Auto insurance can be downright baffling for consumers, and according to research from Forbes Advisor, 40% of insureds believe they have coverage in their auto policy that doesn't actually exist. From collision coverage, to deductibles, to PIP and everything in between, these confusing terms can easily jumble an insured's understanding of their policy. Outside of those who enter the insurance space professionally, many people never bother to learn much about insurance terminology or how a policy is constructed, which leaves the burden on agents to ensure their clients are fully aware of the scope of their coverage. In another deep-dive into the world of auto insurance confusion, insurance comparison platform Insurify recently published "The 5 Biggest Car Insurance Myths: What Most Americans Get Wrong About Their Policies," for which over 1,000 U.S. drivers were surveyed at the end of 2021. Drivers from all 50 states and all age demographics over age 18 were included in the survey. In the slideshow above, we'll break down the findings of Insurify's survey to see just how much Americans know about their auto policies, and debunk some common insurance myths.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
