We continue with Part Two of our post, Advertised Insurance Features.
New Car Replacement Coverage
You probably know that your brand new car will quickly lose value the second you drive it off the lot. That could be a big problem if you total your car and hope to buy another one. Instead of taking a financial hit, some insurance companies, such as Liberty Mutual, offer special coverage that will replace your totaled car with a brand new one – or at least a better one.
Known as New Car Replacement, this coverage is available to drivers with cars that are less than one year old and have fewer than 15,000 miles on them. Older models or those with a greater number of miles can qualify for better car replacement, which promises to replace a totaled vehicle with one that has 15,000 fewer miles and is one model year newer.
Just because an insurance company advertises this benefit, however, does not mean it is the only insurer that offers it. In fact, several other insurance companies offer similar benefits, and some of them even offer better terms. Travelers Insurance, for example, offers brand-new vehicle protection long past the first year. If you opt for their new car replacement coverage, you can get a brand-new car to replace your totaled vehicle anytime within the first five years of ownership.
Whether you have a long commute or you are concerned about a young driver on your policy being stranded on the side of the road, Roadside Assistance can prove beneficial in a pinch. While some insurance companies like Liberty Mutual advertise this benefit regularly, the truth is nearly all insurers provide some form of this coverage. In most cases, it can pay for assistance when you lock yourself out of your vehicle, run out of gas, or get a flat tire. Talk with an agent here at Killey Insurance for more information about Roadside Assistance and which company’s benefits could be right for you.
Your rates shouldn’t go up just because of an accident, and Allstate is not the only company that feels that way. If you’ve seen Allstate’s Accident Forgiveness feature advertised on TV, you already know this benefit assures you will not be penalized for your first accident even if you are at-fault.
To get Accident Forgiveness, you must add the benefit to your policy. Since it is optional, it does come at an additional cost. However, there are other companies besides Allstate offering similar protection. Here at Killey Insurance, we can help you shop around for a policy that includes benefits similar to Allstate’s Accident Forgiveness. Several companies, such as Progressive, Nationwide, Acuity, and Travelers offer the benefit, and some, such as Integrity Insurance, even offer it for free to customers who have been policy-holders for at least five years.
Discount Double Check
It always pays to double check for discounts, especially when it comes to your insurance. While State Farm has popularized its Discount Double Check, they are not the only ones capable of searching for overlooked savings. In fact, State Farm agents are limited to double-checking savings from a single company, whereas an independent agent here at Killey Insurance can search for discounts from multiple companies at the same time.
As you can see, you cannot trust everything you see or hear in commercials. Some advertised insurance features can be highly beneficial, but they may be available from more than one company. Always consult with your independent agent if you have any questions about special insurance benefits and whether they could be right for you.