Is it true that LoJack lowers auto insurance rates? Yes, most businesses will give you a discount if you have an anti-theft system installed in your vehicle. However, the money you save on car insurance will not be enough to cover the cost of LoJack.
Saving money is always a good thing. It’s even better to save money on things like auto insurance on a regular basis.
Auto insurance is one of those things that you can’t avoid buying, as you presumably already know. Borrowers and lessees may be able to get away with paying cheap rates if they own their vehicle outright and have a clean driving record, but borrowers and lessees do not.
Lenders’ full coverage requirements and previous transgressions can result in high rates for long periods of time. Fortunately, if you’re familiar with all of the savings that insurers give, you can obtain affordable auto insurance.
Comparing rates and finding the best one for your scenario is one of the simplest methods to obtain affordable vehicle insurance. Enter your ZIP code above to see how much you may save with LoJack or anti-theft discounts by comparing vehicle insurance quotes with our free comparison tool.
Before you say no to the LoJack offered in your dealership’s finance department, be sure you understand how this vehicle technology can lower your rates.
Does LoJack help with insurance?
In most places, you can earn a LoJack insurance discount by informing your insurer that you have a LoJack and requesting an anti-theft device discount. LoJack savings often range from 5% to 25% off comprehensive coverage, depending on the state and company.
When activated by law enforcement, LoJack emits a specific radio frequency, which aids in the recovery of your car if it is stolen. As a result, having LoJack may qualify you for an anti-theft discount because your insurer will be less likely to be responsible for a stolen vehicle.
What anti-theft device can lower your insurance premium?
Your auto insurance is determined not just by your perceived risk, but also by what you do to avoid specific dangers. Car thefts, for example, are more common in some locations than others, making anti-theft systems more beneficial to customers who are more likely to have their car broken into or stolen.
According to Fox Business, certain theft-prevention systems can save you over 20% on your monthly car insurance costs. Insurance companies will take several methods to reduce your risk of theft into account when establishing a car policy for you if you have various measures in place to reduce your risk of theft.
Car alarms are one type of anti-theft equipment. While these may deter would-be thieves, they are a fairly standard feature that the majority of cars have. According to Auto-Owners Insurance, other systems, such as disabling devices, are more effective and can provide better results when it comes to lowering your insurance premiums.
If a car is stolen, it can be programmed to turn off or disable specific functions. The gasoline input may halt or the ignition may lock up in some instances. A thief will be unable to use your car as a result of this.
It’s also a good idea to get your vehicle identification number (VIN) carved onto your windshield as a deterrent. Because a VIN is linked to your insurance, robbers are less likely to steal or try to resell your automobile because authorities can quickly monitor it.
Installing numerous types of anti-theft devices will alert insurers that your risk of theft has decreased, obviating the need for more expensive coverage. According to Fox Business, a GPS device can help you save 25% on your insurance.
According to the Department of Motor Vehicles, while there isn’t a defined discount rate that every insurer utilizes, the majority of insurance firms offer discounts ranging from 5 to 30 percent. In some states, insurers are even required to offer discounts to drivers.
Because one automobile is equipped with theft-prevention measures and the other is not, two identical cars driven by people with identical driving histories may yet have different rates. Because recouping your automobile is significantly easier with GPS technology, installations with emergency tracking, such as OnStar, have higher discounts. Additionally, some vehicles are equipped with scanning software that allows only the vehicle’s owner to open the vehicle.
How much does LoJack cost per month?
SEATTLE (AP) In the United States, an automobile is stolen every 45 seconds. The state of Washington appears to be a hotbed of activity. According to FBI statistics, the Seattle-Tacoma area ranks 20th in the US for the amount of car thefts.
You’re already aware of the need of parking in a well-lit place, locking your car, and setting the alarm. However, according to the specialists at PEMCO Insurance, some people are now enlisting the services of theft recovery solutions.
Kristine Zewe, a PEMCO underwriting quality analyst, noted, “It’s not a standard alarm that produces noise.” “A theft recovery system employs technology to pinpoint your vehicle’s position and notify police where they can find it for you.”
Theft recovery systems are divided into two categories. The one employs a radio transmission, while the other relies on GPS.
