Sunday, November 29, 2009

U.S. Drivers Dropping Auto Insurance Coverage at Alarming Rate

posted by Shawn Gao

U.S. Drivers Dropping Auto Insurance Coverage at Alarming Rate
Despite the high rate of dropped auto insurance coverage, most Americans are finding a better way to respond to worsening economic conditions. reports increased usage as drivers seek lower auto insurance rates as a safer alternative to canceling their policies in response to the economic downturn

Lexington, Kentucky (Advertiser Talk) 28-Nov-2009 — Thinking about dropping your auto insurance coverage as a means to cut expenses in these recessionary times? Let’s face it, such actions are risky.

When asked if they were to drop their car insurance coverage due to economic conditions, 15% of respondents of a 2009 comScore survey¹ indicated that they didn’t think their insurance company would increase their rates when later reinstating their policy. And 72% of the respondents were not sure. Though most were not likely to go without auto insurance coverage due to the economy, few consumers understand the consequences.
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1 comment:

  1. Hi. Yes, I completely agree that traveling without auto insurance is a risky and expensive business. One shouldn't try to save money on auto insurance even though it seems to be very costly, especially if you or your family own more than just one car. However, such a policy can't never pay in the end.
    Take care,