[deky]

Scenario 1: You have to park your car outside your house in the night. A car thief tries to steal your car but cant as you have gear lock installed. VOILA!!! you just saved a lot of money to the insurance company. But does the insurance company appreciate that you have this security feature in your car?

Scenario 2: You driving 100kmph on a highway, you see a trucker suddenly swerve in front of you, you hit the breaks and your car stops in the same lane in which it was travelling. Thank god you didnt skid into the divider or were not hit from behind as you skidded. Your car has ABS. WOW!! you save more money to the insurance company. But again does your insurance company thank you for having safety features?

Now to the discussion:-

While talking about cars to a friend of mine who has been living in Tokyo for some time now, the topic of insurance came up. He suggested that in Tokyo the more the safety and security features your car has, the less the insurance premium of your car.

Infact this statement seemed quite logical as more safety features, like airbags, ABS etc etc, will decrease the possibility of personnal injury in case of accidents and more security features like gear lock, auto cop etc etc, will decrease the possiblity of the car being stolen. Hence the possiblity of the insurance company compensating you decreases, which in turn should result in the company demanding less premium from you.

Now a few questions:-

1. Do the insurance companies have this policy in India?

2. If they have, IMO getting a gear lock installed in our car or paying extra for a car with AIRBAGS should not matter much as, we will be able to recover the amount with the insurance benefits we get.

Woud love to have your guys opinion on this.