It is difficult to get through a 5-minute commercial break without seeing at least one ad for car insurance. In recent years, car insurance commercials have become much more frequent, dominating TV, radio, and even Internet advertising. Companies go to great lengths to get your attention, even going so far as to create special terms and benefits that make them stand out against competitors. While you may benefit from some of these advertised insurance features, most of them are not as unique as they may seem. Continue reading as we cover some of the most frequently advertised features and what they could mean for you.
Locksmith services, emergency fuel delivery, towing – these are the types of expenses no one wants to face. Perhaps that is why Liberty Mutual has been advertising its Roadside Assistance benefits, which promises to get you moving again when you break down, 24-hours a day. To get Roadside Assistance, drivers must opt-in by adding it to their policies for an additional charge. However, many policy-holders consider the benefits well-worth the cost, if for no other reason than having peace of mind in the event of an unexpected emergency.
Although Liberty Mutual has been advertising this service lately, it isn’t the only insurer ready to give you a tow or help you change a flat on the side of the road. Nearly all insurers offer similar coverage, although the features may vary from company to company.
Everyone loves a discount, and State Farm knows it. That is why they frequently advertise their Discount Double-Check, even enlisting a sports celebrity to help sell you on the benefit. With the double-check, State Farm promises to comb through every insurance policy to ensure you are getting all the discounts you deserve. While this does have the potential to find overlooked discounts, we argue that any good agent should be doing the same.
Here at G&L Insurance, we can thoroughly check for discounts from multiple insurers, not just one like a State Farm agent would. Since different insurance companies have varying algorithms and discounts, this could actually save you much more on car insurance than would be possible by checking discounts with only one carrier.
Bundle and Save
If you’ve ever bought groceries from a warehouse store, you know how easy it is to get discounted prices when you are willing to purchase items in bulk. The same is true of insurance, and thanks to Progressive’s Bundle-and-Save commercials, more people are looking to save money on car insurance by purchasing their renters or home insurance from the same carrier.
Nearly all insurance companies offer discounts for brand loyalty, not just Progressive. Most provide savings when you bundle auto and home coverage, but some also include other insurance lines in bundling discounts, such as RV and boat insurance. If a different carrier provides your auto insurance than your home or renters insurance, talk with an agent here at G&L Insurance to ensure you are getting the best value for your coverage.
Name Your Price Tool
Wouldn’t it be great if you could decide how much you want to pay for car insurance? Much like certain travel websites that let you key in a bid for a hotel, Progressive began making it easier for customers to determine the cost of their coverage with the Name Your Price Tool. The problem with this ‘tool’ is that it provides more of a disservice for drivers than a benefit. To lower your rate to a price you are comfortable with, you must decide which and how much of each coverage to eliminate. That could leave you under-insured against a potential loss, ultimately costing you much more than the Name Your Price Tool may have saved.
When it comes to insurance, cutting coverage is never the way to lower your costs. There are many other, less risky ways of saving money on your premiums, and the team here at G&L Insurance is happy to help you find them.
Continue reading part two of our post, Advertised Insurance Features.