Car Insurance Premium

wairds

Car insurance coming up for renewal so I went through a comparison site and found LV, for value and cover, to be the best option. I was taken through to their website. On reviewing the cover on their website they had a couple of options regarding having a dash cam and parking sensors. I thought “great, an improved premium.” Imagine my surprise when I found the premium increasing. When I queried this I was informed it was if there was an accident there would be increased cost if these items were damaged. Hence the increased premium.

Anybody else encountered this?

DullGreyGuy

The call centre operative that you spoke to will have no way of knowing "why" they impact prices the way that they do, arguably no one does as mass market consumer insurance like Motor is priced on statistical analysis rather than people sitting in an ivory tower postulating if something is more or less risky. 

Parking sensors do reduce the chance of a minor fender bender but they do also increase the costs of claims that do happen. For cars with keyless operation they have also been a very easy way to steal certain cars - pop one out, reconnect the wires to an special device, the ECU then thinks the key is near by and unlocks the doors and activates the start button. Stolen vehicles is a very high cost claim type.

Dash cams are also double edged, yes they can resolve liability in favour of your client but they can also show your client is at fault. Capturing hit and runs can be more helpful but to do that the device needs to be left in the car which increase the risks someone will smash a window to nick it.