When shopping for a new or used automobile, many people shop for vehicles with safety features aimed at preventing accidents. Such features include lane indicator warnings, backup cameras, and automatic braking when an object is detected in the path of the vehicle. Because these features are designed to enhance safety and prevent auto accidents, one would think that having these features would lead to cheaper auto insurance. Think again, according to Forbes, who says that these high-tech add-ons won’t necessarily lower your premiums.
Blind spot and lane departure warning systems are among some of the newest high-tech features available on many new automobiles. Add these features to automatic braking and back up cameras, the latter of which has become almost standard on new vehicles, and technology has all but taken away the need to actually drive.
These features are working as intended, according to the AAA Foundation for Traffic Safety. The organization estimates that is installed on all vehicles, these safety features could prevent some 2.7 million crashes, 1.1 million injuries, and nearly 10,000 deaths annually.
These features may help to save a person’s life, but they shouldn’t expect them to lower their insurance premium.
The reason behind these features not lowering premiums seems ingrained in the facts that these systems are expensive to fix. They also may lull drivers into a false sense of security, leading them to become more careless.
Only one of the nine available safety features – electronic stability control – will actually net a person a lower premium. However, since the federal government has mandated that this feature be installed on all 2012 or newer vehicles, the discount amounts to a name-only savings. It also amounts to about a $7 savings per year.
To really save money on insurance premiums, anti-theft devices are the way to go. Savings differ, but adding a passive vehicle disabling device, tracking system, an active disabling device, and an alarm can really ramp up savings.