Today’s drivers are inundated with insurance commercials at every turn. From billboards and radio to television and Internet ads, it’s hard to escape the constant stream of marketing. In fact, insurance companies spend billions of dollars every year on advertising – all with the hope of converting you into a lifelong customer. However, many of the commercials and ad campaigns only hit the highlights of certain coverages and features, conveniently leaving out or glossing over important information like costs, risks, or the ability to get the exact same benefits from another insurer. In this two-part post, we will explore some of the most frequently advertised insurance features and what they could mean for you.
We’ll start things off with a very important type of coverage you may have seen advertised on Liberty Mutual commercials. It’s called Roadside Assistance, and it is designed to provide help when you or another driver on your policy experiences a breakdown, flat tire, or some other vehicle emergency. It could prove especially beneficial if you or another driver on your policy feel particularly vulnerable in such a situation. With Roadside Assistance coverage, you know help is on the way any time of the day or night.
To get Roadside Assistance added to your policy, simply contact an independent agent here at Integrity Insurance. Nearly all insurance companies offer optional roadside coverage, although the exact coverage details may vary from insurer to insurer.
Safe Driving Bonus Check
If you are a safe driver, chances are insurance companies consider you a more profitable customer. Safe drivers tend to have fewer accidents, which translates to fewer claims. To reward drivers for being accident-free, Allstate created and frequently advertises the Safe Driver Bonus Check, which pays drivers for every six months they remain accident-free. Generally, the checks are rather small – worth about five percent of the premium paid over the previous six months. For a driver with a $600, it might be enough to buy dinner for two or perhaps a couple of movie tickets and some popcorn.
While the Safe Driver Bonus Check may sound like a nice perk, it is important to note the criteria and requirements associated with it. For example, only drivers enrolled in the Your Choice Auto Program can qualify to receive a check. Not only does it cost extra to be a part of the program (which could offset some of the Safe Driver Bonus), but drivers typically need a good credit score and a good driving record, too.
Conversely, there are also several other insurance companies that offer benefits and incentives to safe drivers, and some of them do not generate an additional charge. With some companies, it could be an instant discount applied to the policy premium. With others, it could be a program that gradually lowers your premium or deductible over time. The key is to talk with your independent agent to ensure you are getting the most from your safe driver benefits.
Speaking of safe drivers, even they have accidents from time to time. For that, Allstate has an Accident Forgiveness program, which likewise takes up a lot of airtime in Allstate commercials. Under this feature, a driver will not be surcharged or penalized just because of a first-time accident. Considering some insurers have been known to raise rates by as much as 40 percent and keep them elevated for several years following an accident claim, having this coverage could save hundreds or even thousands of dollars in premium surcharges.
Forgiveness coverage is also available from other insurance companies like Acuity, The Hartford, Progressive, and Nationwide. Most companies charge extra to add forgiveness to a policy, and there are usually special requirements, such as a clean driving record, to enroll. With an independent agent, drivers can shop and compare forgiveness coverage from multiple companies to determine which provides the better value for the benefits. Talk to an agent here at Integrity Insurance for more information about adding accident forgiveness to your policy.
Bundle and Save
The Bundle and Save discount from Progressive is the next advertised insurance feature on our list. It is not a special type of coverage, but instead the name of a discount that Progressive offers its customers when they purchase both home and auto insurance. The discount is also available to drivers who purchase renters, condo, or townhome coverage in addition to an auto insurance policy.
Progressive may advertise bundling discounts, but they are not new to the insurance market. In fact, most insurance companies offer some loyalty discount for drivers who bundle home and auto insurance. Some even extend discounts to drivers who also insure recreational vehicles, such as motorcycles, RVs, and boats.
Continue reading part two of our post, Advertised Insurance Features.