Many Aussie drivers have a dash cam installed in their cars to help them protect their cars and belongings. The camera records events on the road through the front windscreen and possibly other windows in the car. A dash cam is helpful because it can record events such as road rage, accidents or theft where the footage can help you make claims or police reports.
Besides Compulsory Third Party (CTP) car insurance, many car owners in Australia also purchase additional car insurance to protect against other incidents. These additional insurance policies may come at an added cost. If you have a dash cam, you may be wondering if this can help you to get a discount on your premium? Unfortunately a dash cam doesn’t help lower your premium,, but that doesn’t mean that they can’t help with insurance in other ways.
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No car insurer in Australia will offer you a discount on your premium because you have a dash cam installed. There are many factors that insurers consider when calculating the premiums they charge, but dash cams don’t prevent accidents from occurring.
However, insurers may accept dash cam footage as part of a claim to show evidence of what happened in the event of an incident. This may help to determine the party at-fault. You should remember that the footage is not the only factor that insurers will take into account. They’ll also speak to the other party and eyewitnesses. So, it is a useful piece of evidence but not the only proof.
A dash cam can help you in many ways. You’ll find multiple dash cam options in the market with different features, so choose a model that fits your budget and the features you want. With different models available, you’ll likely find that the video quality and functionality might vary, so it’s best to research the features before buying. Here are some compelling reasons why adding a dash cam to your car may benefit you.
The most common reason drivers purchase and install a dash cam is that the camera records live events. So if an accident or any other mishap occurs, the recording can act as evidence of what happened. This can be helpful if an accident is contested or you’re involved in some sort of road rage incident or theft. Police and insurers often accept the footage as evidence of what happened but will also seek out other evidence.
Most dash cameras have an in-built speed monitor. This means you can easily check your speed if you’re unsure of the speed limit and get alerted if you’re going over. According to NSW’s road safety data, speed is a factor in 41 per cent of road fatalities and 24 per cent of injuries per year. Not only is speeding a risk to you but to others on the road, so if you can monitor your speed and prevent going too fast, you’re less likely to have an accident. This will keep your driving record clean and help reduce your car insurance premium by default through a no claims discount.
Most dash cams in the market also include a feature that can help to prevent collisions. The camera continuously scans the road ahead of you. If it senses an object, it will calculate if you’ll collide with the object. It will alert you to the object and if it doesn’t sense you slowing down, indicating you’ve seen the object, the camera will alert you to the risk of collision. The same feature also helps avoid collisions when you’re parking your car. The camera will calculate the distance between your rear bumper and objects behind you, notifying you if the car is too close.
Although there are no dash cam car insurance discounts available in the market at present, there are other benefits to owning a dash cam. Some of the features may help you to be a safer driver, which could help you reduce your car insurance premium through a no claim discount.
This article was reviewed by Peter Terlato before it was published as part of RateCity's Fact Check process.
