How a Dash Cam Can Actually Save you Money

Dash cams

What if I told you that you can save money by spending money? Your most natural reaction would be to laugh! While your reservations are justified, you can in fact save money by installing a dashcam in your car. So how can these in-car cameras save you money? We’ve compiled all the ways that dashcams save you money.

Fleet Dash Cams

If you’ve ever managed a fleet, then you’ll understand all the hassles that come with it. You have to manage car maintenance, car miles, potential road accidents, and insurance policies related to the fleet. Not only that, but you also have to make sure your money is being used for the betterment of the business, and not getting wasted by your fleet drivers.

Dash cameras come with features such as constant video input, GPS tracking, and miles tracking which allow you to be updated on all the vehicles that make up your fleet. By combining GPS tracking and video route, you can keep your eyes on the road and track the miles the car covers. This is especially helpful when there are chances of drivers using the company vehicles to carry out their personal endeavors, all on company time.

If your fleet manages goods, then there’s always a risk of theft in transit. Dashcams thwart these thefts because the possibility of video footage is a great theft deterrent. In the event of an actual robbery, your dash camera will provide the necessary footage to the authorities and the insurance company to either recover the goods or get the insurance payout for them.

Risk-free deliveries, always!

Prevent Accidents

Accidents are not only scary, but they also cost money. Dashcams bring an important aspect to driving, and that is accountability. Sure, if you are in an accident and it’s the other driver’s fault, then dashcams protect you from any claims the driver may put forward to paint you as the criminal. But what if it’s your fault? Well, knowing that there’s constant visual footage of your mistakes will prevent you from making them in the first place.

Dashcams also thwart car break-ins and parked car accidents. Most dashcams are motion-activated, which means they automatically start recording when there’s activity is detected around the car. No car or thief will mess with your car when they can clearly see the dashcam recording their every move. Imagine! Just its existence provides a different level of security for your car. Dashcams are like bodyguards, and who wouldn’t like a bodyguard?

Provide Proof Crash For Cash 

Insurance fraud, we all know what that is. Most recently, “crash for cash” schemes are getting really popular in the UK. Scammers take out multiple auto insurance policies then deliberately crash into other cars to sue the other drivers for causing the accident. According to the Insurance Fraud Bureau, the annual cost for “crash for cash” is 392 million pounds. If you were to be targeted for such a scam, an in-car camera will provide vital video footage that can protect you from losing money to such scams. 

Monitor Teenagers

Did you know? In the UK alone, 1 in 5 young drivers crashes their car in the first year of driving. A vast number of these accidents are caused by speeding, drunk driving, and mobile phone usage. Parents can’t ban their children from driving, but they can find different ways to monitor their kids to ensure their safety as well as avoid huge costs related to accidents. A dashcam provides the perfect solution to this problem as continuous video footage can be used to monitor teenage driving, and prevent such incidents.

Lower car insurance rates

Car owners well understand how hefty auto insurance payments can get. The good news is, insurance companies are increasingly recognizing the safety that dashcams provide. Now, you can get insurance discounts if you have a professionally installed in-car camera.

AXA now provides a 10% discount on their car insurance policy and another 10% discount on Nextbase dashcams to encourage safer driving.

Adrian Flux, another car insurance giant, offers a whopping 15% discount on their insurance policies to drivers who have installed dashcams in their vehicles. The discount is pretty neat, especially because of the extensive list of in-car cameras that are eligible for the offer.

Nextbase, the industry leader for dashboard cameras, has recently started its operations as an insurance provider. It offers eligible drivers 30% savings on their car insurance if they choose a Nextbase in car camera for their driving safety.

So why do these numbers matter? Well, the annual cost of insurance ranges, but these types of discounts can give you quite a lot off your premium, not to mention the added financial security in the event of an accident.

Get out of improper tickets

Traffic violations and the tickets that come with them can quickly cost you a lot of money. While traffic laws are made to create safer roads for motorists, sometimes the robotic cameras installed on highways malfunction which causes improper tickets to be issued. If you suspect you have been wrongfully issued a ticket, you can report it to the authorities and your dashcam footage will provide visual proof of your innocence.

The Bottom Line

Dashcams can help you save money because the continuously recorded visual footage acts as video evidence of the driver’s actions. It’s especially useful to fleet managers to avoid racking up unnecessary costs and provides another level of safety to goods in transit. Dashcams monitor your teenager’s driving skills which bring accountability to the table and help prevent accidents from ever happening. They also help avoid criminal and fraudulent activity by catching “crash for cash” schemes and thwarting attempts at break-ins and vandalism. Lastly, they get you out of wrongfully issued traffic tickets and keep your insurance payments low.