“LoJack employs a radio signal to alert police cruisers to the location of your vehicle,” Zewe explained. “In some circumstances, GPS systems feature a service adviser that will notify the authorities and disable the vehicle.”
Either option will set you back money. LoJack is compatible with both new and used vehicles. It costs roughly $700 and only works in a few locations. OnStar is a subscription-based service available on select GM cars. It will set you back roughly $25 per month.
“You should also examine whether the expense is justified in comparison to the cost of your vehicle,” Zewe said, “such as if your vehicle is regularly stored in a safe garage and in a low-crime region.”
A dealer may also claim that installing a theft recovery device will lower your insurance premiums.
Yes, it does. However, Consumer Reports claims that the discount, which can range from 10% to 30% off your comprehensive insurance rate, may not be enough to justify an expensive dealer-installed system. Compare the system’s cost to the amount you’ll save on your insurance discount.
Also, do some comparison shopping. According to Consumer Reports, buying a car recovery system from an auto-security specialty shop rather than a dealership can save you a lot of money. Just make sure it’s one that’s been approved for your vehicle. If it isn’t, your warranty may be voided.
“It’s always preferable to prevent your automobile from being stolen than to try to recover it,” Zewe remarked.
Zewe suggests a less expensive alternative to car recovery systems. The old-fashioned steering wheel lock. She claims that for less than $50, the device appears to deter would-be car thieves.
Also, if you have a garage, put it to good use! Also, NEVER warm up your car by leaving it running in the driveway.
Is it worth getting LoJack?
How much money can you save on insurance with this system? Is the initial investment worthwhile?
The expense of setting up LoJack is substantial. Some auto insurance companies will give you a discount if you have the system, but it won’t be off your entire rates.
If you save 10 percent on a $1500 annual cost, you’ll save roughly $150 a year just by having the system.
This is, unfortunately, a widespread and harmful assumption made by many consumers. The error you’re making is assuming that the discount will be applied to each and every coverage option you have.
When you install a LoJack device in your automobile and your company offers a discount, the discount that your insurer advertises will only apply to your comprehensive insurance premiums.
Take a look at this table to discover what comprehensive coverage costs on average in your state.
Can LoJack disable car?
“If the thief doesn’t know which car has LoJack, he doesn’t know how to disable it,” said Paul McMahon, a company spokesman. LoJack offers a number of tracking and recovery options, including a $995 Early Warning Package. While that amount may appear high, there is no setup fee or monthly fee.
LoJack is also separate from the expanding number of GPS and cellular-based tracking devices on the market. Customers’ autos have radio transceivers installed by LoJack. According to Mr. McMahon, the Early Warning model incorporates an accelerometer and other motion detectors so that if a car is moved, the LoJack network can notify the owner through phone, e-mail, or text message. While the owner is still required to file a stolen vehicle report with the police, the head start can save valuable hours in the recovery process.
A signal from a radio tower triggers the LoJack device in the automobile to begin transmitting a signal that can only be detected by police officers with LoJack monitoring systems. Regrettably, that coverage is restricted. Law enforcement agencies in 27 states (including New York and New Jersey) and the District of Columbia use LoJack, however not every county in those states is covered.
Escort, a radar detector manufacturer, offers a system based on Blackline GPS technology for enhanced coverage. The Escort EntourageCIS costs $400 (plus $60 for setup and a $180 annual subscription). The EntourageCIS, like LoJack, can be hidden in a car, employs similar sensors, and can send a driver an e-mail, text, or phone message if the vehicle is moved. Unlike LoJack, Escort covers the whole United States and Canada via GPS and cellular signals. Even better, if your automobile is stolen and you don’t reply to the notifications, a 24-hour monitoring station will call local law authorities and dispatch them after the thieves without the need for a police report.
The technique can also be used to monitor young drivers invisibly (or not). You can track your car’s whereabouts online at any moment. You can acquire separate “driver report cards” for each member of the family by purchasing additional key fobs ($60 apiece) that identify each driver. (“Honey, last week you were speeding on the parkway again.”)
“We want to be proactive,” said Clark Swanson, Blackline’s chief executive.
