Nearly one third of all motorists could not correctly answer a multiple choice survey about their coverage.
The results of a recent survey of American drivers have just been released and they have revealed that only 32 percent of motorists have an understanding of the basics of auto insurance.
The questions that were asked involved the very basic details regarding vehicle coverage.
The survey’s questions asked about the difference between collision and comprehensive auto insurance, the purpose of gap coverage, and other details that are considered to be quite basic within the industry. The survey involved the participation of 500 drivers who were asked to complete multiple choice questions.
The average score on the auto insurance survey showed that there is a great deal of confusion about the coverage.
The average score of the participants was 32 percent. When broken down into various demographics such as age, gender, and region, the highest scoring group still earned only a 39 percent average.
According to Michelle Megna, editor of the survey, “Drivers may see their policies as gobbledygook.” She added that “Their eyes are moving over the words but there’s no understanding.”
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What was interesting about these survey results was that the respondents who stated that they felt that their level of auto insurance understanding was “terrible” had an average score that was notably higher than those who said that their understanding was “excellent”. The participants who said that their understanding of the coverage was “terrible” had an average score of 28 percent, while those who said that their understanding was “excellent” received a 26 percent average score.
The group that said that they felt that their understanding of auto insurance was “good” was the one that received the highest overall average, which was 34 percent.
Even in the highest group, the low average score indicates that it is likely that motorists are making some mistakes when they are choosing and renewing their auto insurance policies. This is because they are basing their choices on something other than an actual understanding of the coverage that they require. It is recommended that drivers take the opportunity to speak with a professional agent to identify the form of coverage that they require, and especially for identifying potential discounts.