You’re probably aware of the immediate benefits of having a stolen car recovery system—from a higher chance of recovering a stole vehicle to improved peace of mind.
But did you know that, in some cases, having a stolen car recovery system can actually save you money on car insurance? It’s true, many comprehensive car insurance plans offer reduced pricing on monthly premiums for drivers who can provide proof that their car is fitted with a stolen vehicle recovery device.
In this blog, we’ll go over the ins and outs of stolen car recovery system insurance discounts, so you can start raking in the savings.
What Is a Stolen Car Recovery System?
A vehicle recovery system interacts with individual recovery technologies to aid and improve the chances of recovering a stolen car. The system frequently includes a connection between a device, a user interface (such as an app or website), and a service that is either automated or connects you with a team of recovery specialists to help recover the vehicle.
A vehicle recovery device is the actual tracking device installed discretely in your vehicle to help authorities recover your stolen car. These devices emit a GPS signal that assists local authorities in the recovery process after the vehicle has been reported stolen. These devices are paramount in helping you recover your stolen vehicle, with some devices shown to support 90 to 94 percent recovery rates.
What Is Comprehensive Car Insurance Coverage?
A basic car insurance policy is required by law for most car owners in the U.S. But the most basic insurance policies only cover third-party damages. A comprehensive plan, on the other hand, insures drivers for other auto-related damages including:
- Fire damage
- Theft
- Damage from an act of vandalism
- Flood damage
- Falling objects
- Explosion
- Civil riot
- Windshield damage
- Accidents with live animals
- Damage caused by live animals
The cost of a comprehensive coverage plan varies greatly depending on the insurance carrier, your driving records, where you live, and the varying degrees of comprehensive coverage available. However, comprehensive coverage is generally much more affordable than liability or collision coverage policies and it can make all the difference if you find yourself in a bad situation.
Stolen Car Recovery Insurance Discounts
One of the other added benefits of having a comprehensive car insurance plan is the possibility of receiving a vehicle recovery system discount.
What is a vehicle recovery system discount?
Many auto insurance companies, including AAA, Progressive, and Allstate, offer special discounts for drivers who can show proof of having a stolen vehicle recovery system installed in their car.
Insurers offer these discounts on monthly coverage mainly because it helps ensure safe vehicle recovery, reducing the risk of a total stolen vehicle loss and lowering the overall rate of coverage for other insurers.
The amount of money you can save each month depends on many factors, but some drivers enjoy discounts of up to $35.86 per month.
How do I know if I qualify for a discount?
There’s a good chance that if you own a vehicle fitted with a stolen vehicle recovery device and have a comprehensive coverage plan, you qualify for a discount. However, insurance discount eligibility and rates are dependent on many various factors.
Call your insurance provider to find out more about your eligibility or use this comparison tool to pull up free quotes.
Discover the Best Vehicle Recovery Device
If you don’t already have a vehicle recovery device installed in your car, now is the time. Gain peace of mind and apply for insurance discounts with the best vehicle recovery device on the market.
Elo GPS is a powerful vehicle recovery device and service tool. Vehicle owners can feel safe knowing that their car is protected with real-time GPS location data. Plus, drivers can stay connected to our dedicated team of vehicle recovery specialists in the event of vehicle theft.
Connect with our team to learn more about how Elo GPS solutions can add to a safe and affordable driving experience.