A recent RSA study in Canada has revealed that the overwhelming majority of motorists don’t fully understand the terms and conditions of their auto insurance policies. The survey, which was implemented to assess the purchasing trends and product knowledge of Canadian auto insurance consumers, showed that only 15% of road users completely understood how their levels of coverage worked.
Understanding the contents of a policy can be a vitally important factor in controlling costs. If a road user has a firm grip of the type of coverage needed, sourcing relevant auto insurance quotes will become much easier because unnecessary protection can be filtered out before the policy is actually purchased. This will ultimately reduce premiums and save money over the longer term.
There are a number of different ways to establish the credentials of an individual auto insurance policy and perhaps the best of them is to carry out a certain amount of research before auto insurance quotes are applied for. Older vehicles will not need the extensive levels of coverage that might be required on a new or high performance model. Attributes relating to the driver will also have an effect on auto insurance rates and carriers should be informed of any relevant details that can have an influence on the final agreed premium.
By filling in the gaps, there is no doubt that Canadian motorists can dramatically lower their auto insurance rates and the survey should serve as a reminder that effective research and price comparison techniques are of complete importance.