Representatives from the various insurance companies operating in the state of Pennsylvania are calling on motorists to be better educated regarding their insurance policies and rights. In a recent survey conducted by the insurance industry, researchers discovered that a large majority of car owners in the state have misconceptions about their insurance policies.
The study revealed that some 61 percent of respondents thought that their Pennsylvania auto insurance policies would cover stolen personal items from their vehicles. Situations like these, however, are covered by homeowners or renters policies. The same survey also found out that a measly 32 percent of all policyholders in Pennsylvania believed that they would be covered if their cars were stolen while they left them running.
With regards to car damage, more than half, 53 percent, believed that they would be covered if their vehicles’ frames get damaged because of potholes. Even so, 33 percent thought that their comprehensive coverage option would take care of the repair costs when in fact it is their collision coverage.
According to experts, the result of the survey only goes to show that motorists in Pennsylvania need to refresh their knowledge of their insurance policies. They point out that having extensive and comprehensive know-how of the various factors affecting the insurance industry is a must to keep on top of things.
A separate study conducted by other insurance providers also revealed startling results. For instance, the survey suggests that a large majority of motorists in Pennsylvania know a lot less about their insurance policies than they initially thought. Many of the respondents were unable to determine the specific coverage and protection their policies offered. Analysts say that many car owners were found to be confused regarding the types of insurance they carried and the factors affecting their deductibles. Before taking the survey, 91 percent of the respondents felt they were confident about their knowledge on their insurance coverage. After administering the survey, however, the same respondents reported a 21 percent drop in confidence levels.
The same study also discovered that 92 percent of the surveyed drivers felt confident that they have gone through their auto insurance policies well. Even so, only 19 percent expressed the same confidence regarding their deductibles. About two-thirds, or 66 percent of the respondents admitted to filing for insurance claims in the past.
Insurance experts say that car owners must never underestimate the importance of reading the fine print of their car insurance policies. They also recommend consulting analysts and specialists in the field of auto insurance to avoid any problems in the future.