LoJack Discount: Can using LoJack lower car insurance rates?

You spent a lot of your hard-earned money on your car, so it goes without saying that you don’t want it to get stolen. Recently, you invested in a LoJack system for your vehicle, and you are now wondering if having this device will lower your car insurance rates. Keep reading to learn more about this innovative device and if it will have a positive impact on how much you pay for car insurance.

Installing LoJack Lowers Car Insurance Rates

Here is some great news — having a LoJack on your car should reduce your comprehensive car insurance rates by 5% to 25%. The amount you will save is dependent upon where you live, and also which company you are insured with. Granted, a 5% savings may not be as large as you were hoping for on your car insurance, but if you are getting the unit anyway and can afford the LoJack cost, it is definitely worth asking whether your insurance company offers a LoJack discount.

What is a LoJack?

The LoJack stolen vehicle recovery system is a battery-operated unit that is installed in your vehicle. It helps law enforcement to track, and hopefully recover, your car after it has been stolen. When you buy a LoJack for cars, a certified technician will hide it in your vehicle, and your vehicle will also be registered in the LoJack database. 

If you discover that your car has been stolen and you file a report with the police, the law enforcement computers will send a silent radio signal to your vehicle. As long as your car is in a LoJack coverage spot, the unit will be activated, which in turn will help the police to track your car, locate it, and return it to you. 

Insurance Companies Offering Anti-Theft Discounts

A large number of car insurance companies offer an anti-theft discount. You will need to reach out to a company directly to see if it specifically offers a LoJack insurance discount. Those companies that do include:

• 21st Century
• AAA
• Allstate
• Amica
• Country Financial
• Esurance
• Farmers
• GEICO
• Liberty Mutual
• Nationwide
• Progressive
• USAA

If you have insurance with a company that is not on this list, contact it to see if it offers the LoJack insurance discount.

How can I save money on car insurance rates?

If you find that your insurance company does not offer a discount for having a LoJack installed, or if it does but you were hoping for larger savings, take heed — there are many other ways that you can get auto insurance discounts.

For instance, if you have a car alarm or other type of security system in your vehicle, you may qualify for anti-theft insurance discounts. In addition, most auto insurance companies offer various discounts on vehicles for many drivers, including:

• Having more than one car on your policy
• Completing a defensive driving course
• Being accident- and violation-free for a long period of time

Another way that you can save on auto insurance is if you consider raising your deductible. For instance, if your deductible is currently $250 and you raise it to $500 or $1,000, you should see a fairly substantial reduction in your car insurance rates. While you will have to pay more out of pocket when you file a claim, the monthly savings on your premium can make this option a financially savvy choice.

Final Thoughts: Does LoJack lower car insurance rates?

If you invest in a LoJack, we certainly hope you will never have to use it. Unfortunately, as the FBI notes regarding motor vehicle theft, over 721,000 people had their vehicles stolen in 2019, which is the most recent data they have available. 

Even if your car is never stolen, installing LoJack in it may give you invaluable peace of mind. And knowing that the LoJack price will eventually be covered based on the savings on your car insurance makes buying one a sound decision.