How dash cams could save you money on your car insurance

dash cam


Dash Cams Can Save You Money on Your Car Insurance

With cash for crash scams costing the industry around £400m per year and adding around £50 to each insurance premium, are you really happy giving fraudsters some of your hard earned cash each year?

“Crash for cash” scams are often seen as victimless crimes, mainly because the fraudsters committing them believe that the victim’s insurance company will pay out and so there will be no cost to the victim. That’s not true. The money insurance companies spend to satisfy the claim results in higher premiums for all customers. It’s estimated that the average insurance premium is inflated by around £50 due to insurance fraud.

There is a way that you can help us crack down on it. Dash cams are an increasingly popular technology that automatically starts recording as soon as you switch on your vehicle’s engine. If you were to be involved in a “crash for cash” scam, having video evidence of what actually happened would prove invaluable and allow us to defend a claim made against you. Without this evidence, it is you who could end up out of pocket, face losing your no claim’s bonus and have to pay higher insurance premiums if we are unable to successfully defend against the claim made against you.

Sales of dash cams have increased by 800% year on year based on in store and online sales, retailer Halfords has reported.  Motorists are already seeing the benefits of installing dash cams in their cars. It’s not only the everyday motorist that benefits from the technology, fleet managers also benefit from ensuring that their vehicles have dashboard cameras installed. With the technology in place, fleet managers can monitor their drivers’ performance as well as ensuring driver safety. They’re also becoming increasingly popular with taxi drivers to help protect their personal safety as well as prevent bilking claims (instances where customers leave the taxi without paying the fare owed).

Tradex is a leading taxi insurance provider and if you have a dashboard camera you could be eligible for a discount on your motor insurance policy. Talk to us for further information on 020 7480 6699. 

Image c/o Paul Townsend

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Whether you are a classic car restorer or collector, enjoy it as a hobby or operate from a business premises, you are likely to have many high-end and extremely rare and expensive vehicles on your premises. Making sure you have the right motor trade insurance in place to keep your assets protected is a top priority.

If you are considering selling cars for a living, basing your business at home could be a better option to help keep overheads down while you learn more about running your own company. Putting the right car dealer at home insurance in place is also an essential source of protection for all motor trade businesses and a priority when setting up.