We continue with Part Two of our post, Advertised Insurance Features.
Name Your Price Tool
The Name Your Price Tool is one of the most controversial advertised insurance features. When Progressive began marketing this ‘tool,’ it prioritized price before coverage, which ultimately puts unsuspecting drivers at risk. When you name your price, Progressive builds a policy designed to fit that budget – even if that means cutting down or eliminating very important coverages. It may not be until you file a claim that you realize the tens of thousands of dollars in coverage reductions you took were not worth saving a few bucks each month.
Here at Feivor Insurance, we commit to always putting your needs first. We believe there are better ways to save on car insurance than lowering your coverage. Talk with an agent at our office to learn how comparison shopping can minimize your insurance costs.
Bundle and Save
If you want to save money on car insurance, Progressive commercials suggest bundling multiple coverages together to get a discount. For example, if you own a home and a car, insuring them both through the same company could get some big savings. However, these discounts are not just limited to Progressive. In fact, nearly all insurers offer discounts when you buy your home and auto or renters and auto insurance from the same provider. Some even extend the discounts to other less common coverage lines, such as RV and boat insurance.
This type of coverage is available to help you when your car breaks down. It can provide peace of mind knowing there is always someone to call for help if your battery dies, you blow a tire, or you run out of gas. Although Liberty Mutual advertises Roadside Assistance as a feature of its car insurance policies, you can also find some form of Roadside Assistance coverage from nearly all other car insurers as well. Some offer it as an optional add-on, while others roll it into a package of coverages with extra perks for travel and lodging. Some insurance companies even offer it by default at no additional charge.
Insurers view collisions and claims as indicators of future risk. If you cause a car accident, you probably expect your insurance rates to go up. Allstate made their Accident Forgiveness program famous by claiming your premiums will not go up after your first accident. However, there are several other companies, such as Nationwide, Progressive, and The Hartford, that also offer this benefit to their best customers.
To qualify, drivers typically need a clean driving history free of accidents and moving violations. Some insurers may even implement additional requirements, such as good credit. Also, the guidelines for forgiving an accident can vary from insurer to insurer. Some companies may offer immediate forgiveness, whereas others make you wait a while after becoming a policy-holder. All of that usually comes at a cost, too. At Allstate, for example, you must enroll in the Your Choice Auto Program and upgrade to package that includes Accident Forgiveness.
As you can see, the insurance benefits advertised on commercials are often more complex than they first may seem. They may also be available from other insurers besides the ones promoting them. To ensure you are getting a good value for the coverage you need and want, always work closely with an independent agent here at Feivor Insurance.