There are many ways to maximise the battery life on your GPS.
1. The simple rule of thumb is more reporting = more battery consumption. Reporting less often, increases the battery life (for example longer intervals between location updates)
2. To get a good battery life we recommend switching on Optimised for Battery mode - to understand this feature, please read Understanding GPS modes - Optimised for Battery VS Responsiveness
However, this does sacrifice the responsiveness of the device e.g. the ability to change settings/request location on demand instead of reporting only as per your desired schedule.
Therefore, we recommend you pair the battery optimised mode with the motion sensor as it can wake up the device too. This way, you can choose longer gaps between reporting for example, reporting once a day as opposed to every hour, and should your device move, you will also capture that - so it's a win win. This is best for keeping valuables that are typically stationary or stored/parked etc.
3. To get the absolute maximum battery life, you will need to switch on Motion Only Mode. Motion Only mode only works using the motion sensor (and nothing else!). It does not report on a schedule. To understand this mode, please see Using Motion Only Mode