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Will an anti-theft device decrease your car insurance?

Don’t Miss These Facts

  • An anti-theft device can save you 25% on auto insurance
  • Comprehensive coverage kicks in if your vehicle is stolen
  • Other common auto insurance savings include good student, safe driver, and multi-policy discounts

Anti-theft devices decrease auto insurance rates because insurance companies are less likely to pay for a stolen vehicle. While some anti-theft systems come standard with your car, others can be added for extra security.

However, if your vehicle is stolen, you must have comprehensive coverage for your auto insurance to pay for a replacement. While liability and collision coverages pay for damages from an accident, comprehensive insurance pays for damages unrelated to an accident, such as theft, vandalism, and fire.

Drivers can save up to 25% with discounts for an anti-theft system on their cars, but most insurance companies offer a variety of auto insurance discounts. Take advantage of all discounts for which you are eligible, such as multi-policy, good student, and safety feature discounts.

Let’s dive in to determine if you can save money on your auto insurance with an anti-theft device and learn other ways to save.

Does an anti-theft device decrease your car insurance?

Almost everyone has an alarm system for their car these days. But did you know that it can save you money on auto insurance?

Auto insurance companies offer discounts for anti-theft devices since they can prevent your car from being stolen. Thus, the insurance company pays fewer claims.

While car alarms are the most common anti-theft devices, there are a variety of ways to deter thieves. Some systems may have to be installed by professionals, but some are do-it-yourself.

Common anti-theft devices include:

  • Smart keys. These keys send a signal to your vehicle that locks it, making it difficult for a thief to enter.
  • GPS trackers. Although you have to pay to keep a GPS tracker active, it can alert you to your vehicle’s location if it’s stolen.
  • Wheel clamps. These devices attach to your wheels, making it impossible to steal them or to allow the car to move.
  • Steering wheel locks. These clamp to your steering wheel and prevent it from turning.
  • Audible alarms. Loud alarms attract attention and can scare away potential thieves.

Let your auto insurance company know that you have an anti-theft device in order to receive a discount.

You can save up to 25% on your auto insurance with an anti-theft discount. However, that discount generally applies to your comprehensive coverage, not your entire auto insurance policy.

What type of car insurance covers auto theft?

Although most states require a minimum amount of liability coverage, it does not protect your vehicle at all. Liability only pays for property damage and bodily injuries to others if you cause an accident. It offers no coverage for your car.

In addition, collision coverage pays for damages to your vehicle but only from an accident.

Comprehensive covers damages to your car that are unrelated to an accident, including vandalism and theft. Comprehensive coverage is necessary to avoid out-of-pocket payments for vehicle repairs.

For example, there were almost 20,000 vehicle thefts in Los Angeles in 2017. Without comprehensive coverage as part of their Los Angeles car insurance, drivers would have to replace their stolen vehicles themselves.

Experts suggest full coverage car insurance for the most protection. Full coverage combines liability, collision, and comprehensive coverages. However, full coverage is more expensive.

This table reveals average auto insurance rates from top companies based on the type of coverage.

Average Annual Auto Insurance Rates Based on Coverage Type
CompanyAverage Annual Rate for Low CoverageAverage Annual Rate for Medium CoverageAverage Annual Rate for High Coverage
Allstate$4,628.03$4,896.81$5,139.02
American Family$3,368.49$3,544.37$3,416.40
Farmers$3,922.47$4,166.22$4,494.13
GEICO$3,001.91$3,213.97$3,429.14
Liberty Mutual$5,805.75$6,058.57$6,356.04
Nationwide$3,394.83$3,449.80$3,505.37
Progressive$3,737.13$4,018.46$4,350.96
State Farm$3,055.40$3,269.80$3,454.80
Travelers$4,223.63$4,462.02$4,619.07
USAA$2,404.11$2,539.87$2,667.92
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Full coverage is approximately $30 a month more expensive than liability-only auto insurance. However, this coverage is also much more significant. Without comprehensive auto insurance, you will have to pay out of pocket to replace your stolen vehicle.

Drivers with older, less expensive vehicles may be tempted to forego comprehensive coverage if they can afford to replace their stolen car. However, full coverage car insurance saves you from costly repairs or vehicle replacement if your car is more expensive.

What other auto insurance discounts are available?

While you can save up to 25% on car insurance if you have an anti-theft device, many other auto insurance discounts are available. Some discounts are based on your policy or your personal factors, including multi-policy, good student, good driver, or occupational discounts.

A multi-policy discount is awarded to customers who bundle more than one type of policy with the same company, like auto insurance and homeowners insurance, for instance.

Some discounts are based on your car’s safety features. According to MyCarDoesWhat.org, safety features include brake assist, traction control, collision warning systems, and cameras.

The table below discloses auto insurance discounts from top companies. The savings amount is listed if available.

