How the Presidential election could affect your car insurance policy

Monday, July 16, 2012

Amazingly, more car accidents take place during election time than any other time. Would you say that it is time to look for a cheap car insurance company that can cover you during times like these? Just looking at incidents that took place in the past, during election time, might be enough reason to find out how election time could affect your car insurance policy.

According to studies, most U.S presidential elections that took place over a period of more than 36 years since 1976, resulted in an increase of car accidents”

An increase of 18% in motor accidents were reported during election time. There could be several reasons why there is an increase in car accidents during presidential elections.

On voting day emotions run high and less attention is devoted to driving. There may also be increased speeding as people rush to poll stations to cast their votes. All the more reason why motorists should look at  insurance as a way to protect themselves in the event of a car accident. Another factor to consider is that there may be less police presence on actual voting days to monitor people who are speeding. The police are also less likely to crack down on motorists during election day as it may be seen as interfering with the democratic process.

Most states in America require people to have auto insurance, and you may assume all motorists follow that requirement. This is not the case. According to the Insurance Research Council, as much as 25% of drivers are uninsured.

Does this make you think that you would not be covered if you are involved in a collision where the other party is not insured? Luckily for you there are ways to prevent this by adding extra coverage when you take out cheap car insurance. It is known as UM (Uninsured) or UIM (Under-insured Motorist) coverage where you will be able to pay for injuries sustained by you and the passengers with you. In some instances it might also cover any damages to your vehicle.

One thing is for sure, motorists will do themselves a favor to take out cheap car insurance to help them cover unexpected car accident expenses during the 2012 presidential election.

While the natural inclination of car insurance companies might be to increase their rates during presidential election time, there is no specific indication whether auto insurance companies will actually increase the price of their car insurance policies. Auto insurance companies may very well be in competition with each other during election time as vehicle owners want to ensure they are adequately covered during these trying times while the presidential elections are on. Therefore, the chances are good that vehicle owners will search for cheap car insurance during this time.

It is highly unlikely that insurance premiums will be increased. This is in lieu of some good news coming from Honda who offers free insurance to buyers of electric vehicles that comes with an unusual option. Vehicle owners will get collision insurance without experiencing any deductibles.

General Motors offered free auto insurance for new car buyers in Oregon and Washington in 2011. Who knows what car insurance companies will offer vehicle owners this year?

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