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How can I benefit from a group auto insurance policy?


You can benefit more from a group auto insurance policy than a regular auto insurance taken individually because of its collective quality. When you go for regular car insurance, your person needs to be evaluated. Your age will be taken into consideration, your driving record and behavior, your gender and your car model and its brand. From these and other significant data, you will be provided a premium rate and whatever they may give, a low or a high one, you have to accept.

Let us say you are an employee of a very large marketing firm or just a member of a non-profit organization, you can have a lower premium rate with group auto insurance. You will notice that it has a significant difference when compared to the rate you are given individually. This is because the policy is given to the group itself and its characteristics and not on the individual information about its members. They will be coming up with an average premium rate for all of the members of the group.

When group auto insurance is provided, since the car insurance company will not be dealing with just one person but a group of people, they will give the insurance policy, at a sense, at its “wholesale” price that is why it is cheaper. Another benefit is that all of the members of the group can choose their own payment plan. They can pay monthly, quarterly, or even once a year based on their capability and their income. It is a very flexible plan. If at some point you are not happy with the policy anymore, you can easily get out of it. You will not be forced to stay in plan if you are really not interested anymore. Unlike when you have your own auto insurance, you will be tied to it and will have to follow certain obligations set in your car insurance policy.

Another good thing about group auto insurance is you can extend the benefit you are getting to your family members who will be applying for car insurance. They can also be awarded lower premium rates. You can also be assured that even though the plan gives you the privilege of these benefits, the quality of the set coverage in the group auto insurance policy is not compromised.

So, if you are interested to go for group auto insurance, you can approach the head of your group or any person that can help you know if you do have this type of car insurance available for you.