4 Economic benefits of installing car security systems in 2022
Car security is a major concern in the country today. With car thefts increasing rapidly, more and more people are installing car security systems like steering wheel locks, car alarm systems and so on.
Although many vehicles come with an in-built security system, a lot of them do not and in these times, it is absolutely important for you to have a security system in your vehicle. These systems are absolutely inexpensive and highly effective in preventing car theft.
The fact of the matter is that not only do they protect your car but also save you a lot of money. In this article, we will discover four economic benefits of installing car security systems in your vehicle in 2022, so here we go.
1. Preventing the cost of car theft
Well, naturally, when you have had your car stolen, you lose an asset. So that’s one huge loss that these security systems prevent already.
However, did you know - when your car is stolen, you don’t always get the full amount of what your vehicle was worth from the insurance companies. Instead, you get the book value which is far less than the actual cost one incurs when their car is stolen.
Furthermore, the insurance companies are going to make you wait for a long time so that they can be absolutely sure that the car is stolen. In the meantime, you will have to travel around without a car, which means bearing the extra transportation cost throughout the course of the delay.
By installing the best car security systems in your car, you can simply ensure that your vehicle is absolutely safe on the road.
2. Savings on insurance premiums
In order to decide your car’s premiums, insurance companies evaluate the likelihood of your car being stolen. Upon evaluation, if they find that your car is vulnerable to theft, they might charge you a higher premium, whereas if you’ve installed various car security systems like steering wheel locks and alarms, they’ll charge you a lower premium on your vehicle’s insurance. Installing a car alarm system and letting your insurer know about the various measures that you have taken to protect your car from theft, you can considerably save on insurance premiums.
3. Increased resale value
Adding customisations that enhance the quality of the vehicle will naturally increase your car’s resale value.
Various aftermarket car security systems will save the person buying the car the cost of taking extra measures to ensure the vehicle’s safety. Thus, when the buyer inspects the car at the time of purchase, you can let them know about the customisations you have made to your car and demand a higher price than its original value.
4. Preventing the additional costs of car theft
Other than the basic costs of car thefts, you would also incur a number of other miscellaneous expenses even in the case that your car is found.
First of all, if your car is found after the insurance company has settled the claim with you, they get your car, at book value. On the other hand, if they haven’t settled the claim with you and the car is found, you might not know for days and when you finally do, there’s a heavy impound fee that you’ll have to pay.
Conclusion
In the end, we come to the conclusion that having your car stolen can be pretty expensive, and car security systems can not only protect your vehicle from thefts but also save you a lot of time and money.
That said, to save yourself from all the unwanted costs that come along with car thefts, we advise you to install a strong car security system from the best auto security company in town.
