The vast array of modern technology in cars today makes for a lot of convenience as well as enhanced safety and security. Many of these technologies allow for safer drives that can effectively reduce the cost of the insurance premium you pay. Some prime examples of technology at work to put more money in your wallet:
Autonomous Driving Features
Till recently, driverless cars were in the realm of science fiction, however, they are quickly becoming a reality. The push for autonomous cars is to remove the stress of driving and the chances of making errors of judgment that can lead to accidents. Consequently, insurance premiums are likely to dip substantially when there are enough of these cars on the roads. In the meantime, autonomous features like automatic braking and parking assistance are increasingly becoming commonplace in new cars and insurance companies are already responding to the reduction in the potential for claims with cheaper premiums.
So far insurance companies were not able to offer insurance solutions that were customized as per the usage pattern and requirements of the buyer, however, black box technology makes it now possible to track all parameters of the use of the car such as frequency of use, distance traveled, time of the day the car is used, the routes traveled, speed, acceleration, braking intensity, etc. to better understand the risk profile of the driver. Blackbox data ensures that the Ottawa Auto Insurance premiums are based on individual risk profiles and not an average of the class to which the driver belongs.
Dashboard cameras are essentially small video cameras fitted on the dashboard of cars that automatically record each journey of the car. This makes it easy for investigators to find out the reason for an accident and establish who was at fault. As they become more widely available and inexpensive, dashcams are becoming more popular and this has prompted many insurers to give you a discount if your car is fitted with an approved model of a dashcam. According to https://www.huffingtonpost.ca, using the video footage from the dashcam to establish that the accident was not due to your fault can help you to avoid being penalized with an increased insurance premium.
Additional Security Features
Insurance premium amounts not only depend on the likelihood of the car meeting with an accident but also the chance of it being stolen, broken into, or vandalized. If you install any security feature that safeguards your car, the lower risk of the vehicle is rewarded by insurers with a discount on the premium. Typical security gadgets include an alarm that will sound if the car is broken into, an immobilizer that will prevent the vehicle from being driven off without the use of an authorized key, as well as a GPS tracker that will identify the location of the car making it easy to recover.
No insurer wants owners to make claims for vehicle damage and hence appreciates if the driver drives the car safely, exposes the car less to the various dangers on the road, and protects the vehicle from being stolen or broken into. When the risk profile of the insured car is reduced, the insurers reward the driver with discounts on the premium.