Extremely popular in Europe and Asia, dash-mounted cameras are quickly catching on in the U.S. and Canada. If you've recently bought a new dash camera for your vehicle, you're probably wondering if it could help you save money on your auto insurance coverage. The following takes an in-depth look at how your dash cam could help when it comes to your auto insurance rates.
It Could Help You Save Money by Encouraging Safer Driving
Most people tend to be on their best behavior when they know their actions are being recorded. Having your daily commute recorded on dash cam could encourage you to pay more attention when driving, plus it can help discourage risky driving behavior that could land you with a driving infraction or worse.
Having dash cam footage also gives you an opportunity to review your own driving habits and make changes that improve your driving safety and lower your insurance risk, which in turn results in lower insurance premiums.
It Can Back You Up in the Event of an Accident
Your dash cam footage can play an important role if you happen to be involved in an auto accident, especially in accidents where it's difficult to find who's at fault. If you're unfairly found at fault initially, the footage recorded by your dash cam can provide vindicating evidence, saving you from being hit with higher insurance premiums for an accident that wasn't your fault.
Dash cameras can also be instrumental in deterring insurance fraud, especially when dealing with tactics like the infamous "swoop and squat" collision. Unlike with eyewitness testimony, the accurate and reliable footage normally recorded through a properly installed dash cam can lend significant weight to your case.
Don't Expect Direct Discounts, Though
Although auto insurance providers in other countries offer discounts for having dash cameras, providers in the U.S. and Canada have yet to follow suit. One possible reason is that the insurance companies are still waiting for concrete proof that dash cams can help prevent accidents and reduce injuries.
Before approving discounts for new safety features, insurance companies usually pore through years of data highlighting that feature's effectiveness. For example, CarInsurance.com notes that it took years of data showing the effectiveness of air bags before discounts were commonplace.
Nevertheless, there's always a possibility that insurance companies will eventually offer direct discounts to dash cam users. In the meantime, you can enjoy the indirect savings that come with using a dash cam for your vehicle.
For more information on how to lower your insurance premiums, contact an insurance company like Hamsher Insurance.