In-cab cameras have become increasingly popular over the past few years, and with good reason—these devices can protect drivers by providing clear proof of fault in an accident.
However, some companies offering in-cab cameras may lead you to believe that they’ll reduce your insurance premiums, which isn’t always true.
But these policies are typically offered by smaller insurance companies, often referred to as cheap or direct car insurance companies, which tend to be less thorough when assessing drivers and their driving records before offering policy discounts or coverage amounts.
If you’re considering purchasing one, it’s essential to know how the technology will affect your premiums before deciding. So, do in-cab cameras reduce insurance premiums?
What Is An In-Cab Camera?
An in-cab camera is a video recording device installed inside a vehicle to keep a permanent record of what happens during your driving hours. It records audio as well as video and monitors your driving habits.
This can be useful for both you and your employer when managing your overall safety on the road, but they are also often used to assess accident liability.
If there is an accident while you are at work—even if it isn’t your fault—your employer may use footage from an in-cab camera to determine who should pay for damages or injuries resulting from accidents while working.
The Pros Of Having An In-Cab Camera Installed
An in-cab camera is a tool to be used when you have a dispute with your employer or employee. Having cameras installed is also reassuring to employees and employers as they both feel more secure with their privacy protected.
Another benefit of having an in-cab camera installed is recording footage of all dangerous accidents. This could help protect your company from injury claims if you can prove they weren’t at fault.
In addition, it would allow you to prove that there wasn’t any damage done to your vehicle before it was towed away by the authorities. Lastly, cameras are helpful when dealing with fraudulent employees who try to blame others for their mistakes.
Can An In-Cab Camera Reduce Insurance Premiums?
Not. Insurance companies are a business just like any other, and they look at a variety of factors when deciding if you’re qualified for their product. Their main concern is that they can collect on your policy should something bad happen while you’re on their radar.
Since that’s hard to do if you don’t exist, high-risk drivers will pay more for coverage than low-risk drivers. If everyone had in-cab cameras, a risk assessment would no longer be an issue, and everyone would pay about what anyone else does now – or less.
Insurance companies will not cut their rates just because new technology is available. They’re going to wait until they see it in widespread use and realize that it doesn’t affect their bottom line before they change anything.
A few companies have started offering safe driver discounts to incentivize people who agree to install cameras in their vehicles.
The problem with these discounts is that it can take several years of driving without incident before you qualify for them. So, most people end up paying higher rates than they otherwise would simply because they didn’t opt into a device when they bought their car or truck. If you are unsure if your in-cab will lower your premium, reach out to Humn.ai. Their product, Rideshur might be the solution for you.