Is each of the following 4 beliefs (B) about auto insurance true or false?
- B1: The color of an automobile impacts the price of the insurance premium.
- B2: Insurance doesn’t cover repairs for the driver at fault.
- B3: Even when the accident isn’t the driver’s fault, the driver has to pay out of pocket for repairs.
- B4: Auto insurance replaces items stolen from a vehicle.
These are the facts (F) associated with those 4 beliefs:
- F1: 42% of respondents think so. WRONGO. Who believes this? 53% are Millennials, 44% graduated from college or grad school, and 36% earn $75k+ annually.
- F2: 44% of respondents think so. WRONGO. 50%+ of Millennials think so.
- F3: 20% of respondents think so. WRONGO. Liability covers the other party's expense while collision and comprehensive protect drivers' against their own loss from collision or non-collision damage.
- F4: 34% of respondents think so. WRONGO. Homeowners and renters insurance pays for the loss of stolen property.
In the end, not only weren’t the survey’s participants aware of what auto insurance covers, some also don’t understand what affects auto insurance rates.
Let the discussion begin…
To read the USA Today article, click on the following link: