Significance of Anti-Theft Devices in Car Insurance Rate Reduction

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Car Insurance Rate

Insurance has slowly yet steadily become an important part of our modern-day lives. For example, life insurance, health insurance, and car insurance. Among these, car insurance is mandatory for every vehicle owner. And since it is mandatory, it becomes essential to take the right coverage at an affordable rate. In this article, we let you in on a little car insurance secret that will help you to save money – installing an anti-theft gadget. Read on to know more.

The importance of an anti-theft gadget

As mentioned above, such devices help you to save money when you buy car insurance online. How do you ask? Let us find out:

  • The relationship between safety and insurance: Insurance is nothing but a risk coverage. A motor insurance plan is bought with the motive of ensuring the vehicle against perils. If your car sustains damages, the insurer pays the repair costs. If your car is stolen and needs replacement, the insurance provider reimburses you for the same. This is a risky proposition for the insurer and they charge the car insurance premium accordingly. But if the vehicle has an anti-theft device installed in it, the chances of theft are reduced by a large degree. This makes it less risky for the insurer, who then offers a discount on the premium. So getting such a gadget proves to be financially beneficial.
  • Protects your vehicle: You may have the best car insurance cover in place, but you still would never want your precious car to be stolen, right? Do your bit to keep it secure when you are not using it. Park it only at designated places. Apart from this, you should consider installing an anti-theft device too.

Getting the best devices

There are many different types of modern safety gadgets that help to keep your car safe and your car insurance premium low. Some of them are as follows:

  • Steering wheel lock: You can get a lock on your steering wheel. Even if a thief breaks in, he can do very little as the steering wheel will stay put and not move an inch!
  • Control locks: How can someone drive away with your car when the brake, clutch, and accelerator are locked? Use these inexpensive control locks to keep your vehicle safe.
  • Wheel locks: These are bulky clamps that you clip on to the tires when the car is parked. They are similar to the ones used by the traffic cops. They are effective as the mere sight of them is enough to repel the thief away.
  • Tracking device: A vehicle tracking device is like a GPS system that always tells you where the vehicle is. It is effective as it helps to instantly track down the car.

Install the most suitable of these devices and inform your insurance provider when you buy or even renew car insurance online. It is important to proactively communicate this information to your insurance company so that they are aware of the anti-theft device installed in your vehicle. You will be able to make some savings on the premium thereafter. Make sure to install anti-theft devices that are certified by Automotive Research Association of India (ARAI).

Protect your car and reduce your insurance premium

To put it in a nutshell, an anti-theft device keeps your car safe and reduces your car insurance costs as well. Most of these devices are inexpensive so you have every reason to get them. Some of the modern-day car models come with in-built safety gadgets. Check with your car dealer when you are about to buy your car. If there aren’t any such gadgets installed in the vehicle, you can buy them yourself. In case of an existing car without anti-theft gadgets, you should install the best-suited one for safety.