Monday, April 3, 2017

Dashcam Discounts on Car Insurance

For awhile now I have been trying to convince my wife to get a Dashcam (aka Dashboard Camera) for her car that records her driving - and records what happens during an accident, likely proving that other drivers were at fault.

For car insurance purposes Dashcams provide the insurance company with a way to make the other person end up paying for the damages. (And consequently the other insurance company.)

For providing proof of who was at fault during a car accident, even if the owner of the dashcam is at fault, it justifies raising their insurance premiums - however statistically the people who buy dashcams tend to be rather safe and conscientious drivers. They know they are being watched by their own dashcam, and thus behave responsibly.

Thus it makes good sense to offer a discount to car drivers who use routinely use a dashcam. (At some point in the future, all cars might automatically come with a dashcam, just like they all come with seatbelts and other safety features.)

Also, Dashcams reduce the likelihood of people committing insurance fraud. So that is a bonus reason for insurance companies to provide a discount.

However not all companies provide a discount to owners of dashcams.
eg. TD Insurance does not provide insurance.

TD Insurance does provide a discount if the car owner has an approved after-market anti-theft system or an approved anti-theft etching system.
But nothing for Dashcams.

Which is disappointing because TD Insurance is my wife's source of car insurance.

So either I need to convince TD Insurance to provide a discount for Dashcams... or I need to convince my wife to switch to a car insurance company that does provide a discount and equitable insurance coverage.

There is another problem too.

So far very few companies in Canada do actually provide discounts to drivers who have a dashcam. A few do, but it isn't anywhere near an industry standard.

Which means consumers need to be doing a better job of ASKING for a discount.

And then saying "Oh, you don't provide a discount to people with dashcams? Oh. I guess I will find a different insurance company."

As it currently stands I am thinking of contacting TD Insurance to ask the following:

"Hello! I am trying to convince my wife to buy a dashcam. She is already a TD customer. Does TD Insurance provide a discount to drivers who have a dashcam?"

I already know the answer is no. But when they say no, I will say: "Oh. Okay. I will tell her to switch companies then. Goodbye!"

It is then implied that TD Insurance just lost a customer.

If enough people do what I am talking about, insurance companies will suddenly realize they should be providing a discount. It makes sense since it is in their own best interest to save costs. Even a small discount makes sense.

There are many Dashboard Cameras available on the market. I have not reviewed any yet, as I obviously still need to convince the wife that we should buy one in the first place.


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