Discounts Car Insurance?

To determine whether automobile insurers in the United Kingdom offer discounts if car owners installed security components for their vehicles, such as alarms, immobilisers and GPS location at its own expense, I "I started checking a site valuable comparison with the quotations on a Opel Corsa and the 525th BMW During the application, the site offers hope to the statement: "Have you approved alarm fitted could reduce your premium by up Thatcham 10%? ". Thatcham with the industry body responsible for reviewing and evaluating safety features for new cars and products. We received bids for two cars on a selection of security options and the Corsa now has more than 2% when a Thatcham Category 2 were Tracker option is selected, while the cheapest discount BMW has remained unchanged. It was not a good start.

I went, as he considered the first country car insurance companies and brokers, among them account for more than 50 popular brands of car insurance in the United Kingdom, the following:

Do you offer discounts for car security products?
If so, what are the manufacturers and products?
What the pilot can receive the appropriate discounts?
Are there any restrictions or conditions in the vicinity of these discounts?
Overwhelmingly, the answer is "No" to our first question was relevant to the rest. In addition, many insurers said that they not only offer discounts for security car if the car is not already in some of them a potential customer can not even offer one.

An artist from the first insurer who does not want to be appointed, she said, "no discount if you by a safety device. Maar, entitled to a fully comprehensive policy, volgens place where the customer resides, where his car parked and the type vehicle, an assurance would be needed. "

I had a handful of insurers that they are attached to products to offer discounts, but they were not the details of cuts to be removed at any time. Another insurer who chooses not to be called, said: "We have currently some offer discounts for security products in addition to the standard security measures in the vehicle. However, we do not eat because thesis discounts the moment to encourage because they have to be reviewed after the short ratio to the reduction or elimination. I am unable to confirm what we have to offer discounts on products or if we have borders. "

Norwich Union is the only insurer that all of our questions, showing that discounts offered on the immobilization of the secondary market of 2-5% and 5% for tracking systems. If a tracker is installed, then drawing with the supplier and all equipment must be operated by a plumber VSIB equipped. Unfortunately, the answer Norwich Union was the exception, due to a disappointing degree of clarity on this point, no industry standard.

This is surprising, such as vehicle crime remains a major problem in Britain because there are more car thefts and burglaries 1.3M1 last year, with the latter even increased by 1% over the years. Moreover, the financial impact of the stolen car is important, because it takes the average victim of a theft of £ 3,000. This has led to car owners in the UK spends about £ 315M2 per year on security products to save.

The latest British Crime Survey Home Office reported that these products are effective as a car, up to 70% less likely to be stolen, then with one. In addition, many products from Thatcham, which is shared by car manufacturers and insurance approved in its possession, which means that insurers are in fact approved the products themselves.

Some insurers referred me to the ABI (Association of British Insurers) and told me to brief them on this issue. Derek Fawell, political adviser to the ABI Motor Insurance, said the ABI in determining insurance group of new vehicles which take into account the safety of the car as he came from the factory participated, each insurer has the power, after offering discounts on the market that they deem necessary. "

So why not the insurance company? One important reason is that the UK motor insurance industry is a highly competitive market. The ABI reports that nearly one third of all general insurance in the United Kingdom, 10300000000 pounds in net premiums written in the 2006 accounts. Moreover, it is not the most profitable line of insurance that more than one sixth of the private car drivers make each year, equivalent to 18.7 million pounds in compensation payments every day! This leaves insurers in a predatory business need for its sales and margin targets to maintain or increase market share, which is a very sensitive issue.

But discounts will differentiate products suitable vehicle safety in a way that an insurer would offer a highly saturated and attract more customers to help subsidize some of the revenues, costs, safety of vehicles on the road and make life difficult thieves. In the longer term, increase profitability by reducing the insurer's claims and radiation, while many of the cars they were assured of a better protection.

I think the owners of vehicles should receive discounts on their services if they agree on additional products for the security of their vehicle at their own expense, that investment ultimately benefits from the insurer. In the case where the reduction of premiums offered, greater transparency about their products and offer prices that result. It would be easier for car owners is to make an informed decision to protect their vehicles, or motor insurance.

So next time you car insurance or a product safety, research, ask your insurer a discount for installing them, and if so, the supply of the product and consequently reducing the amount. It's a simple concept, which currently is mostly fiction and fact a.

1 Home Office, British Crime Survey 2006/07, England and Wales

2 Report of vehicle security market in 2007 Key note Publications Ltd, February 2007

Results

First you offer discounts for car security products?

Yes = 8%

N = 92%

2nd If so, what are the manufacturers and products?

Thatcham approved engine immobilisers and / or alarms
Thatcham Cat5 CatQ devices and monitoring
Varies according to the manufacturers
Unfortunately, this system generated and is not shown as part of the customer display, so we will not be able to use these data are discussed
What can the third pilot to receive appropriate discounts?

2-5% for immobilisers
5% for tracking systems
4th Are there any restrictions or conditions in the vicinity of these discounts?

If a tracker is installed, the subscription, the supplier alternative equipment must be maintained, was installed by professional installers VSIB

* Report includes 62 car insurers (by Moneysupermarket.com quotes and find interviews with insurers)
* 5 discounts for Auto Safety Aftermarket Products

* 57 insurers do not offer discounts

* ABI estimates the total market for UK car insurance from 80 insurers, including Lloyd's of London Union (each insurer would have several brands