If you try to keep up with the number of car insurance ads you encounter in a given week, you’ll probably stop counting by day two. It seems like insurance commercials are everywhere, and every company has a different feature, benefit, or discount to push your way. Instead of trying to figure out which ones are worth your time and which ones to avoid, we’ve put together this two-part post reviewing some of the most frequently advertised insurance features and what they have to offer you.
New Car Replacement
If you drive a new car, New Car Replacement can help assure you get another new car if you total your vehicle in a collision. Insurance companies only reimburse you for the loss of your vehicle based on its depreciated value. In most cases, this is not enough to purchase the same make and model again without coming up with a little extra cash to cover the difference. With New Car Replacement, the insurer pays for another vehicle of the same make, model, and year.
Several insurance companies offer various types of New Car Replacement. Liberty Mutual, for example, currently runs commercials for this coverage, advertising total replacement during the first year of ownership and before the vehicle reaches 15,000 miles. Other companies extend the coverage longer, as in the case of Travelers Insurance, which offers New Car Replacement for up to five years of ownership. Talk to an independent agent here at Gutman Insurance for more information about this protection and whether it could be right for you.
Safe Driving Bonus Check
If you’ve been accident-free for an extended period of time, Allstate hopes to attract your business by offering you a Safe Driving Bonus every six months. The Safe Driving Bonus Check is awarded to accident-free drivers who enroll in the Your Choice Auto Program – a program that requires good credit, a good driving record, and an additional cost. The bonus is awarded at the end of each policy period for an amount worth up to five percent of the paid premium. If you paid $900 for your family’s auto insurance premiums during the previous six months, for example, the bonus check would be worth no more than $45.
Of course, Allstate is not the only game in town when it comes to safe driving rewards. Other insurance companies also offer their own incentives for safe driving, such as special discounts or premiums and deductibles that get smaller over time.
Roadside Assistance is an optional coverage that can be added to almost any insurance policy. You’ve probably seen at least one Liberty Mutual commercial advertising this feature by presenting vulnerable situations in which drivers could need help. From flat tires to breakdowns, Roadside Assistance is designed to provide around-the-clock help when you need it the most. If you do not already have this coverage, talk to an agent here at Gutman Insurance about adding it for you and the other drivers on your policy.
Bundle and Save
Finally, we’ll end part one with the Bundle-and-Save discount often advertised by Progressive Insurance. The idea is to attract more of your business by offering a small discount on your premiums when you bundle auto insurance with other types of coverage, such as home, renters, or condo. Several companies offer a similar discount, and some even include extra savings for insuring RVs, boats, and motorcycles, too.
Remember that bundling auto insurance with other types of coverage can yield extra savings, but it’s not always enough to offset the better rates offered by another insurer. You should always comparison shop through your independent agent to determine which combination of rates and discounts can provide the greatest value for your coverage.
Continue reading part two of our post, Advertised Insurance Features.