risk management professionals.