Dash cameras have experienced increasing popularity in the past few times. Low costs and high image quality have made this technology accessible to all as well as a rising popularity of the footage posted on social media platforms has led to increasing the number of users posting their material.
Dash cams or dashboard cameras are inexpensive video cameras that record footage as you drive. Most cameras can be found at both the rear and front of your car which means you can film from both sides while driving.
Does dashcam impact car insurance rates?
Yes, a dashcam can impact car insurance rates in some cases. While it may not directly lower your premium, many insurance companies offer dash cam insurance discounts or incentives for drivers who use dashcams. In 2024, a U.S. insurer to advertise direct dash cams to offer discounts for car insurance is an Ohio-based insurance company known as Branch Insurance.
Dash cams serve as surveillance devices and are a secure and easy way to record on-road footage to use for personal purposes. In general, using dashcam won't affect the cost of your car insurance in a negative way.
How Do Dash Cams Impact Car Insurance Rates?
While a dashcam doesn't directly reduce insurance premiums generally these devices can significantly impact your insurance coverage in various ways.
Making a note of the accident
The claim process after an accident is extended due to the challenge of proving what happened. In a typical claim, even without cameras on your dash, it is required to favor an account of what occurred as well as any photos you may have taken on the spot.
Claim specialists will evaluate that assertion with those of other witnesses and drivers and also the police report. In many instances it is difficult to pinpoint the exact circumstances that led to the collision -- and determining the person responsible -is a process that can consume much time and resources.
If you have a dash camera that captures footage of the accident as well as the period preceding it, the evidence from the video can speed up the investigation and result in a quicker settlement of the claim.
Combating insurance fraud
Insurance fraud in the car is a growing problem that can be solved by using a dash camera. If someone attempts to include you in a fake accident to obtain an untruthful claim settlement it could turn out to be catastrophic and result in many thousands in court costs as well as increased insurance rates.
A video recording of these events could benefit your reputation. If you suspect that you've been involved in a car insurance fraud, then you'll likely need to notify the law enforcement agency and provide any evidence of video within the shortest time frame possible.
Making you a better driver
A dash cam doesn't directly impact the amount you pay for insurance on your car, however, becoming a more secure driver could. Monitoring your driving using the aid of a dash cam can improve the awareness you have of what's going on on the road and help you develop defensive driving habits which can lower the chance of getting into accidents.
Serving as acting as a security camera
While car accidents are always an issue when driving, enough incidents that cause damage to your vehicle occur in being parked. If your insurance policy for your car provides full coverage, then any incidents that cause damage to your car, like vandalism, theft, trees falling over, and fire-related damage are typically covered.
A dash cam that is hardwired so that it records even when the vehicle is not in use could record these moments as well as offer additional videos to back an insurance policy.
If you reside in areas that are rural and in which crossing wildlife is an issue, a dash camera to document the exact time of the collision could benefit the insurance claim. To submit an insurance claim like this typically, you'll need to be covered in full by your insurance policy.
Do all insurance companies offer a dash cam insurance discount?
Not all insurance companies currently offer a dash cam insurance discount to their policyholders, but this is a growing trend. While some insurers provide discounts or incentives for using dashcams, it’s not a universal policy.
The availability of such discounts varies by company, region, and specific insurance plan. Some insurers recognize the value of dashcam footage in accident claims and fraud prevention, while others may not yet offer a formal discount.
As dashcams continue to prove their value in accident claims and fraud prevention, more insurers are expected to embrace this technology. While some companies already offer incentives for dashcam use, others may follow suit shortly.
It's worth checking with your insurer to see if they offer a discount or plan to introduce one soon, as dashcams become more widely recognized as a tool for enhancing driving safety and accountability.
Additional benefits of dash cam installation
Installing a dash cam offers several additional benefits beyond accident recording. It can serve as a deterrent to vandalism and theft, as potential criminals may be discouraged by the presence of a camera. Dash cams also help reduce the risk of insurance fraud by capturing clear evidence in the event of staged accidents or false claims.
Moreover, having a dash cam provides peace of mind, knowing that your vehicle is being monitored and protected at all times. This added layer of security can be especially valuable for protecting both your car and personal safety.
Conclusion
Dashcams offer valuable benefits, including accident recording, fraud prevention, and enhanced vehicle security. While not all insurance companies provide dash cam insurance discounts, the trend is growing, and the devices are becoming more recognized for their role in improving safety.
Choosing the right dashcam, like those offered by Hainatech, ensures high-quality footage, reliability, and additional protection for your vehicle. Whether you're looking to document driving incidents or deter theft, Hainatech dashcams are designed to meet individual needs and provide peace of mind on the road. It's a smart investment for both personal security and potentially reducing insurance complications.