Car Buyers Take Note: Nationwide Insurance Offers
Cash for Clunkers Tips
"Buying a new car is great time to shop for insurance deals”
FOR IMMEDIATE RELEASE
August 6, 2009
Contact:
Elizabeth Stelzer (614) 249-1025
stelzee@nationwide.com
Columbus, Ohio — This summer, thousands of consumers are flocking to dealers to take advantage of the federal Cash for Clunkers program, in effort to swap their guzzlers for more fuel efficient, safer replacements. Savvy shoppers who plan on taking over the keys to a brand-new car should also remember that no purchase is complete without considering how to best protect it year-round.
To ensure that the enjoyment of new car ownership lives on for many years to come, Nationwide Insurance suggests shoppers research the type and cost of protection in advance of the purchase.
“Buying a new car is also great time to shop for insurance to see what deals are out there,” said Larry Thursby, Nationwide vice president of Personal Auto. “Many consumers who are trading in a vehicle eight years or older might expect to see their insurance rates increase because of the higher cost of cars today. However, that may not be the case if your carrier offers special discounts.”
Nationwide Insurance offers hundreds of ways for consumers to save on car insurance. Smart shoppers should consider the following Nationwide Insurance tips when buying a car:
- Learn what discounts you qualify for: Nationwide offers hundred of ways for consumers to save. For example, Nationwide can provide discounts to customers who insure more than just their autos with our companies.
- Look for “new vehicle discount”: Nationwide offers a "new vehicle discount" that reduces our base price by up to 20 percent on newer model years. We can do this because our experience shows that new car owners tend to take better care of their vehicles (e.g. a new car owner will typically park a little further away from the front door of the grocery store rather than risk squeezing into a tight spot between two other cars that might put a "ding" in their door.)
- Pay special attention to any unique policy features: For example, Nationwide values its loyal customers and has introduced benefits such as accident forgiveness, fender bender forgiveness, deductible savings rewards, roadside assistance and guaranteed renewals on most renewals in order to reward safe drivers.
- Maintain continuous insurance coverage on all your vehicles: Beside renewal features that can be lost when a policy lapses, many consumers do not realize that insurance companies may charge a higher premium once a policy has expired without other coverage being in place.
- Consider your deductible amount: Consumers have the option to select the highest deducible they could afford to pay when an unpredictable event, such as a claim, occurs. For example, if someone can afford to pay $500 when a claim occurs, they may want to select this as their deductible amount in order to lower their insurance premiums. However, if suddenly being responsible for a $500 payment would cause problems in your budget, it would be wise to pay a little more insurance premium for the peace of mind that the additional coverage of a lower deductible provides.
- Ask about your teenage drivers: In addition to getting affordable teen auto insurance, your teen will need a lot of help on the road to becoming a smart driver. That’s why Nationwide created www.nationwidesmartride.com with the help of the National Safety Council. Nationwide also offers a teenage driver certification discount in a few states.
- Research your payment options: Nationwide customers who elect to have their auto insurance paid by having an account electronically drafted each month can save up to $48 annually.
- Inquire about counseling: As a Nationwide customer our agents are able to offer you expert advice and suggest customized ways for you to save with an On Your Side Review. On Your Side Review is a free consultation and insurance assessment that can help you learn how to determine the insurance coverage options that are right for your needs, goals and budget.
- Check-in with your agent if you have questions, if you have changed your driving behavior significantly, or when considering big changes in life.
“Some consumers just assume the higher the price of the vehicle, the more costly it will be to insure, that's not always the case,” added Thursby. “Insurers take several items into consideration when setting prices - this allows our customers to consider the entire cost of the vehicle, including insurance.”
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit www.nationwide.com.
Nationwide, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company.
