Save Money on Your Car Insurance

Can fitting a car camera really save me money on insurance?

In a word, YES! Insurance companies nationwide are in constant talks about the possibility of offering discounts to motorists who have installed a camera in their vehicle. Dash cams are widely used internationally, but having one fitted in your car or van in the UK is still relatively uncommon, however, some UK companies have already started to offer substantial discounts of up to 15%. Due to the way the industry works, insurance disputes are often settled on a 50/50 (Knock-for-Knock) basis, whereby, to save time and money, both insurers will agree to split the costs, this can lead to both parties incurring loses to their no-claims bonus and undoubtedly having to face higher insurance premiums, not exactly the fairest outcome for an innocent policy holder involved in an accident! Drivers can now use the video footage to prove that they were not at fault; it not only gives them irrefutable evidence but can also help the police to convict dangerous drivers as well. As more and more motorists start to embrace this new technology it will start to provide a valuable record of the circumstances that occurred in and around an accident, this will help reduce personal injury claims which, in turn, will ultimately reduce the cost of insurance for everyone. Substantial savings will also be made by the insurance companies, as viewing this type of evidence will allow them to process claims with a lot more speed and efficiently.

“If you have a dash cam fitted, you’re more likely to be a safer driver”

At this moment in time, the insurers that are offering these discounted policies believe that, if you have a dash cam fitted, you’re more likely to be a safer driver. Recent research also found that installing a car camera significantly improved a driver’s behaviour, and that almost 40% of all motorists surveyed said “they would feel safer when driving with a camera installed”. In an ideal world these are precisely the type of customer that insurance companies are looking to insure.

Within the insurance industry there are many cases where premiums have often reached thousands of pounds for just a single year’s cover; with this in mind the savings you could potentially make would cover the cost of the camera within the first year. Once you have a car camera installed we would highly recommend that you inform your insurer as soon as possible, especially if you are expecting to negotiate a new policy. It is also worth mentioning that some insurance companies will only offer a discounted policy if you have a specific make or model of camera fitted, so please bear this in mind and make sure you discuss any details directly with your insurer before purchase.

Looking forward, we believe, as increasingly more drivers begin to install and use camera technology; many more insurance companies will also start to offer discounted rates to its policy-holders. In the meantime, if you are lucky enough to already have a car camera fitted, we have found that, and already have discounts in place ranging from 10-15%.

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