Car Insurance Myths
Understading about insurance coverage could be confusing, even with the most thorough info and the most in depth accounts of policies. Regardless of how much info is out there, the bigger concern is how much misinformation is out there concerning car insurance. As the result of this misinformation, there is a detailed mythology concerning car insurance that may cause a few potential consumers reservation with regards to applying for proper coverage.
Color Matters
One myth, believe it or not , is that the color of the vehicle makes a different when applying for insurance coverage. Lots of people think that coverage for the make, model, and especially the colour of the vehicle can make a difference in the overall quality and amount of coverage given. This is a myth, because it does not matter what color your car is. The coverage will be exactly the same.
Parking Ticket Problems
Some people believe that getting a parking ticket can have an effect on insurance rates. Surely if this were the case, we would all be dealing with skyrocketing rates on a regular basis. Car insurance rates aren’t affected by parking tickets or other similar situations. These tickets by themselves don’t count against any insurance record, however not paying tickets can impact your ability to renew your driver’s license which could,in turn, have an effect on your overall rate. The lesson learned here is clear: pay your parking tickets!
Speeding
Speeding is a significant problem that can have an effect on your driving record, but a single speeding ticket will most likely not affect your insurance rates. Obviously, if your single speeding ticket involves driving at a reckless speed a number of dozen miles over the limit, you can bet that your rates will be afflicted. One or two minor convictions for speeding most likely won’t have a say in your rates, however accumulate a couple of more of those and you can be assured that you’ll be paying more when it comes time to renew your policy.
It’s Not My Fault!
One myth about accidents is that you don’t have to pay deductible if the police assert that an accident is not your fault. This isn’t always the case. The police may not have considered you criminally responsible as a driver in the accident, but it’s your insurance company which holds the key regarding whether or not you will be paying. If the insurance company investigates the accident and finds out that it wasn’t your fault, you are in the clear and they’ll waive your deductible. If their findings are different, however, you’ll be paying.
Cheap is Best
Many individuals believe that insuring cheaper cars is more affordable than insuring more expensive, luxury cars. This is not the case. The premium paid for automobile insurance is based on a combination of factors, such as the original price of the car, any repair costs, theft frequency, and any claims history on the vehicle. If you are older, less expensive car has a history of repairs and problems with other claims, it will likely not be cheap to insure. In case a newer, luxury car lacks any history of repairs and doesn’t have claim history, it might be cheaper than your older car. Every rate is different.
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