Everything About Anti-Theft Devices and Their Impact on Car Insurance
Published On May 25, 2021, Updated On Jul 23, 2021
Read this article to understand what anti-theft modifications will do for your car and its impact on your car insurance.
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Your car is your most prized possession. Taking care of it will involve expensive bills. The best way to keep yourself safe from these financial liabilities is to invest in car insurance. Additionally, keeping your car safe is also very important. In order to do this, you can install security modifications to your car. Read this article to find out how installing security modifications like anti-theft devices will impact your car insurance.
Why Should You Install Anti-Theft Devices In Your Car?
These are the reasons why you need to install anti-theft devices in your car-
Prevention Of Theft
Installing anti-theft devices in your car will help to prevent theft by enhancing the security of the car. Installing devices like tire locks, and alarm will make it more difficult for theft to take place owing to the increased security system.
With the improved technology, anti-theft devices like car alarms raise an alarm as soon as the thief manages to break in. the thief will most likely panic in that moment and also be vulnerable to getting caught owing to the alarm. Hence, the theft will be stopped. Installing these devices will prevent your car from being stolen. Thus, keeping it safe.
Discount In Car Insurance Premium
When you install certified anti-theft devices in your car, your insurance company will reduce the cost of your car insurance premium. This is mainly because of the reduced risk owing to the devices installed that enhance the security of the car. Make sure to inform your insurance company or provider to avail this benefit.
Hassle-Free Claim Settlement
Installing anti-theft devices in your car will make it evident that you had done your part in protecting your car from theft. When you claim your car insurance, the insurance company will make sure that the process is hassle-free as it is evident that you have taken steps to safeguard your car. In such a case, you will also be subject to receive a full claim amount.
Since installing anti-theft devices prevents and stops theft, you can have peace of mind knowing that your car is safe. It will also keep you away from the trauma of losing your car. It will also avoid the fuss of going to the police station to file an FIR and coordinating with the insurance company. Installing anti-theft devices will reduce the chances of theft of your car to a large extent.
A car is a huge financial investment. Losing it could be traumatizing and also result in a heavy load on your finances. The insurance claim amount that you will receive is going to be dependent on the Insured Declared Value of your car which is a lesser amount when compared to the selling price of your car. Thus, investing in these security modifications will be a step to save yourself from financial loss.
Car Insurance And Anti-Theft Devices
Insurance companies rely on the risk factor to determine the cost of the premium and the claim amount among many other determinants. If there is low risk to your car being involved in an accident or a theft, the insurance company is inclined to reduce the cost of the premium as well as the compensation amount.
Installing anti-theft devices in your car or any other security enhancing modifications will reward you with a decreased premium amount. The insurance company will also compensate the cost of these security enhancing accessories in case of any damage depending on the terms and conditions of the policy.
Car theft is highly common in any kind of locality. It is observed to be higher in urban areas than in sub-urban or rural localities. Protecting your car from theft should be your top priority especially when you are living in an urban area. Therefore, ensure that you invest in a car insurance policy that offers complete coverage as well as anti-theft devices to keep your car safe.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.