Does an anti-theft device help in reducing Car Insurance costs?

Car Insurance

Vehicles are very valuable. That is precisely why they must be safeguarded. The installation of anti-theft technology increases the car’s security while simultaneously cutting insurance premiums on the vehicle. Since anti-theft devices have been installed in India, car thefts have dropped dramatically. 

Due to the lower number of theft claims due to such devices being installed, third party insurance companies give considerable discounts on premiums.

How anti-theft devices affect the cost of Car Insurance

An anti-theft device is a device that keeps your automobile safe. From locks to alarms, there are many different sorts of anti-theft systems. Anti-theft gadgets and third party insurance have a significant relationship. As long as the terms and conditions are followed, an auto insurance policy is nothing more than an implied guarantee to aid the insured financially if anything wrong occurs to the vehicle.

If nothing happens, the insurance company is not bound to pay the insured. As a result, it is in the insurer’s best interests to protect the covered asset, which is the insured automobile in this example. A car’s theft deterrent and location tracking capabilities are all provided by anti-theft equipment. Because of this, insurance companies encourage their clients to install anti-theft devices in their cars.

Automobile insurance companies recognise and reward responsible drivers by offering reductions on their premiums. It may accomplish its goal by using a variety of technologies. It’s worth noting that in India, anti-theft devices must be verified by the Automotive Research Association of India (ARAI) to qualify for an anti-theft reduction on auto insurance premiums.

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What are the benefits of installing an anti-theft device?

By using various technologies, an anti-theft system protects one’s automobile safely. The following are the advantages that may be gained through the installation of anti-theft devices (ATDs):

Stopping theft: The existence of an anti-theft device may offer enough time for action to be done to prevent the theft. While this isn’t an absolute deterrent, it may at least make the criminal think twice about targeting your vehicle.

Discount on car insurance premiums: One must tell the insurance company about their purchase and installation of ATD to purchase third party insurance coverage. It is similar to when someone put an anti-theft device in their vehicle and alerted their insurance provider of the installation. As a result, they received a reduction on his next coverage payment.

Easy claim settlement: Since taking all reasonable steps that you could have, to ensure the safety of your vehicle, any future claims will be handled smoothly, as the insurance company will be aware that you could have done nothing more to avoid the theft of the car.

Avoiding inconvenience: By taking the proactive action of installing an anti-theft device, you may prevent the difficulty and hassles involved with approaching the police station to register an FIR, making claims with the car insurance and other related activities.

Financial safety: Because of the deductibles and depreciation, the amount you would get from the insurance provider will not be the same as owning your automobile. You would prefer to do all in your ability to avoid an incident from occurring rather than reacting after it has happened.

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What are some of the most popular anti-theft devices?

From an ignition cut-off to a satellite tracking system, a wide variety of safety measures are available on the market. You may choose an anti-theft gadget depending on your needs and the hazards you want to avoid. If you are vacationing in areas where thefts are common, you should upgrade your vehicle’s safety systems. Various sorts of safety devices are available. Some of the most common anti-theft gadgets are listed below:

Electronic Immobilisers: Many automobiles sold nowadays have conventional keys with electronic immobilisers. Using the keys’ microchips, you can control the fuel pump and ignition systems with the correct signals. The ignition will only operate if and when the system receives the proper signals.

Mechanical Immobilisers: This is the most widely used and least priced safety gadget on the market. These mechanical immobilisers should be used with other anti-theft measures whenever possible. Hood locks, steering wheel locks, tire locks, crook locks, gearshift locks, and various mechanical immobilisers are available.

Vehicle Alarm: Like many others, this is a standard safety feature included in most new automobiles released by automobile manufacturers. If the vehicle is tampered with, an alarm will sound to alert the owner of the tampering. Everyone in the immediate proximity of the car will be alerted to the situation by this.

Satellite Vehicle Tracking Systems: Using the Global Positioning Technology, this system will inform the vehicle’s owner of the vehicle’s current position in real-time (GPS). Vehicular tracking systems are often quite successful, and they may be used to track down and retrieve a stolen car within an hour of the theft.

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Anti-theft devices are cheaply priced, and they have the potential to reduce insurance premiums dramatically. Many warning systems may help reduce the probability of an automobile being stolen even if it is practically impossible to prevent one from being stolen. The primary purpose of anti-theft devices on a vehicle is to prevent theft.

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