How a dash cam can help you save on car insurance
Are you among the one in ten Canadian drivers who has a dash cam installed in their car?1 As car safety technology continues to advance and more gadgets become available, dash cams are becoming an increasingly popular topic of conversation. With the average retail price upwards of $100, many drivers are wondering if installing a dash cam is worth it.
While most insurance companies in Canada do not currently offer a discount for having a dash cam installed in your car, your dash cam’s footage could indirectly result in big savings – including preventing increases to your car insurance premium. Here’s how:
1. Determining responsibility in a collision
In the unfortunate event of a collision, your dash cam footage can act as an additional witness to help determine who was involved and who was at-fault. Your dash cam footage will provide a glimpse into what happened before, during and after the accident to determine how responsibility for the collision should be assigned. Even in a no-fault insurance system, an at-fault accident can lead to an increase in your insurance premium. Having dash cam footage to prove you were not at fault could save you from a premium increase – especially when there are conflicting testimonies from the drivers, cyclists or pedestrians involved.
2. Fighting traffic tickets
Receiving a ticket for a traffic violation could cause your car insurance premium to increase, depending on the severity of the infraction and the number of tickets on your record. Your dash cam footage can be used to help dispute a driving ticket if it was issued in error and remove it from your record – avoiding a fine and an increase in your premium.
3. Catching incidents of fraud
Car insurance fraud rings and staged accidents are an unfortunate reality and a danger to everyone on the road. Having a dash cam installed in your car could help to protect yourself against car insurance fraud, as the dash cam’s footage can show the real story of what happened. Not only will catching the fraudsters in a lie save you from adding an at-fault accident to your record, but it will also help to reduce the number of fraudulent claims made overall. Fraudulent car insurance claims can lead to increased premiums for everyone, so taking preventative measures against fraud can help to limit the cost of car insurance for all drivers.
4. Improving your driving
Whether you recently received your license or are a seasoned driver with years of experience, reviewing your dash cam footage can help to improve your driving skills. Watching the recording can help you identify areas for improvement and understand what you can do better in the future. Remember, it pays to be a safe driver. Many insurance providers will offer discounts for drivers who have had no traffic violations in the last three years.
If you want to get a quote for car insurance, call a TW Insurance broker today at 1-888-338-2685.
1. Huffington Post