One-question Survey Results
In my many years in the insurance industry, I’ve come to realize that though some folks know a bit about insurance, many have some misconceptions.
At our exhibit at the Vista Chamber Business Expo on October 9th, we asked our booth visitors to participate in our Quick One-Question Survey…
“Which of these options do you think most drivers do NOT have on their auto insurance policy because they think it will cost too much?”
The options were:
> Uninsured Motorist
> Rental Car Coverage
One important thing to note is that these are not just options in the survey, they are actually all options on your auto insurance… NONE of them are REQUIRED.
Here are the results:
20% chose Uninsured Motorist
43% chose Medical
37% chose Rental Car Coverage
Now here are the numbers!
For demonstration purposes, we are using a single female, aged 28 years, driving a mid-size sedan who lives in zip code 92054 and has a good driving record.
Uninsured Motorist covers you and the people in your vehicle if you are hit by an uninsured motorist. Interestingly, many who participated in our survey told me that “they knew this coverage was required by the state”, but it’s not. CA only requires Liability at 15/30/5
To add Uninsured Motorist to her policy, our demonstration lady would pay just $13.00 Annually (that’s per YEAR NOT per month!) in addition premium to her current policy.
Medical covers you and the people in your vehicle for medical expenses NO MATTER who is at fault.
To add Medical coverage to our demonstration lady, she would pay just $18.00 Annually in addition to her premium.
Rental Car Coverage
Rental Car coverage allows you to be able to rent a car in the event you have an accident, and “No, you cannot rent a car, go to Vegas for leisure time, come back and get reimbursed for your rental expenses.”
To add rental car coverage to our demonstration lady current premium would just be an additional $45.00 annually.
In closing, after 16 years of working for both insurance brokers and insurance companies, I have seen and experienced many of the typical misconceptions the average person thinks about their coverage and know how to help correct these misconceptions. If you would like me to take a look at your current policy or policies for auto or other lines like homeowners, renters, boat/rv or motorcycle, give me a call at 760.650.5547 or submit our complimentary insurance review request form online and follow us on twitter @policypointins.