July 19, 2019
With the increase of car theft and hijackings in South Africa, it would be advisable to invest in a tracking device for your car. The National Crime Statistic released in September 2016 over a 12-month period showed that hijackings rose by 14.3%. That is a total of 14 602 hijackings per annum. 1 Installing a tracking device will not only improve your car’s safety in an event of theft or hijacking, but it could possibly reduce your insurance premium quite drastically. In return, you will save some money in the long run.
In some cases, fitting a tracking device to your car may not have an influence on your insurance premium, because of two factors.
There are two different portions when it comes to your insurance policy, namely, the accident portion and theft portion. The cover on the accident portion is always more than the theft portion of your insurance policy. This could only change if the vehicle is more at risk of being stolen. In saying this, the tracking device might only have an effect or discount on the theft portion of your insurance.
Car tracking devices work with GPS (Global Positioning System) technology. A network of satellites are used to track the location of a specific vehicle or person to which the GPS device is attached. GPS technology has become very important in our daily lifestyle.
We suggest that you consult with your financial adviser regarding all car insurance-related matters as well as the terms and conditions regarding any car insurance policy. This article is for informational purposes only.
May 12, 2022