Get The Real Facts About Car Insurance Myths
There are all sorts of rumors flying around about car insurance and how can consumers know which ones are true or not? We are here to provide you any information that you need to know about car insurance and dispel car insurance myths. Keep reading for more useful information on how to buy the best and most affordable car insurance.
Car Insurance Myth: Your Credit Score Won’t Affect Insurance Premiums
Your credit score does indeed affect your car insurance premiums. That’s why it is hard for people with bad credit to get health insurance. A good credit score determines your premium because it shows that you are good with managing your finances and that you are more likely to be responsible. If you have bad credit, you may see higher premiums because insurance companies usually believe that those with low credit are more likely to file claims.
Car Insurance Myth: The Color of Your Car Determines Your Premium
This is probably one of the most propagated car insurance myths of all. The color of your car has nothing to do with the cost of your car insurance. Some say that a red car will raise your rates more than a white or silver car. However, many other important factors about the car will come into play and affect that cost. This includes the year, make and model of course. Those factors help determine how hard it will be to repair the car should anything bad happen.
Car Insurance Myth: Seniors Pay More
Senior citizens are usually considered to be those who are over the age of 55. They are sometimes thought to be bad or at the very least feeble drivers. Some think that would raise the cost of car insurance premiums for seniors. However, older folks are often entitled to discounts for no other reason than they are a bit advanced in age. Hey, everyone should get something for living so long? Right? If you are older and also a member of AARP you may even be entitled to further discounts.
Car Insurance Myth: Soldiers Pay More
Current and former military members deserve the best. They have put their life on the line for the country and thus, they are entitled to a lot of special discounts. Some people think that soldiers pay more for car insurance, but just like with seniors, there are special discounts just for service members. It doesn’t matter which branch of the military you are in, all that it takes is the proper documentation and you can get a discount!
Car Insurance Myth: You Only Need the Minimum Required
Most states have a minimum required for car insurance, and many people think that is enough to cover their car. However, having only the minimum required may still leave you vulnerable and responsible for costs in car accidents. If you want to be fully covered, then you will make sure that you have enough coverage so that you will be able to handle anything that comes your way with confidence.
Car Insurance Myth: Other Driver’s Insurance Takes Over if They’re Driving
This is just not true. If you loan out your car to a driver with their own insurance, their insurance doesn’t necessarily take over if they get into an accident. This is because the car insurance that covers the car itself is often thought of as the “primary” coverage. So, you will still be on the hook and it could affect your insurance premiums. Be careful of who you loan your car to!
Car Insurance Myth: It’s Better to Buy From an Agent
Buying from an agent seems like a great thing to do and for many people it is the exact right decision. For others, it’s not quite the best thing to try and that’s OK. There are plenty of reputable online services that allow you to quickly get car insurance quotes and file claims without having to talk to anyone. Plus, many insurance agents typically work for only one company. You want to be able to get quotes from as many companies as possible so you can find an insurance plan with the best price.
Now that you know the most common car insurance myths, you can do your best to find the best car insurance for you.