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Why premium discounts offered to car owners who have installed anti-theft device?
Posted on: 12/Jul/2018 4:50:33 PM
Quite righty, the car insurance service provider considers the car owner who has installed anti-theft and other security devices as a more responsible and wiser person. Note that the vehicle is protected from vandalism and theft with this. So, the car insurance provider is obliged to offer some reasonable discount on the car insurance
Also, the statistics on the cars with anti-theft devices indicate that the number of thefts is far lesser as compared to the other category (without anti-theft devices). The car insurance providers benefit to a large extent with these cars and encourage more generally, the discount offered is around 2.5% up to a maximum of Rs. 500. Note that the discount on offer is only for the own-damage part of the annual premium.
How to choose the ideal anti-theft system?
Check whether the system is approved by ARAI (Automobile Research Association of India). The ideal time for fitting the anti-theft device is at the start of the policy coverage. Note that in case it is done in the midst of the coverage period, the discount will be lesser as it is applicable only to the remaining period of the coverage. In case any premium discount has already been availed by you, the details must be given during renewal.
Note that most of the latest cars come fitted with anti-theft devices. Some older cars will not have this so, it is better to get it fitted separately. The details of some anti-theft devices in the market:
- Steering wheel lock - locks it in place
- Car alarm lets an alarm to draw attention in any break-in attempt for theft
- Tyre locks prevents vehicle movement
- Hood Lock Protects the car parts and the battery from theft
- Kill switch on activation, shuts down a section of the electrical system
- Vehicle tracking system DriveSmart is offered by Bajaj Allianz, working on the principles of telemetric. Details (real time info) such as diagnosis, driving summary, and safety parts are provided.
