Get to know auto insurance companies that pride themselves on their low premiums on national television, radio, and social media. They really want you to internalize their messages.
The truth of the matter, however, is that there may be a misunderstanding about their meaning.
“Replace your current coverage with ours,” they proclaim, “and you’ll find savings on your auto insurance!” Or “Give us ten minutes and we’ll present you a cheaper rate than others.”
The actual facts indicate that most vehicle drivers will not get any savings by switching to a direct insurance company. This is because no employee company has the means to offer coverage other than its own. The glitter of an economic quote can actually be the mask that covers a higher insurance deductible and less liability coverage.
In order to emphasize this important lesson, we provide you with this real narrative that involves someone who has decided to go with the ability of an independent agency to locate auto insurance tailored to him.
A motorist who had previously been insured through one of these highly advertised employee companies promoting “cheaper rates” decided to turn to an independent agency known for its impeccable customer service.
Following a review of this man’s “cheap” auto policy, the insurance specialist discovered some serious coverage gaps. Realizing this could cause serious problems if the insured were ever involved in a car accident, he went to work, examining the many policies offered through his company’s network of suppliers. He identified an excellent plan that covered the gaps and had a low competitive rate attached.
The client was satisfied with the discovery and left with a new peace of mind thanks to his new acquired policy.
As fate would have it, not long after this insured was involved in a car accident that left his vehicle in overall condition. Since the other driver was at fault in this collision, it was assumed that the other driver’s insurance company would pay the damages.
But there was a big problem in this. The other insurance company offered to pay an amount far less than the total value of the car.
It was then that the new insured whose car had been added together decided to call his new company. The insurance company didn’t bother him, no problem. Instead, they sent him a check made out to the amount that truly represented the value of his car, three thousand dollars above what the guilty driver’s insurance company offered!
Guaranteed: the happy ending of this realistic story would have been very different if the “economic premium” policy with coverage gaps had been put in place.
Now, you’re the judge, is “economic” politics really “economic”?