Vehicle Tracking Is Now a Necessity in Finance and Insurance

Vehicle trackers are now a needed requirement when buying a car through asset finance. Insurance companies are also requiring vehicle owners to have a valid licensed tracker to insure against theft.

Vehicle tracking systems are now considered priorities within the financial industry for products related to motor vehicles. Vehicle tracking refers the installation and use of a smart device within the vehicle that enables the monitoring of vehicle location, speed and other activities through mobile apps or computer software.

Vehicle tracking helps asset finance institutions confirm the location of the collateral vehicle in case of need for repossession. The tracking system is also accessed by the vehicle owner for daily monitoring and enhanced security of the loaned asset. The tracker has to be installed within the vehicle by an approved tracking company before the loan is processed.

Insurance companies have come to appreciate the use of vehicle trackers in the insured vehicles. The trackers help in insurance claims investigation and reduced risk of theft claims for comprehensive insured vehicles. Some companies are currently not accepting theft claims where the vehicle lacked a valid car tracking system. Some insurance companies penalize vehicle owners without valid car trackers when theft claims occur by deducting a large amount usually 20% of the vehicle value.

Finatrack Global Ltd is a licensed provider of car tracking services in Kenya that has partnered with Cooperative Bank of Kenya, Family Bank and Kingdom bank. The company also offers valid car tracking certificates for all general insurance companies in Kenya.

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Take advantage of the ongoing vehicle tracker offer:https://finatrack.co.ke/may-tracker-sale/