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Cars are most definitely, prized possessions for all of us. For some, it is a part of their collection; for others, it is a mere mode of transportation, but in any case, it serves a purpose. However, according to the report, Crime in India (Hindustan Times), Delhi alone reported over 35k cases of vehicle thefts, while Maharashtra reported over 21k cases. A worrying statistic, right?  However, the scenario is not new for car owners, they have been battling the threat for ages, and thus the need for anti-theft devices came into the picture. Additionally, due to the increase in the use of safety devices, the cases of car thefts have reduced. So, what makes this device effective, and does it impact your car insurance policy? Here’s a look into the benefits.  An anti-theft device is a technology-enabled gadget which uses various automatic and manual techniques to protect your car from theft. There are various anti-theft devices currently used by Indian car owners; some notable ones are mechanical immobilisers, kill switches, car alarms and vehicle tracking systems. Before we get into the details of how the device affects your car insurance premium, let us explore some of the advantages of an anti-theft device: 

Prevents Theft

As the name suggests, the primary objective of an anti-theft device is to safeguard your car from any theft attempts. Technologically adept, these devices perform that goal to the optimum on most occasions.

Lower Premium

The installation of the device allows insurance companies to provide you with lowered premiums during renewal or while buying a new policy. You must proactively inform your insurer about the device installation and enquire about the benefits. 

Financial Safety

A car for various people is their most prized possession, and if it gets stolen, the loss is huge. Thus, installing an anti-theft device can ensure your financial security. 

Avoiding Inconvenience

There are many things associated with the stolen car, from dealing with the misery of your stolen car to frequent police station visits for FIRs and inquiries to coordinating with insurance companies for the claim. The installation of an anti-theft device could help save you from these hassles.

Effect of Anti-theft Device on Car Insurance Premium

A car insurance policy is more than an essential legal document kept on the dashboard of your vehicle. It is an agreement between the insurer and the policyholder which states that if the insured car gets stolen or damaged due to an accident, fire or disaster (natural/man-made), the insurer will recompensate for the repair and in case of total loss (stolen car or damaged beyond repair) the claim amount will be equal to the IDV, (Insured Declared Value). Thus, if you station an anti-theft device, the extensive probability of total loss gets negated.  Therefore, installing an ARAI (Automotive Research Association of India) certified anti-theft device fetches you a discount of up to 2.5% on your annual premium from your insurer whether you buy or renew your motor insurance policy.  Numerous companies like Ford, Mahindra, and Toyota have started including these safety devices as OEMs in their high-end car segments. It is straightforward and affordable for the owner to own the device as they do not have to pay extra money for installing the device on their own.  Thus, along with protecting your investment (car), the device also gives you an opportunity to save on your annual premium. You can install any safety device based on your requirements and avoid inconvenience.

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