Saving money on car insurance: how a dashcam can save you hundreds

Drivers pay hundreds of dollars every year to insure themselves in case of an accident.

But a small device that you may already have in your vehicle could be the solution to ending insurance disputes and keeping premiums low.

“Dashcams can be super useful if there is a dispute over a claim and you want to prove that you weren’t liable for the accident,” Sarah Orr from Compare The Market tells Sunrise.

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“Most insurers will accept and encourage dash cam footage be submitted as part of a claim.”

Lower premiums

Every crash where you’re at fault can increase your premium, so having evidence of another motorist’s actions can keep price rises to a minimum.

You might also be able to save money on your premium by increasing your excess, knowing you won’t be falsely hit up for a payout.

“You can save by having a higher access,” says Orr.

Installing a dashcam can save you money. Credit: picture alliance via Getty Image

“This means that you will face a bigger upfront cost in the event of a claim, but if you’re a safe driver, you might weigh up and decide that it might be worth that risk.”

While insurers don’t currently offer discounts on premiums just for having a dashcam installed, as technology progresses, it could become integral in assessing a driver’s risk on the road.

“We are starting to say some insurers using black boxes to track driver behavior and offer discounts for good driving,” Orr explains.

“It’s definitely possible that we will see some (insurers) start to use technology and innovation to deliver good discounts in future.”

The other benefits of having a dashcam.
The other benefits of having a dashcam. Credit: Sunrise

According to Finder, having a dash cam can also stop insurance fraud, help you keep tabs on other people driving your vehicle and improve your…

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