TOP 10 MISUNDERSTOOD THINGS ABOUT CAR INSURANCE

Views:
 
     
 

Presentation Description

Car insurance is not as easy to understand as it seems. Most people have been misinformed about car insurance and the use of policy in various events. Car insurance myths are also more spread out over the country because of the lack of information acquired by users from their agent. We will try to clarify ten myths and misunderstandings about car insurance.

Comments

Presentation Transcript

TOP 10 MISUNDERSTOOD THINGS ABOUT CAR INSURANCE :

TOP 10 MISUNDERSTOOD THINGS ABOUT CAR INSURANCE By http://www.InsureHeaven.com

1. Racking up your friends car might not be covered by your policy :

1. Racking up your friends car might not be covered by your policy Your insurance company won’t pay up until your friend’s policy covers the damage as well. It will only pay once your friend’s deductibles are exhausted completely. Once that is done, then your policy will kick in.

2. Got your first speeding ticket? Your insurance will… :

2. Got your first speeding ticket? Your insurance will… The thing we all need to understand about insurance is the fact that it depends on a number of factors and fluctuations in your policy will only occur if something major changes in your profile. Getting your first speeding ticket is NOT one of those things. Chances are your rates will remain the same.

3. Got robbed of your things in the car? Tough luck :

3. Got robbed of your things in the car? Tough luck Car insurances do not cover personal belongings that are present in the car. So if your purse, ipad , wallet or other belongings are stolen from the car, there is no point in claiming it with auto insurance. Other insurances might cover these kinds of thefts.

4. Not having car insurance might actually be an expense:

4. Not having car insurance might actually be an expense In the long run, not having car insurance might cost you more. Rates go up if you do not have car insurance for a period of time unless you provide a valid reason; not able to afford one is not one of these reasons.

5. Red cars rack up more insurance than other colors :

5. Red cars rack up more insurance than other colors Myth! This might be statistically true, but there is a bias in that statistical result as well. Red cars DO NOT have more insurance than other colors. Insurance is based on numerous things; color is not one of them. It depends on the make and model of the car and how old it is.

6. Sports cars owners pay more than conventional cars :

6. Sports cars owners pay more than conventional cars While this might have some truth behind it, there is an underlying reason as well. A sports car has a higher chance statistically of getting into an accident compared to a normal car. Therefore the premiums might be a tad higher. Even then they do not go as high up as some people would believe them to go.

7. Cheaper car = Cheaper insurance :

7. Cheaper car = Cheaper insurance Not true. Cheaper cars may not lower insurance rates. These rates depend on the cost required to fix a car in case of damage. So if you bought a cheap car which has expensive parts, the insurance is likely to cost higher than a newer car with cheaper after-market parts.

8. Got hit by a car while riding a bike?:

8. Got hit by a car while riding a bike? Turns out you are covered by your policy. It may also include the instance when you walking outside. Car insurances are not limited to cars or motor vehicles only. The person on the wheel is supposed to cover your costs but if that are not the case, your policy should be enough for that.

9. Relationship of credit score with car insurance :

9. Relationship of credit score with car insurance Insurance providers keep a closer look at your credit score than you might actually think. So before you go on a shopping spree with your credit card, keep in mind that it may cost you more than the bills in your wallet. Rates can fluctuate immensely due to credit score, depending on other factors as well.

10. My rented car is covered as well?:

10. My rented car is covered as well? Well turns out it is not. If you damage a car that you may have rented for any reason, your insurance will not cover the damage cost. Rental cars are not the responsibility of insurance companies and it is clearly stated in the policy.

For Car Insurance Visit: http://www.insureheaven.com:

For Car Insurance Visit: http://www.insureheaven.com