OIC says drivers now can ask for 5-10% discount in insurance premium for dash car cameras

The Office of Insurance Commission (OIC) says owner of car installed with dash camera can ask for 5-10% discount for insurance premium from insurance firm.

Any insurance firm refusing to give discount to clients may face a fine of up to 300,000 baht in maximum.

This was revealed by the OIC secretary-general Dr Suthipol Thaweechaikarn over the weekend seminar in Ratchaburi.

He said the OIC has issued an announcement informing all insurance firms of the 5-10% discount in insurance premium for clients, which went into effect March 3.

He said the OIC had earlier raised the discount for cars installed with dash car cameras with the insurance association and came up with the 5-10% discount after seeing the 10% discount could be a high burden for the insurance industry.

Then the more flexible rate of 5-10% was agreed, he said.

Car insurers are  required to produce receipts of their dash cameras to get the discount from insurance firms, he said.

The price of dash camera is from 800 baht up to over a thousand baht, he said.

Failure to give discount to clients is subject to a penalty which carries a maximum fine of 300,000 baht, he added.

Commenting on the discount, a dash car camera shop owner said this will attract more drivers to install dash cameras on their cars.