A dashboard camera, otherwise known as a dashcam, is a small camera that is wired into your car and automatically switches on and starts recording when the car is started. They come with built-in memory and record on a continuous loop, ensuring that any accidents on the road is captured.
While just having a dashcam installed may not lower your car insurance rates, the footage that the camera provides may turn out invaluable in certain situations, such as during accidental claims. Even Singapore's largest taxi firm has installed these cameras in all of its 16,600 vehicles to provide evidence after an accident.
In other countries, some insurance companies have started to offer lower rates to drivers with dashcams installed in their cars. For instance, AXA insurance in UK gives a 10% discount for drivers with dashcams installed when they buy a direct insurance from them. A typical camera costs between $200- $230 and drivers can save a recording manually. Footage from the camera is also stored automatically in the event of any violent shock.
3 Ways A Dashcam Can Help You
1. Dashcam evidence could prove an accident was not your fault
This is especially true if you meet with a hit-and-run driver, proving that the accident was no fault of yours. In the larger scheme of things, it also helps society keep dangerous drivers off the road!
2. Claims could be settled faster with less hassle
During an accident, a driver is often left panicky and anxious, making memory and description of the accident blurry. With video proof, you can save yourself the hassle of having different stories from different witnesses. Your dashcam footage can also expedite your claims as it prevents you from having drawn-out discussions with your insurers about who was at fault.
3. Prevent cases of ‘crash for cash’ claims
'Crash for cash' frauds are based on deliberate collisions and fake claims which result. In such cases, a dashcam is helpful to determine the circumstances where the accident happens.