How is it that so many people are unaware they only have liability coverage? I often see posts from individuals who are surprised to learn they don’t have comprehensive and collision insurance, leaving them unable to afford repairs for their cars. This seems to be a widespread issue. How does this happen?
How do so many not know they only have liability coverage?
It really is surprising how often this happens! I think there are a few reasons for it. First, when people are shopping for car insurance, they may focus on getting the cheapest premium and overlook the details of what their policy actually covers. It’s easy to assume that comprehensive and collision coverage are included, especially if they have had those coverages in the past.
Another factor could be a lack of understanding of insurance terms and options. Not everyone is familiar with the difference between liability and full coverage, which can lead to confusion when discussing policies with insurance agents. Additionally, life changes such as moving to a new state or getting a different job might prompt people to switch insurance companies without fully realizing what their new policy entails.
There’s also the possibility that people simply forget to review their coverage regularly. Insurance needs can change over time, and it’s important to reassess what level of protection is necessary for your individual situation. Overall, it’s a good reminder for everyone to periodically review their insurance policies and make sure they’re clear on what they have.