Does Parking in a Driveway with CCTV Reduce Car Insurance?
Caeva O'Callaghan | December 11th, 2020
My House Has CCTV In My Garden Where I Park My Car, Should That Reduce My Car Insurance Premium?
You might think that adding a security system to your home will reduce your car insurance premium. But is this really the case?
Not necessarily. Unfortunately, additional security measures such as CCTV are not primary rating factors. Your car is likely to be safer, but not significantly enough to reduce your car insurance premium.
CCTV is always a good idea for your own peace of mind. However by itself, it will not affect how much you pay for your car insurance.
In this article, we’ll answer questions such as:
- Will installing CCTV reduce my car insurance?
- How can I reduce my car insurance cost?
- Does where I park my car at night affect my car insurance?
Car insurance providers calculate insurance premiums based on a number of different rating factors. Primary rating factors affect the cost of your premium the most. These include your age, your driving history, where you live and your occupation.
Does Home CCTV help reduce car insurance?
There are lots of types of smart security systems on the market to help keep your home secure. These range from your basic burglar alarm, which reacts when suspicious activity trips it, to full CCTV systems. Automated services can send alerts to your phone, and even connect to call centre staff who alert the police if they detect suspicious activity.
Unfortunately, as this is brand new technology, we haven’t yet got reliable data on whether these measures prevent crime. The results have not been significant enough in the past few years to affect insurance prices. This is due in part to there being many different home security camera models on the market, of varying quality.
In the next few years, we can probably expect car insurance providers to catch up with technology. From the different risks associated with home electric car charging ports to advancing home security systems, technology is impacting the way we drive and insure our property.
But just now, simply installing CCTV at your home or wherever you park is not enough to reduce your car insurance. The parking structure matters much more: a car port is thought to be the safest place for your vehicle. Failing that, a secure garage or well-lit on-street parking.
CCTV and car accidents
That’s not to say CCTV cannot play a role in your car insurance. Having CCTV at your home is always a good idea, even if you can’t count on it to reduce your insurance bills. It may catch a criminal in the act, or assist someone else making a claim if they have an accident which is caught on your camera.
CCTV on our streets and public places helps the Gardai and your insurance company find out exactly what happened when you need to make a claim. Without it, valuable evidence may be lost. Eyewitnesses are not always reliable, and they aren’t always present.
One good thing about advancing technology is that it’s getting cheaper and cheaper. You can buy inexpensive security camera systems which work with any smartphone. This means you’ll be able to check on your car from wherever you are, on holiday, at home or at work. They are easy to install by yourself, and will give you an added sense of security.
Does Where you park to reduce your car insurance?
Insurers want to know where you keep your car during the day and night. They ask this because they need to know how safe your car is when you aren’t driving it. Insurance application forms often ask where your vehicle will stay overnight. The fact of the matter is, more crime happens at night, so it affects your risk.
If you store your car on the street, in a garage or carport most nights, you probably don’t need to tell your insurer if you pick up a few extra shifts or stay for a week or two at a friend’s house. However, if your shift pattern changes and you start parking your car somewhere else at night, you will need to inform your insurer.
This isn’t because your office car park is any more or less likely to have CCTV. It’s because if you need to make a claim, and your car’s parking situation is a surprise to your insurance, they may refuse to pay out.
Many insurers will say the safest place to store your car overnight is in a carport. This is because it’s off the street and close to your house. A garage is an enclosed space which is more attractive to criminals, and which may provide access to your home. If you don’t have either of these, well-lit on-street parking is the best alternative.
And as always, it’s up to you to keep your car safe. It doesn’t matter if your private car park was securely locked when you walked off: if you left your car unlocked and CCTV happens to catch someone opening the door and grabbing your laptop, you won’t have cover. It’s up to you, first and foremost, to protect your possessions.
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