Hartford Unveils Auto Insurance Survey Findings

The Hartford Financial Services Group Inc. has released survey findings that reveal while innovations in auto insurance -- such as first-accident forgiveness and a no-drop promise -- are important to drivers, most Americans don't know whether their current policy includes these features.

Almost two-thirds of respondents said they have had problems getting to work or running errands after an accident. However, the survey found only 18 percent of drivers know that some insurance companies offer coverage that pays for transportation, housecleaning or lawn care.

"In a tight economy like this one, consumers can't afford to be caught off guard by additional expenses or hassles," said Kevin Harnetiaux, senior vice president at The Hartford. "All drivers should take a few minutes to review their coverage and to consider whether they would be able to make ends meet should an accident occur."

In the nationwide survey, nearly 70 percent of respondents believed they can be dropped by their insurance company due to an accident or traffic violation. But, only 21 percent of consumers surveyed know that some companies offer a no-drop promise -- an auto insurance innovation that ensures you won't be dropped by your insurance company, even if you have an accident or traffic violation.

Eighty-eight percent of the respondents said they would be angry if they were dropped by their auto insurance carrier, yet 86 percent did not know if their current policy protects them from being dropped for accidents or traffic violations.

"Auto insurance has evolved and now may include a number of innovative, consumer-friendly features designed to minimize disruption and create a greater sense of security," said Harnetiaux.

Other key findings of the survey:

• Innovative features are increasingly important in the auto insurance buying process. Sixty-four percent of those surveyed want first accident forgiveness, nearly 62 percent say a no-drop promise is important to them and 56 percent cite a disappearing deductible as an important feature.
• Even though 59 percent of men and 64 percent of women say auto insurance is more innovative than it was 20 years ago, many aren't aware of specific developments. For example, just 24 percent of those surveyed were aware of disappearing deductibles and fewer than 23 percent knew about repair guarantees for damaged autos.

The Hartford has created an online guide that offers drivers a number of valuable tools, including a tips for buying auto insurance, the "anatomy of an auto insurance policy," and a glossary of common terms. The guide is available at www.hartfordinnovation.com.