GPS Helps Insurers, Buyers Save Money
Location, location, location. It's been the real estate mantra for some time, but in a static way. Now the insurance industry, among others, is starting to reap the benefits of location in real time with the help of some cool technology that just happens to be free.
Orbiting above the Earth are 24 satellites for which we have Uncle Sam to thank. Part of the Global Positioning System, or GPS, these satellites can pinpoint your nearly exact location anywhere in the world. By using GPS receivers, which are available for as little as $100, the technology can identify your longitude, latitude and altitude as you move. It's great for hikers, boaters, pilots and anyone else who needs to know where they are and avoid getting lost.
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