5 Auto Insurance Facts And Statistics

Auto Insurance may be a basic need, but that doesn’t mean everyone knows a lot about it.

Here are some intriguing Auto Insurance statistics and facts that may peak your interest.

Owning a vehicle and Auto Insurance have become a common necessity in modern times. Everyone prefers having a personal and safe ride wherever they go. In fact, most states in the USA require you to get Auto Insurance for your vehicle by law. Hence, it’s quite a common concept for most individuals residing in the country.

However, there are many things related to Auto Insurance that still aren’t common knowledge. These intriguing details can help every individual keep up with the road laws and have a safer riding experience.

So why don’t we get right to them? Here are some interesting Auto Insurance facts that we think you should know:

  1. The national average cost of full coverage of Auto Insurance is around $1,470

    These numbers differ from state to state and also change annually. But if you reside in a state that has a price higher than the average, then you probably live in the expensive side of the country. And we advise you not to get flabbergasted if Auto Insurance is almost double in your state of residence. In some regions, it may also get as high as $2,700.

  2. State Farm is the biggest Auto Insurance company in the USA

    State Farm Insurance has the largest Auto Insurance market share in the USA. GEICO, Progressive, and Allstate follow them. So, it’s safe to say that these four are the most trusted Car Insurance providers in the nation. If you’re planning to buy a new vehicle or looking to renew your insurance, then it would be wise to check them out.

  3. Your annual mileage affects the cost of your insurance

    You read that right! Lower annual mileage can reduce the cost of your Auto Insurance premiums by nearly 26%. This means your insurance cost can reduce by more than $400 every year. Think about this every time you sit in your car to drive to the grocery store that’s just a couple of blocks away.

  4. Over 770,000 cars are stolen in the USA every year

    Grand theft auto is a very common crime in the USA. That’s why a car is stolen almost every minute anywhere in the nation. The safest solution to this problem is making sure your Auto Insurance covers the cost of replacement. Apart from that, you can make sure that you park it in a secure location, don’t keep any valuables in the car, and always lock the door. You can also install tracking software that helps you keep an eye on your vehicle at all times.

  5. Around 40% of accidental car damage comes from parking or maneuvering

    The parking lot is like an obstacle course for everyone. Not only do you need to take care of your car, but you also need to watch out for other vehicles. And more often than not, both drivers lack the coordination to make that happen safely. This leads to 40% car damages, 70% auto liability insurance claims, and 85% full physical damage claims. Our advice is to have patience and wait for your turn. It’s better to wait now than to go through the hassle of car maintenance and claims later.

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We hope these facts about Auto Insurance have piqued your interest. There are many more tips and advice we have to offer. You can call our insurance experts on 855-5EXCEED or write to us at [email protected] to learn all about Auto Insurance.

You can also contact us if you are looking to inquire about Auto Insurance costs and premiums. We will be happy to help you. You can also click on the Get A Quote tab to get Auto Insurance quotes from various providers. Ensure you do all your research and compare all the Auto Insurance coverages before deciding on the perfect plan for your needs. Stay tuned for more blogs about insurance-related tips and advice. And always remember, an insured life is a happy life

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