Saturday, February 4, 2023
HomeInsuranceAuto insurance coverage revealed - what number of US drivers do not...

Auto insurance coverage revealed – what number of US drivers do not perceive their insurance policies?

Auto insurance revealed - how many US drivers don't understand their policies?

A staggering variety of American drivers – about 96% – don’t perceive the basic features of their auto insurance coverage coverage, a brand new survey by insurance coverage comparability web site Insurify has discovered.

The survey, which interviewed greater than 1,000 respondents, assessed how effectively drivers throughout America perceive their auto insurance coverage, asking them questions on their insurance policies, what it covers, and what elements have an effect on their insurance coverage charges.

It discovered that the common driver scored solely 56% on the survey – primarily based on customary scoring requirements, it will imply the respondents didn’t correctly perceive how their auto insurance coverage works.

Key findings of the examine embody:

  • 96% of drivers misunderstood no less than one key facet of their auto insurance coverage coverage, and greater than half have false assumptions about a number of options of their coverage.
  • 78% of drivers erroneously consider that complete protection covers injury to their car within the occasion of an accident.
  • 52% of respondents wrongly assume that bodily damage legal responsibility – required by most US states – covers their medical bills in an accident.
  • A 3rd of the drivers surveyed don’t apply for auto insurance coverage reductions, even when they know they’re eligible for them. It was additionally discovered that ladies drivers are considerably much less probably than males to use for reductions.
  • On the flip facet, 84% of drivers surveyed agreed that evaluating auto insurance coverage quotes between a number of suppliers can result in financial savings.

“The typical American driver spends over $1,632 on automobile insurance coverage a 12 months, however they won’t even perceive what that cash goes in the direction of,” commented Insurify supervisor of analysis and content material Kacie Saxer-Taulbee. “We needed to publish this report back to demystify automobile insurance coverage fundamentals and assist drivers make extra accountable selections when shopping for protection.”



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments