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A dash cam is a type of video camera that can be installed on your dashboard and that’s designed to record footage while you drive. While installing one won’t directly lower your car insurance premiums, it’s still a smart investment. Here’s how a dash cam can benefit you in the long run!

They can fast-track insurance claims

It’s common for both parties involved in a crash to claim no fault in the accident, in which case you could be held partially liable for someone else’s reckless driving. In such an event, a dash cam can make the difference between an easy insurance claim and a costly, drawn-out one.

Dash cams provide video evidence that can be used to determine who’s really at fault. They can also capture a license plate if the other driver decides to flee.

While insurers often require photos with insurance claims, video footage currently reside in a legal grey area, which means the usefulness of dash cam footage will vary depending on the situation.

They can protect you from insurance fraud

From staged accidents to pedestrians purposefully walking in front of your car, insurance fraud is an all-too-common occurrence. The Insurance Bureau of Canada estimates that insurance fraud costs drivers $1.6 billion a year, and insurers are often forced to increase their rates to cover these costs.

It’s often very difficult to prove insurance fraud. Dash cam footage can sometimes provide hard evidence that you weren’t at fault.

They can help you review your driving habits

Dash cams can help you become a better driver. Sitting down and watching footage of your driving, allows you to review and evaluate your driving habits from the comfort of your home. You might not even be aware of the bad habits you have developed over time.

Improving your driving skills means you’re less likely to get into an accident or get pulled over, which could translate to lower insurance premiums down the road.

Speak With an Expert Car Insurance Broker in Edmonton

A dash cam can be a smart investment, but it won’t replace good car insurance. Rest assured that MBS Insurance Brokers Ltd. can help guide you through the process of finding a policy that meets your needs. Call us today to get a free quote on car insurance in the Edmonton area or to learn more about how we can help you get the protection you need for your home, business or motor vehicle.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.

 

1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.

 

2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.

 

4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.

 

6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.

 

7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.