The Most Common Auto Insurance Myths: Vans Rates and Automotive Automobile Reviews

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The Most Common Auto Insurance Myths

These Common Myths Could Be Costly!Car insurance is required in almost every state by government law, and can protect the insured financially in the event of a minor to severe car accident. car insurance is a valuable asset; however, there are a lot of myths associated with it. This article will look at 5 common myths that many Americans believe about car insurance, and how you can protect yourself from these myths.

Car insurance myth 1: The color of your vehicle affects your premium rate

Growing up I remember my parents telling me to stay away from a red car because my car insurance would skyrocket; however this is not the case. The color of your vehicle, whether that is black, or red will not increase the premium that you pay on your car insurance policy. Why the misconception? Typically “sportier” colors belong to sportier vehicles with high risk rates to the insurance companies, thus the myth of higher car insurance. Higher insurance premiums were caused by the risk factor of the vehicle, but not by paint color.

Car insurance myth 2: Comprehensive coverage will cover everything

Comprehensive car insurance is a valuable asset; it does provide medical payment coverage, liability coverage, and even covers repairs to your vehicle in the event of an accident. Comprehensive coverage does not cover everything; a comprehensive plan does not always cover theft, natural damage (hail, snow, ice, etc.). Comprehensive plans vary at every insurance company, therefore make sure you know what you are being covered before you make the purchase.

Car insurance myth 3: My car insurance covers every vehicle I drive

This common myth can be very costly in the event of getting in an accident with a vehicle that is not your own. The owner of the vehicle involved in an accident is the one at fault. For instance if you borrow a friends vehicle and get involved in an accident then the friend will be liable, your insurance policy is not transferable from vehicle to vehicle.

Car insurance myth 4: I am covered for the full amount I owe on my vehicle with a comprehensive plan in the event of an accident

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The Most Common Auto Insurance Myths
The Most Common Auto Insurance Myths

Category Automotive Automobile Reviews


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