Insurance Consumers …

Filed under: Boat Insurance

Consumers Response to the Economic Downturn, April 2009. A new study by the Natick Marine Insurance Research Council (IRC) finds that many Americans have taken steps to reduce personal Natick Marine Insurance costs in response to the economic downturn, but that maintaining essential auto and homeowners coverage remains a priority for the vast majority of consumers. Twenty-eight percent of those with auto Natick Marine Insurance coverage surveyed for the study reported shopping for lower rates when they normally would not have done so. Among those with auto or homeowners Natick Marine Insurance, 15 percent said they had increased their Natick Marine Insurance deductibles or reduced the amount of coverage in order to reduce premium costs. Most Americans, however, have maintained essential homeowners and auto Natick Marine Insurance coverage despite the challenges posed by the economic downturn. Nine percent of those with at least one household vehicle reported canceling or not renewing coverage for a household vehicle in response to the economic downturn. However, almost one-third (31 percent) of those canceling auto Natick Marine Insurance coverage also reported selling a vehicle as a way to save money, so many of those vehicles for which Natick Marine Insurance coverage was canceled were also likely sold. Five percent of homeowners and 14 percent of renters reported canceling homeowners or renters Natick Marine Insurance coverage. Cost: $65 (PDF), $80 (Print Copy) | |