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Save your car and on your insurance premium with anti-theft devices!

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Published on November 26, 2020. EST READ TIME: 3 MIN

Cars are the most loved possessions of their owners. If you are a car owner, you must understand why everyone protects his or her car as if it is a newborn baby. The fact that cars are so expensive also makes them very prone to being stolen. Not everyone can afford to have a locked garage overnight. There is also the risk of daytime car theft from markets and even ticketed parking lots. This is the reason anti-theft devices are always in high demand. If you are in the market for a car safety device, there are a number of choices you can explore:

Steering and gear lock devices: These are the most basic and affordable car protection devices. You can have either or both installed in your car. A steering lock jams the steering wheel in place. A gear lock jams the gear stick while locking the car in reverse. Thus, any attempt to move the car around is thwarted.

Wheel locking clamp: This is an external device to lock one or more wheels of the car in its place. It immobilizesthe car where-ever it is parked and any attempt to move the car will create quite a racket thus attracting the attention of people around, forcing thieves to flee.

Anti-theft alarm system: This system involves pressure and vibration sensors mounted on the doors, bonnet and boot of your car. When you lock your car, the system gets armed automatically. If someone tries to open any door of the car without first disarming the alarm, the system will create loud noises and, in some cases, even cut off the fuel supply to engine to immobilizethe car.

GPS based geofencing and immobilizer: These devices plug into your car battery and work with GPS signals to track car location. You can define a geographic area and if the car leaves that area, the safety system will immobilize the car. These are of course much more expensive than other devices.

Benefits of installing anti-theft devices

Getting an anti-theft device installed in your car brings you many benefits.

• Firstly, it keeps your car from being stolen.

• Secondly, modern systems like GPS trackers also allow you to track your car if it does get stolen by other means

• Thirdly, it can also help you to locate your cars in overcrowded surface parking lots by making the car do alarm checks.

• Fourthly, you get a rebate on your car insurance premium.

Impact of anti-theft devices on car insurance premium

The fact that you have a car safety device installed also helps the company which will sell you the car insurance policy. The company can categorize you as a safe customer who takes every precaution to prevent any damage or loss to the car. As per current Insurance Regulatory and Development Authority of India or IRDAI policy, any car with an Automotive Research Association of India (ARAI) certified anti-theft device will be eligible for a 2.5% discount on the car insurance premium. This discount is applicable for both online and offline car insurance renewals.

Conclusion

To summarise, by spending just about Rs. 1,000 to 2,000 to install a safety device in your car, you can get peace of mind and save money as well. With a discount on car insurance policy, the device will pay for itself in just 2-3 years.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

Mr. S.Gopalakrishnan recommends "HDFC ERGO for your vehicle insurance needs, it has always put customer’s interest at the forefront, with round the clock assistance to deal with emergency breakdown issues and hassle free claims process. You can be assured of complete and reliable guidance through the whole process."

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