Users can use the free tools independently or take advantage of instructional videos and online webinars that explain insurance
BEDFORD, NH – April 23, 2020 – ValChoice, a consumer data analytics company and insurance industry watchdog, today announced that numerous libraries have begun offering its financial literacy tools to help patrons save money on auto insurance during the COVID-19 pandemic. To make it easy for consumers to leverage these tools, ValChoice is also offering a series of instructional videos and is available to host webinars by request with libraries around the country.
“Auto insurance companies have gotten a lot of publicity lately by announcing rebates for their policy holders, yet most consumers are not seeing the savings,” said Dan Karr, CEO and Founder of ValChoice. “Using our tools, we guide consumers right through the process, sometimes requiring them to switch providers, to achieve the maximum savings during this time of economic crisis.”
“We are excited to offer these valuable financial literacy tools to consumers during these challenging times,” said Wendy Pothier, Business Librarian at the University of New Hampshire. “Most consumers are unfamiliar and a bit intimidated with insurance due to the opacity of the market. These tools and accompanying videos take the complexity out of this process, helping consumers get the coverage they need at a fair price.”
ValChoice tools and apps were developed to help consumers find the best insurance companies. The company was founded by a man who was seriously injured when hit by a car and neither auto or health insurance companies would pay the medical bills. After vowing to make sure other consumers did not have the same experience, ValChoice was founded to bring transparency to insurance. Unlike other online services, ValChoice does not sell insurance. Instead, the motivation behind the company is to help consumers do business with only the best companies.
Below are two common scenarios showing the range of savings consumers can find using the ValChoice car insurance calculator. For more detailed information on these examples, refer to this blog post: “Save up to 70% on Car Insurance due to COVID-19.”
- Single, 28-year old female, one car, commuter, saves between 5% and 65%, depending on coverage changes. This translates into $35 to $900, depending on coverage changes made and state of residence. Example changes include changing vehicle use, reducing mileage driven, changing deductibles, temporarily cancelling collision and comprehensive coverage, etc.
- Married couple, 45-years old, 16-year old daughter. Two cars for commuting, saves between 5% and ,71%, depending on coverage changes. This translates into $70 to $2,100, depending on coverage changes made and state of residence. Example changes include changing vehicle use, reducing mileage driven, changing deductibles, temporarily cancelling collision and comprehensive coverage on one vehicle and furloughing the second vehicle, etc.
Check with your insurance company about their business guidelines, state laws and regulations affecting your ability to qualify for savings.
Helpful links for libraries:
- Library staff can access tools and apps by using this link. Registration is free and ensures access to insurance information specific to where the library is located, including links to instructional videos.
- Click here for an example of how the University of New Hampshire library presents ValChoice financial literacy tools to patrons.
ValChoice® is the only company to provide consumers, agents and advisors with information on which home and auto insurance companies offer the best value: price, protection (claims handling) and service. The company’s analytics platform collects and analyzes millions of financial and complaint data points and delivers the results in an easy-to-use service that Forbes Magazine describes as “Carfax for insurance.” Using ValChoice, consumers are finally able to shop for insurance based on value rather than making decisions blindly based on price or advertising campaigns. ValChoice was established after its founder was involved in a serious accident and multiple insurance companies refused to pay his medical bills. He vowed to help others avoid the same outcome.
Copyright 2020. All rights reserved. ValChoice and the ValChoice logo are registered trademarks of ValChoice, LLC.