Auto Insurance Discounts By Company
Auto Insurance DiscountsAllstate (%)American Family (%)Farmers (%)GEICO (%)Liberty Mutual (%)Nationwide (%)Progressive (%)State Farm (%)Travelers (%)USAA (%)
Adaptive Cruise ControlN/AN/AN/AN/A5xxN/AN/AN/A
Adaptive HeadlightsN/AN/AxN/A5xxN/AN/AN/A
Anti-lock Brakesxxx555x5xx
Anti-Theftxxx252025x15xx
Claim Freexxx26x10x152312
Continuous CoveragexxxxN/AN/AxN/A15N/A
Daytime Running Lightsxxx155xN/Axx
Defensive Driverxxxx105105103
Distant StudentxxxxN/A10xx7x
Driver's Edxxxx10N/A101583
Driving Device/AppxxN/Ax30402050305
Early SigningxxxxN/A8xN/A1012
Electronic Stability ControlxxxN/A5xxN/AN/AN/A
Emergency DeploymentN/AN/AN/A25N/AN/AN/AN/AN/AN/A
Engaged CoupleN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Family LegacyN/AxN/AxN/AN/AxN/AN/A10
Family PlanN/AxxN/AN/A25N/AN/AN/AN/A
Farm VehiclexN/AxxN/AN/AN/AN/AN/AN/A
Fast 5N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Federal EmployeeN/AN/Ax810N/AN/AN/AN/AN/A
Forward Collision WarningN/AN/AN/AN/A5xxN/AN/AN/A
Full PaymentN/Axxx$5N/AxN/A7.5N/A
Further EducationN/AN/AN/Ax1015N/AN/AxN/A
Garaging/StoringN/AN/AxN/AN/AN/AN/AN/Ax90
Good CreditxxN/AN/AN/AxxxN/AN/A
Good Studentxxx1522.510x2583
Green VehiclexN/A5N/A10N/AN/AN/A10N/A
HomeownerN/AN/Axxx5x35N/A
Lane Departure WarningN/AN/AN/AN/AxxxN/AN/AN/A
Life InsurancexN/AN/AN/AN/AxN/AN/AN/AN/A
Low Mileagexxxxxxx30xx
LoyaltyN/AxN/AxN/A5xN/AN/Ax
MarriedN/AN/AN/AN/AxxxxN/Ax
Membership/GroupN/AN/AN/Ax107N/AN/AxN/A
MilitaryxN/Ax154N/AN/AxN/Ax
Military GaragingN/AN/AN/AN/AN/AN/AN/AN/AN/A15
Multiple DriversN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Multiple Policies1029x102010121713x
Multiple Vehiclesxxx25102010208x
New AddressN/AN/AN/AN/A5N/AN/AN/AN/AN/A
New Customer/New PlanN/AN/AN/AN/AxN/AN/AN/AN/AN/A
New GraduateN/AN/AN/AN/A5N/AN/AN/AN/AN/A
Newer VehiclexN/AxxN/Axx401012
Newly LicensedN/AN/AN/AN/A5N/AN/AN/AN/AN/A
NewlywedsN/AN/AN/AN/A5N/AN/AN/AN/AN/A
Non-Smoker/Non-DrinkerN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Occasional OperatorN/AN/AN/AN/AN/AN/AN/AN/AN/Ax
OccupationxN/Axx1015N/AN/AxN/A
On-Time PaymentsxN/AN/AN/AN/AN/AN/AN/A15N/A
Online ShopperN/AN/AN/AN/AN/AN/A7N/AN/AN/A
Paperless DocumentsxxxN/AN/A5$50N/AN/AN/A
Paperless/Auto BillingxxxN/Ax$30x$233
Passive Restraintxxx40x20x40xx
Recent RetireesN/AN/AN/AN/A4N/AN/AN/AN/AN/A
RenterN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Roadside AssistanceN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Safe DriverN/AN/Ax15N/A3531152312
Seat Belt UseN/AN/AN/A15N/AN/AN/AN/AN/AN/A
Senior DriverxN/AxN/AN/AN/AN/AN/AN/Ax
Stable ResidenceN/AN/AN/AN/AN/AxxN/AN/AN/A
Students & AlumniN/AxN/Ax107N/AN/AN/AN/A
Switching ProviderN/AxxN/A10N/AxN/AN/AN/A
Utility VehiclexN/AxxN/AN/AN/AN/AN/AN/A
Vehicle Recoveryxxx153525x5xx
VIN EtchingN/AN/AxN/A5xxN/Axx
VolunteerN/AxN/AN/AN/AN/AN/AN/AN/AN/A
Young DriverN/AN/AN/AN/AxN/AxN/AN/A$75
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Most auto insurance companies offer various discounts, and drivers typically qualify for more than one discount. So bundle all of your available discounts for the most savings.

Anti-Theft Devices Decrease Auto Insurance: The Bottom Line

Not only can anti-theft devices prevent your car from being stolen, but they may also lower your auto insurance rates. Most insurance companies offer up to a 25% discount on comprehensive coverage if you have at least one anti-theft device.

However, drivers without comprehensive auto insurance will have to replace their vehicles themselves. In addition, liability and collision coverage do not cover stolen cars.

Although full coverage auto insurance is more expensive, it offers the most coverage for your vehicle. You can lower rates by taking advantage of all car insurance discounts available to you, such as multi-policy and good student discounts.

Shop around to find the lowest rates and the best anti-theft device discounts. Compare rates and discounts from multiple companies to find your best deal.

References:

  1. https://mycardoeswhat.org/safety-features/