Car Insurance - Discount with GPS + Maybe Dashcam?

geekcohen on 11/02/2024 - 11:51

I caught up with a fellow OzBargain member yesterday who I haven't seen in a while. They showed me the GPS deal from a while ago. He said that he now gets a roughly $400 discount with his Insurance because the car is GPS-tracked. It is a very nice car (not a high-end yield vehicle, Merc, Audi or anything).

My insurance is up next month and I am considering buying one of the GPS units (even for $15 it's a bloody good deal, put a cheap SIM in it or run my owner server), which might mean an insurance discount!

I am currently with AAMI, they don't have anything on their website/portal about GPS tracking (I guess I can ring and ask during the week).

Does anyone know what insurers allow discounts for GPS and maybe dashcams? I have Front + Rear Dashcam. I did see this from Drive about Dashcams not really giving a discount.

I am in regional VIC if that helps.

Automotive Car Insurance Insurance

Comments

  • boomramada on 11/02/2024 - 11:59

    You forget to ask your buddy which insurance company they using?

    • geekcohen on 11/02/2024 - 16:09

      I will be asking.

  • Euphemistic on 11/02/2024 - 12:07
    +5

    Im not giving ny GPS data to an insureror soms dodgy data collector. Sounds like a recipe for denied claims.

    • geekcohen on 11/02/2024 - 16:09

      Never said I was going to do that. I sure as hell won't be giving them access to the data.

      • Euphemistic on 11/02/2024 - 19:29
        +2

        So how does it work then? They are just supposed to trust you that you have a tracker? Innthat case, ive got a tracker too!

        Do they want a tracker to prevent loss due to theft? Or do they want your driving records so they can prove you were driving poorly and will deny a claim?

  • kerfuffle on 11/02/2024 - 13:28
    -1

    Not NRMA. I too have dashcams and vehicle tracking. But it was never an option when I bought my policy online

    • geekcohen on 11/02/2024 - 16:10

      But it was never an option when I bought my policy online

      This seems to be common, I wonder whether calling might be an "added option".

  • Minimum chips on 11/02/2024 - 14:07

    My understanding was that was something for fleet vehicles. Is his a business vehicle? A cursory search does not turn anything up in terms of private car insurance discounts in Australia - except vague allusions from places selling GPS units, none of which point to an actual insurer that offers this.

    Should you be able to get a discount for fitting a GPS and discount? Definitely! But the closest thing at the moment seems to be deals where you predict how much you drive in a year, and get a reduced price if you stay under that but pay a higher excess if you exceed it and have an accident.

    Also if insurers were going to integrate GPS data and pay claims based on it, they'd probably want something professionally installed and verified, to avoid fraud. A cheapie little unit you put on your dash and a pinky promise to not fake the data might not cut it.

    • geekcohen on 11/02/2024 - 16:11

      Is his a business vehicle?

      No, it isn't.

  • ihbh on 11/02/2024 - 16:29

    IAG (NRMA/RACV/SGIO/SGIC, etc.) looked at GPS tracking around two decades ago based on Progressive but don't think they've made any progress in this area.

    This is based on usage or pay as you drive; you would only get a discount if you drove less and at less risky times, perhaps. I can' t see how a dashcam can get your a discount.

    • Broke-Ken on 12/02/2024 - 16:05

      Ditto here as well, I inquired with the same insurance company about 2 decades ago as well, for a GPS tracker for my motorbike at the time, and their response was that it would actually increase my premiums as it's additional accessories to cover, which would also increase the overall value of the vehicle, but it would not assist with preventing it from being involved in an accident, or the actual theft itself.

      Don't know if things have changed since then.

  • bobbified on 12/02/2024 - 02:04

    I am considering buying one of the GPS units (even for $15 it's a bloody good deal, put a cheap SIM in it or run my owner server)

    When your car gets stolen and your $15 tracker isn't working for whatever reason, they'll probably deny your claim.

    • geekcohen on 12/02/2024 - 05:20

      Who said that they know it is a $15 unit? It is better than those OBD2 Units that can just be so easily removed.

      The only two reasons I would see it not working is:

      • Flat Battery
      • Out of Phone Range
      • bobbified on 12/02/2024 - 13:11

        Just letting you know that insurance companies are always quick to take payment of your premium. But if you give them any reason to deny your claim, they won't hesitate to take that too!

        • geekcohen on 12/02/2024 - 13:12

          Yes, I am sure they would. But GPS tracking is better than no GPS tracking.

          • bobbified on 12/02/2024 - 17:03

            @geekcohen:

            But GPS tracking is better than no GPS tracking.

            It is definitely better to have than not to have, unless your insurance has given you a huge discount on the proviso that no conditions around how the GPS has to work. Better have a read of the PDS to understand exactly what they specify.

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