Does having LoJack lower insurance? This is a question that many car owners often ask themselves. LoJack, a tracking device designed to help recover stolen vehicles, has been a popular choice among car owners for years. But does it actually translate into lower insurance premiums? Let’s dive into the details to find out.
In recent years, the integration of security features like LoJack has become increasingly common in vehicles. This device, when installed, can significantly reduce the risk of theft and help law enforcement recover stolen cars more efficiently. As a result, insurance companies have started to recognize the value of such security measures, leading to potential discounts for policyholders.
How LoJack Works
LoJack is a tracking device that is installed in a vehicle’s onboard system. When a car is stolen, the owner can contact the LoJack authorities, who then send out a signal to the device. The device transmits the signal to law enforcement agencies, which can use it to locate and recover the stolen vehicle. This process not only helps in retrieving the vehicle but also deters potential thieves from targeting cars with LoJack installed.
Insurance Companies and LoJack
Insurance companies have taken notice of the benefits that LoJack provides. Many insurers offer discounts to policyholders who have LoJack installed in their vehicles. These discounts can vary depending on the insurance company and the specific policy, but they often range from 5% to 20% of the total insurance premium.
Benefits of Lower Insurance Premiums
Lower insurance premiums due to LoJack installation can offer several benefits to car owners. Firstly, it can lead to significant savings over time, especially for those who own expensive vehicles. Secondly, it can provide peace of mind, knowing that their car is more secure against theft. Lastly, it can help in building a positive relationship with the insurance company, which may result in better customer service and additional discounts in the future.
Considerations Before Installing LoJack
While LoJack can potentially lower insurance premiums, there are a few considerations to keep in mind. Firstly, the installation cost of LoJack can vary, and it may not be covered by insurance. Secondly, the device needs to be professionally installed and activated, which can incur additional expenses. Lastly, it’s essential to check with the insurance company for specific details regarding LoJack discounts and eligibility requirements.
Conclusion
In conclusion, having LoJack installed in a vehicle can indeed lower insurance premiums. The benefits of LoJack in reducing theft risks and helping law enforcement recover stolen cars have made it a valuable addition to a car’s security features. However, it’s crucial to weigh the costs and benefits before deciding to install LoJack, ensuring that it aligns with your specific needs and insurance requirements. With the right approach, LoJack can be a valuable tool in securing both your vehicle and your wallet.
