With an increasing number of cars on the road every year, driver safety is becoming ever more important. With this, car insurance rates are rising, with individual drivers and businesses finding their premiums growing every year.
Fortunately, the use of dash cams can provide a variety of benefits. These compact cameras, mounted on the dashboard or windshield of a vehicle, have become more than just a tool for capturing memorable road trips or unexpected events. Dash cams have proven to be invaluable in insurance-related matters, raising the question: Can installing a dash cam lower your car insurance? In this article, we will delve into the potential impact of using dash cams on insurance rates and coverage.
Understanding dash cams
Dash cams are small, compact cameras that are typically mounted on the dashboard or windshield of a vehicle. They continuously record the view of the road ahead and, in some cases, the interior of the vehicle. Dash cams are equipped with various features such as high-definition video recording, GPS tracking, and motion sensors. They are designed to capture a wide-angle view of the road, ensuring that important details are not missed.
The primary purpose of a dash cam is to provide an unbiased and accurate account of incidents that occur while driving. They can capture accidents, near-misses, and even unexpected events like meteor showers or wildlife encounters. With the ability to record both video and audio, dash cams offer a comprehensive perspective of what transpires on the road.
Can a dash cam reduce insurance costs?
Drivers are often ‘rewarded’ for having a dash cam by having their car insurance reduced. First and foremost, by having a dash cam installed, you demonstrate your commitment to responsible driving and provide an additional layer of protection for yourself and your insurer. To many insurers, this is nothing but a positive sign when a driver is willing to have their driving filmed. In fact, some dash cams can offer driver behaviour reports helping to further analyse and demonstrate how safe some are behind the wheel of their vehicle.
Secondly, dash cam footage provides an easy way for insurance providers to correctly identify which driver is at fault when a car accident does occur.
Benefits of using dash cams
Evidence in accidents
One of the primary benefits of using a dash cam is its ability to provide objective evidence in the event of a road accident. The recorded footage can help determine the sequence of events, identify the responsible party, and provide essential details such as vehicle positions and road conditions. This evidence can be crucial in proving innocence and protecting your interests during insurance claims or legal proceedings.
Protection against fraudulent claims
Dash cams act as a deterrent against fraudulent claims. Unfortunately, staged accidents and false claims are a reality on the roads. However, with a dash cam, you have a reliable source of evidence to counter false accusations. The footage can help prove your or your driver’s innocence and prevent unwarranted financial loss or increased insurance premiums due to fraudulent activities.
Dash cams promote safer driving behaviour. Knowing that their actions are being recorded, drivers tend to be more cautious and responsible on the road. This can lead to a reduction in accidents and near-misses, ultimately creating a safer driving environment for everyone.
Insurance premium discounts
As we’ve mentioned, many insurance companies offer discounts to policyholders who have installed dash cams. By actively using technology to improve road safety and provide additional evidence, you demonstrate a lower risk profile, which can result in reduced insurance premiums. These discounts can make a significant difference in the long-term cost of your insurance coverage.
Monitoring driver behaviour
Advanced dash cams come with features that monitor driver behaviour, such as sudden braking, rapid acceleration, or erratic steering. This can be especially beneficial for new drivers and young drivers as it allows them to provide feedback and guidance based on objective data. It can also be helpful for fleet management, ensuring adherence to safe driving practices and reducing the risk of accidents.
Why do insurance companies offer discounts for dash cam users?
Insurance companies offer discounts for dash cam users for several reasons. Firstly, dash cams serve as a reliable source of evidence in the event of an accident. This objective documentation helps insurers determine fault accurately, resulting in fair claim settlements. Secondly, dash cams contribute to claims processing efficiency by providing valuable insights into the circumstances leading to an incident.
Insurance providers understand that dash cams can provide crucial evidence that helps to establish liability and expedite the claims process. This reduces the administrative burden and costs associated with investigations and negotiations. By offering discounts for dash cam users, insurance companies encourage the adoption of this technology, benefiting both policyholders and insurers.
Reduce insurance costs with Crystal Ball
Here at Crystal Ball, we offer fleets the ability to reduce their car insurance with our 4G Fleet Dash Cam. This dash cam is ideal for businesses in need of a camera system for their trucks, cars, HGVs or vans. Protect against crash-for-cash scams, retain your no-claims bonus, and minimise the risk of your increasing your premium. It is especially great if you’re employing new drivers or young drivers.
Our 4G Dash Cam provides HD video quality to help analyse any RTA with ease. This dashcam footage is then uploaded to the cloud allowing it to be accessed by a fleet manager to help address and quickly manage any insurance issues. Our dash cam also provides a Driver ID and vehicle checklist, helping to minimise the risk of any accidents and allowing you to stay in control of your fleet.
With a built-in driver performance and scoring system, drivers are able to monitor their own driving behaviour, measuring 5 different KPIs including speeding, acceleration, braking, idling and cornering. By measuring driver behaviour, you can ensure your fleet is driving safely, protecting both your fleet and other drivers on the road as well. Our dash cam also comes with the option for a driver-facing camera for additional evidence in the case of an accident.
Installing a dash cam offers a range of benefits that cater towards not only the driver behind the wheel but everybody else on the road, too. Dash cams can help to greatly reduce car insurance as it demonstrates to the insurance companies that they are willing to take responsibility for their driving, and have their driving scrutinised if needs be. For any more questions, contact us today and our teams of professionals will be happy to help.