Vin Verfication is a new method of vehicle tracking in use for several years. By comparing the serial number of an unknown vehicle with the VIN code printed on the vehicle registration, the system can determine if the vehicle belongs to an unauthorized driver. This enables insurance companies to reduce their loss ratio by reducing fraudulent claims. The American automobile insurance Association estimates that the savings to insurers from this method alone could be up to $600 million annually. see here
In order for a car or other vehicle to be linked to an individual, a driver’s license must be presented for proof. When this is the case, drivers must provide a copy of either their driver’s license or the VIN verified document. With newer model years of vehicles, manufacturers are adding electronic chips to their vehicle identification cards (VIC). These chips can store up to eight digits, including the VIN verification data. If the card is lost or stolen and the access code is used by someone else, the chip can be accessed to retrieve all of the necessary information.
Another major benefit is that car and fleet owners are able to monitor where their vehicles are located at any time. This is particularly helpful when traveling on vacation. For instance, if a driver is using a rented vehicle but is stopped at a red light, the GPS tracking system can determine the exact location. Upon return to the vehicle, a trip log can be downloaded to determine the vehicle’s current whereabouts. This is useful in a variety of situations, ranging from tracking down stolen vehicles to finding a vehicle involved in an accident. Vin Verfication may not be popular with every vehicle owner, but its usefulness to insurance companies and to consumers make it one of the best available options in vehicle tracking systems.
Quick VIN Verification
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