Car Insurance Myths
Understading about insurance coverage could be complicated, despite the most thorough info
and the most in depth accounts of policies. Regardless of how much information is out there,
the bigger concern is how much misinformation exists 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 appropriate coverage.
One myth, believe it or not , is that the color of the vehicle makes a different when applying for
insurance coverage. Lots of people believe that coverage for the make, model, and particularly
the color of the vehicle could make a difference in the overall quality and amount of coverage
given. This is a myth, as it doesn’t matter what colour your car is. The coverage will be exactly
Parking Ticket Problems
Many people think that getting a parking ticket can have an effect on insurance rates. Certainly
if this were the case, we'd all be facing skyrocketing rates regularly. Car insurance rates are not
affected by parking tickets or other similar situations. These tickets by themselves don't count
against any insurance record, but not paying tickets can impact your ability to renew your
driver’s license that could,consequently, affect your overall rate. The lesson learned here is
clear: pay your parking tickets!
Speeding is a serious 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 one speeding
ticket entails driving at a reckless speed several dozen miles over the limit, you can bet that
your rates will be afflicted. 1 or 2 minor convictions for speeding likely will not have a say in your
rates, but accumulate a couple of more of those and you can be assured that you will be paying
more when it comes time to renew your policy.
It’s Not My Fault!
One myth regarding accidents is that you do not have to pay deductible if the police claim that
an accident isn't your fault. This is not necessarily the case. The police may not have deemed
you criminally responsible as a driver in the accident, but it's your insurance company which
holds the key regarding whether or not you’ll be paying. If the insurance company investigates
the accident and discovers that it was not your fault, you’re in the clear and they will waive your
deductible. If their findings are different, nevertheless, you will be paying.
Cheap is Best
Many individuals think that insuring cheaper cars is more affordable than insuring more
expensive, luxury cars. This isn't the case. The premium paid for automobile insurance is based
on a combination of factors, including the original price of the car, any repair costs, theft
frequency, and any claims history on the vehicle. If you are older, cheaper car has a history of
repairs and problems with other claims, it will most likely not be inexpensive to insure. If a
newer, luxury car does not have any history of repairs and has no claim history, it might be less
expensive than your older car. Every rate is different.
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