We continue with Part Two of our post, Advertised Insurance Features.
We’ll start with the Discount Double-Check from State Farm. This is not coverage, but rather a name the company uses for the service it provides to its customers. With the Discount Double-Check, agents are supposed to ‘double-check’ for discounts to ensure you get all of the savings you qualify for.
In the commercials, agents find discounts that were otherwise overlooked, saving customers additional money. However, it is important to note that the discounts are only State Farm discounts – not those offered by competing insurers. On the other hand, an independent agent can do the same thing, only with multiple insurance companies at the same time.
If you’ve ever financed a new or new-to-you vehicle, you were probably offered GAP insurance. Like the name implies, GAP is designed to pay the difference between your insurance settlement and the balance of your loan when you total your car, essentially ‘filling the gap.’
You only need GAP coverage when you owe more on your car than the vehicle is actually worth, but that doesn’t stop lenders and dealers from selling you GAP protection that covers the entire life of the loan – even after you have paid down the balance. Instead of spending hundreds of dollars in upfront premiums for coverage you may not need, we recommend talking with an independent agent here at Patriot Insurance about adding GAP to your insurance policy instead. That way, you can drop GAP protection when you no longer need it, ensuring you only pay for the coverage you actually want.
Name Your Price Tool
Everyone wants to save money on car insurance. Perhaps that is why Progressive began marketing its Name Your Price Tool, which allows users to see how various policy adjustments can affect the cost of insurance. While this makes it easier to get the cost of coverage into a favorable range, it also allows users to pick and choose which coverages to reduce or eliminate, which could leave a driver dangerously under-insured.
By working with a real agent instead of a software system, you get personalized service and advice based on your individual needs and risk factors. We here at Patriot Insurance know how important it is to have the right limits, and we always work to maximize your savings by comparison shopping and applying discounts – not by jeopardizing your coverage.
Bundle and Save
Finally, we end our post with the Bundle-and-Save discount advertised by Progressive Insurance. Due to the frequency of these commercials, it would be easy for a driver to assume that Progressive is the only insurer offering bundling discounts. In reality, nearly all insurance companies offer loyalty discounts when you bundle home and auto or renters and auto. You may even qualify for additional discounts if you bundle other lines of coverage, such as motorcycle or RV insurance.
Always seek the advice of your independent agent before pursuing any particular coverage you see offered on TV. Chances are there is much more to the story than meets the eye, and our job is to help you find the whole truth – not just the part the insurance companies want you to see.