Price is the top reason why consumers want to drop auto insurance providers

Price is the top reason why consumers want to drop auto insurance providers

INSURANCE
Many Americans who were thinking of dropping their auto insurance coverage said they were motivated by price. (iStock) The majority of Americans who were considering dropping their auto insurance providers cited prices as the main motivator, according to a survey by data company AnalyticsIQ. Fifty percent of respondents who were thinking about dropping their auto insurers reported that their policies were too expensive and 37% said they would switch carriers if they found a better deal. Almost all respondents said they had each of the major policy coverage types including liability, collision, medical payments, personal injury and comprehensive, as well as uninsured and underinsured, the survey said. Among respondents who did not have this particular type of coverage, 37% said they opted out of coverage because it was too expensive.…
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What auto insurance discounts are you eligible for?

INSURANCE
To find out what types of auto insurance discounts Canadian drivers can avail of, Insurance Business checked out the policies of some of the country's top car insurance providers. Here are the most common rate-reduction schemes these companies offer. The list below is categorized into discount types. Read more: Survey: Majority of Canadians lack auto insurance literacy Policy discounts 1. Bundling discount All insurers considered for the list offer discounts for policyholders who combine different insurance products. Bundling auto and home insurance with the same provider, for example, allows homeowners to slash up to 20% from their car policies. Tenants can also combine their auto and renters' insurance to save on premiums. 2. Multi-vehicle discount Another popular money-saving perk, insurance companies typically reduce premiums by as much as 15% for…
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What to do before renewing your auto insurance

INSURANCE
Every year, one thing's for certain. If you own a car, you'll have to renew your auto insurance. For many Canadian drivers, they'll shop around once when they first get insurance, then just let their insurance renew automatically without thinking much about it. But if you're one of the many people who aren't going into the office as often anymore, skipping the grocery aisles in favor of online ordering, and are driving less than pre-2020. In general, you should really know that less driving can lead to savings on your auto insurance premiums. To find out if your new driving habits could help lower your premiums, it all starts with one thing: knowing when your policy renews each year. The first thing you need to do is to know your…
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