However, while discreet systems like Entourage and LoJack are less likely to be found and disabled by thieves, they are unable to slow or halt a stolen vehicle as well as OnStar. To do so, the systems must be connected with the car’s computers, which is currently a feature that only OnStar has.
How long does LoJack last?
The batteries in the Early Warning Key Passes should be replaced every 6 months to 1 year, depending on the type, to ensure optimum functionality.
Do car alarms deter thieves?
A built-in alarm system is standard in today’s automobiles. When your alarm is activated, the car emits a loud noise, which is usually caused by someone opening the car door or attempting to turn the car on while the alarm is on. Because a burglar does not desire the attention that an alarm draws, this loudness might frequently be enough to deter them.
Is OnStar considered an anti-theft device?
Anti-theft technologies make cars far more difficult to vandalize or steal, according to data. Car insurance companies are well aware of this and are quick to provide discounts to drivers who install such devices in their vehicles.
Anti-theft equipment such as OnStar and Lojack give vehicle alarm services as well as a digital support system from the provider that monitors any indicators of difficulty. These products are so effective that some states will give you a discount for utilizing them before your carrier has a chance to do so.
Disabling devices allow drivers to turn off their ignitions remotely or while still inside the car. At the touch of a button, they may make the car nearly hard to drive. That is to say, if your automobile is stolen, you can pretty well guarantee it will not be driven anywhere. That appeals to insurers as well.
Anti-theft and/or disabling systems are becoming more common in new autos. If you’re in the market for a new vehicle, keep this in mind because either feature could help you save money on your monthly premiums.
There will be some initial fees whether the automobile is new and comes factory equipped with these gadgets or if you opt to add them yourself at a later date. Nonetheless, because these safety features can save you between 5 and 15% on your monthly car insurance premiums, you can recoup your original expenditure pretty quickly. Furthermore, you are enhancing the overall security of your vehicle, making it far less likely to be stolen. You can’t put a price on not having to deal with huge headaches.
How can I tell if my car has an anti-theft device?
In insurance jargon, this refers to any element built into your vehicle that makes it more difficult to steal, track, or reclaim. To find out what security features are installed in your vehicle, consult the owner’s manual or the manufacturer’s website.
Is LoJack going out of business?
In 2021, LoJack, a pioneer in the field of connected cars, will cease operations in the United States. It announced that it will stop accepting purchase orders in March, but that it would continue to provide stolen automobile services indefinitely.
LoJack sprang to popularity in 1986, at a time when vehicles and computers were mostly mutually exclusive, by providing motorists with a stolen vehicle recovery system that law enforcement agents could easily access. Even new luxury cars were pretty easy to steal with rudimentary tools in the 1980s, so this was groundbreaking. Because GPS wasn’t commercially available at the time, LoJack’s recovery system depended on a small radio transceiver that sends out a signal every 15 seconds on a frequency set aside just for it.
If your 1990 Ford Thunderbird, for example, was stolen, police officers might use the LoJack gadget to trace it down (hopefully in one piece). Thousands of autos were recovered thanks to the transmitter. In the 1990s, however, commercial GPS devices grew more prevalent, and trackers encroached on LoJack’s territory. Then, technology like GM’s OnStar provided motorists with an option to the system that was already installed in their vehicle.
LoJack retaliated by increasing its feature set to include boundary alerts and accident detection, as well as venturing out into other markets. It was notable for releasing a tracking system for stolen laptops. However, it, like Nokia, made a mistake and fell behind. CalAmp bought the company in 2016 with the intention of turning it around, but the competition (from direct competitors, start-ups like the recently launched RecovR, and carmakers) was already far ahead.
CalAmp said in a statement that it will handle dealership orders for Classic SVR, Connect, and Connect+ products until June 18, 2021, but it is requesting that clients submit all final purchase orders by March 15. It will continue to honor its service contracts with police agencies indefinitely, as abruptly terminating the initiative would have a severe impact on the law enforcement authorities who use its products.
Surprisingly, the announcement solely affects LoJack’s North American operations. Its worldwide operations will continue in nations such as Mexico, Italy, and England, among others. CalAmp noted that its foreign division has a subscription-based business model that is in line with its overall goal.