There’s nearly no way to flip through channels on the radio or TV without hearing a pitch for a particular insurance company. Virtually everyone needs insurance, and major companies spend big bucks to capture as much of the market as possible. As funny as some of the ad campaigns characters may be, it is important to find out the truth about various features that may sound too good to be completely true. Often, there is much more to these features than initially meets the eye. In this two-part post, we’ll explore some of the most frequently advertised insurance features and what they could mean for you.
If you’ve seen a Liberty Mutual commercial, there’s a good chance it was advertising the company’s Roadside Assistance coverage. This protection is designed to step in when you experience a breakdown, a flat tire, or perhaps lock your keys in your car. Liberty Mutual advertises 24-hour a day protection to give you peace of mind that you and the other drivers on your policy are covered.
Roadside Assistance is available from nearly all insurance companies, not just Liberty Mutual. It typically comes at an additional cost, and the benefits may vary slightly from insurer to insurer. Simply contact an independent agent here at Carrigan Insurance to add it to your policy.
Name Your Price Tool
If you could name your own price for all of your purchases, you would probably have a lot more money in your pocket. Progressive’s Name Your Price Tool is designed to capture the attention of drivers who like to have more control over the price they pay for car insurance. By visiting Progressive’s website, a user can get a quote and then make adjustments to coverage to see how it affects the cost of premiums.
Here at Carrigan Insurance, we caution drivers from using these features, as they make it easier to prioritize price over quality of coverage. A bare-bones policy is never a good exchange for a low price, as the savings now would pale in comparison to how much you stand to lose after a car accident, especially an at-fault accident that injures another person. Instead of putting yourself at risk of being under-insured, work with an independent agent who can assess your actual risk vulnerability and match you with a policy that fits your needs.
Safe Driving Bonus Check
The Safe Driving Bonus Check is a feature offered to eligible Allstate customers. It’s spotlighted in many insurance commercials where drivers brag about the checks they will receive for being accident-free. To qualify, drivers must enroll in the Your Choice Auto Program, which typically requires good credit and an excellent driving history. The program costs extra to participate in, which could offset some of the savings from the Safe Driver Bonus. Then, drivers must remain accident-free for six months to receive a bonus.
Typically, Allstate’s Safe Driving Bonus is limited to no more than five percent of the premiums paid into a policy over the previous six months. For a $500 policy, the bonus might equal up to $25 – perhaps enough to buy half a tank of gas. Alternatively, safe drivers could also find rewards by shopping around with an independent agent. Several other companies besides Allstate offer safe driving rewards, from upfront discounts to premiums and deductibles that diminish over time.
Bundle and Save
We’ll leave off part one of this post with the Bundle and Save discount from Progressive Insurance. If you are a homeowner, chances are you already know about the discounts available to drivers who purchase home and auto insurance from the same carrier. Progressive is just one of many insurance companies to offer savings, the likes of which can include other coverage lines like renters, condo, townhome, RV, and motorcycle insurance. Talk to an agent here at Carrigan Insurance to find out how much bundling could save you on your premiums.
Continue reading part two of our post, “Advertised Insurance Features.”