You’ve likely heard it said all personal auto policies are the same; the only difference is the price. Perhaps you’ve even made the assumption yourself at one point, but this just simply isn’t true!
Policy language and coverage varies from carrier to carrier, and while some may be similar, others – like the discounted, direct-marketed insurance policies – have coverage gaps or lack coverage altogether. As you find disparities in coverage, you’ll likely find disparities in price!
When considering these disparities, it’s important to consider the cost of a policy with its worth. We know what the cost of a policy may be, but what about worth?
Is a lower-cost policy worth finding out there is no coverage after a loss? Absolutely not! As an independent agent, we would like to share some differences to our policyholders and explain why the worth of a policy is more important than the cost.
Let’s take a look at how an Auto-Owners policy can increase the worth! While other popular policies have exclusions or limitations to reduce the price, Auto-Owners can provide coverage. For a complete description of coverages, the policy form must be consulted.
Auto-Owners Increases the Worth
- Auto-Owners can provide coverage for the use of a non-owned auto. Non-owned autos are more than just rentals! Even if you’re taking turns driving someone else’s car on a road trip, Auto-Owners can cover you, but can the others?
- Auto-Owners can provide coverage for vehicles over 10,000 pounds in GVW. Auto-Owners can cover you while renting a U-Haul or RV, but can the others?
- Auto-Owners can cover permissive users for more than just minimum limits. Can the others?
- Auto-Owners can provide coverage for undisclosed household residents. It’s not uncommon for households to have an adult child move back in for a period of time. Policyholders should tell us about every driver, but what if they haven’t yet? Auto-Owners can cover you, but can the others?
- Auto-Owners can cover business use of an auto. Do any agency employees ever run to the post office in their personal car with the company mail? Auto-Owners can cover you, but can the others?
- Auto-Owners doesn’t exclude coverage when it comes to claims involving DUIs or even major speeding tickets. Do the others?
- Auto-Owners can cover the theft of your vehicle without evidence of forced entry. When an insured accidently leaves the keys in the car and it is stolen, Auto-Owners can cover you, but can the others?
- Auto-Owners can cover physical damage for temporary substitute autos. If your car is in for service or repair and you’re driving a temporary substitute, Auto-Owners can cover the physical damage just as if you were driving your own car. Can the others?
- Auto-Owners allows 30 days for newly acquired autos to be scheduled. If a loss occurs before an insured has an opportunity to add the vehicle to an existing policy with liability coverage within that 30-day period, Auto-Owners can cover you, but can the others?
It’s clear no two policies are alike, whether it’s coverage, price or overall worth. A broader coverage form can provide for unexpected losses for which your policyholder might expect to have coverage.
An Auto-Owners personal auto policy offers that broad coverage expected by policyholders, providing worth at a reasonable price. You may select Auto Owners Insurance through Dave Reed Insurance, The Peace of Mind People®. Any additional questions, please call 888-600-7333.
Note: The analysis of coverage is in general terms and is superseded in all respects by the Insuring Agreements, Endorsements, Exclusions, Terms and Conditions of the Policy. Some of the coverage mentioned in this material may not be applicable in all states or may have to be modified to conform to applicable state law. Some coverages may have been eliminated or modified since the printing of this material.
Thanks to Karen Saenz, ASI, ACS, AIC, AIM, AINS, AIS, AIT, senior underwriter, personal auto underwriting for sharing this article.