The Surprising Benefit of Anti-Theft Devices

Many insurance companies will raise your rates in highly populated areas, because of an increased risk of damage by other drivers. It may also signal an increased risk of theft. However, by installing anti-theft devices, you may be eligible for a discount on your insurance.

Anti-theft devices show insurers that you are actively trying to prevent theft and that your risk of theft is lower. As a result, many insurers will recognize that you need less expensive coverage.

The National Association of Insurance Commissioners (NAIC) reports that states such as Georgia, New York, New Jersey, and Washington may formally encourage insurers to offer discounts for anti-theft devices. Other states are required to provide discounts.

Installing certain devices can lower your monthly premiums as much as 20%, although it depends on what anti-theft measures you take. Most vehicles are equipped with car alarms that deter would-be thieves, but other devices can be more effective.

A steering wheel lock is simpler but effective, because it can’t be removed without a key, and most people won’t want to drive a car they can’t steer. Disabling devices like an ignition kill switch shut down the car, preventing thieves from being able to start it. These devices typically get you a bigger discount on car insurance.

GPS systems are another option that can net you a discount, so you can always keep track of where your car is, making it easier to find in case of theft.

Whatever option you choose, make sure to ask about theft prevention discounts on car insurance and to compare quotes so you can get the best rate from your provider.