No tracker, no payout: Importance of understanding your car’s insurance policy
Your insurer can ask you to install a tracking device in your vehicle, in order to be fully covered.
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702’s Clement Manyathela speaks with the CEO of Infiniti Insurance, Sharon Paterson.
Listen below:
Many insurance brokers have made the installation of tracking devices in vehicles mandatory, due to the high rates of hijackings, accidents and theft.
It has significant influence on whether claims are approved or not.
Paterson says it is important to thoroughly know the terms and conditions of your individual policy.
It can differ from broker to broker and vehicle to vehicle.
“It would be deemed to be the kind of vehicle... where your vehicle is... where your vehicle is parked at night, or parked during the day.”
– Sharon Paterson, CEO – Infiniti Insurance
Paterson says claims will only be rejected if you have acted outside of your policy.
While some brokers will follow up that the tracking device is still in your car, it is mostly up to the owner to ensure the device is and remains fitted, and is working.
“Our experience is that we do get more cars back with tracking devices, but we also are aware that tracking devices are taken out.”
– Sharon Paterson, CEO – Infiniti Insurance
“The quicker your company is contacted, the more likely they are to be able to find your vehicle before the tracking device is removed.”
– Sharon Paterson, CEO – Infiniti Insurance
Scroll up to the audio player to listen to the discussion.