THE problem of finding insurance for high-risk vehicles at reasonable rates, which even some insurers have described as ridiculous, may be eased by the adoption of clear rules for vehicle security by insurance companies.
Insurance for theft-prone vehicles may be more easily obtained under a new system of compulsory car security installations adopted by Winterthur Swiss Insurance Asia.
Most insurance companies do not specify a particular make of alarm, but Winterthur has put its weight behind the Cyclops alarm and immobiliser.
The Swiss insurer now demands that all high-risk vehicles insured with the company are fitted with the Cyclops alarm and immobiliser, and advises other clients with lower-risk cars to install the anti-theft system.
The insurance group will consider requests for insurance coverage that it would otherwise have turned down, provided the Cyclops alarm system is fitted.
Cyclops is available to Automobile Association members for $3,800 and to other buyers for $4,700.