Everyone knows that the simple decision to invest in a dash camera can save you a great deal of money in a short amount of time. One minute, you’re driving along on your way to work, minding your own business. Suddenly, you’re struck by another motorist through absolutely no fault of your own. But as things often do, it quickly devolves into a “he said/she said” situation and there’s not really much you can do about it.

Unless you have a dash camera, that is, and then you already have all the proof you need to come out of this situation totally unscathed (damage to your vehicle notwithstanding). You can submit your footage as evidence, show that the other driver was totally in the wrong, and, apart from your time, you wind up in a much better situation than the one you were in when this whole mess started.

But a lot of people don’t realize that your savings don’t have to end there. Far from it. In a lot of ways, they’re only just beginning — particularly as far as your car insurance is concerned.

Dash Camera

Your Dash Cam, Your Car Insurance, Your Savings

All over the world, more and more insurance companies are offering significant discounts on monthly premiums for the simple act of owning a dash cam. In the United Kingdom, for example, drivers can save up to 30% off their total monthly costs. When you consider how much you’re paying for car insurance, and then subtract the modest amount that you paid for the dash cam (a high quality unit can be obtained for as little as a few hundred dollars in most cases), it’s easy to see how this is one investment that will more or less pay for itself.

Car insurance companies want you to purchase a dash camera for the same reason you want to do it to begin with — because if you’re ever in a car accident, you have absolute proof of what happens that removes all doubt from the equation. If car insurance companies are suddenly spending far less money paying out claims in these types of situations, it stands to reason that they should pass a little bit of those savings onto drivers like you.

A word of warning, however. If you say that you have a dash camera just to get the discount but haven’t actually purchased one, you might wind up in a bit of trouble later on. If you do get into an accident, naturally your insurance company is going to want to see that footage. If you can’t provide it, it is very likely that you will at least have to repay all of the money you saved over time by way of that discount. If you can’t prove that you ever owned a dash cam, it could lead to a total invalidation of your policy — meaning that now you’re dealing with a gap in coverage on top of a significantly increased bill in your mailbox.

So if you’re thinking of “pulling one over” on your insurance company because you know they’re just going to “take your word for it,” you might want to think again. This is one of those situations where the consequences far outweigh any benefit that you’ll actually receive from taking the risk.

But those savings absolutely extend themselves into other opportunities, too. If you’re driving around knowing that something is recording your every move, you’re far less likely to take chances or practice risky driving. In the United States, going for a long period of time with a totally clean driving record can get you additional “good driver” discounts that are separate to the amount you were already saving.

Likewise, the fact that you’re now suddenly a much better driver and are hyper aware of everything going on around you means that you’re less likely to get into an accident in the first place. It’s true that you can’t really control what other drivers are doing and this is still largely hypothetical at this point, but the idea is based in logic.