A new Agent Authority survey released this week by Nationwide found that more auto insurance customers are ready to give usage-based insurance a try, giving agents an opportunity to grow their business and enhance relationships.
As vehicle technology continues to evolve, opportunities for malicious attacks will likely grow while vehicle cybersecurity lags behind.
A mobile home park in Oregon burned in a wildfire and the owners have walked away from their burnt mobile homes. The cost to remove the burnt mobiles from the insured’s property is $3,000 each.
An insured’s 2018 Mercedes windshield needed to be replaced. The insured has comprehensive coverage with a $250 deductible, but the carrier denied original equipment manufacturer coverage for the windshield.
If the seller removes the vehicle from their personal auto policy, will the buyer’s existing policy provide coverage to the new car even if they haven’t added it yet?
When the ex-spouse is the second named insured on a personal auto policy and is being unresponsive, at what point are we able to remove them from the policy?
As new collector enthusiasts from Generation X and the millennial generation enter the market, agents have a great opportunity to work with an emerging segment.
“Selling classic car insurance is definitely a leg up,” says independent agent Kelly Haynes, “because clients call us for their regular auto or homeowners, and they don’t realize their local agent can offer classic car insurance too.”
As close to 76 million baby boomers reach retirement age, the classic car enthusiasts among them are looking to cash in on the hobby they hold so near and dear to their hearts.
Why the coronavirus pandemic has accelerated the demand for usage-based auto insurance—potentially transforming the market forever.
