When it comes to car insurance, it can be hard to sift through all of the information available and know what’s true and what isn’t. Here are a few of the biggest myths out there when it comes to insuring your vehicle, as well as some truths to keep in mind.
Myth: If you have a red vehicle, it will cost more to insure.
Truth: The color of your car has no impact on the rate you will be charged for insurance, whether it’s red, white, yellow or beige. However, there are a number of other features on your vehicle that will be taken into consideration, such as the make and model, the age of the car, and even the size of the engine.
Myth: When it comes to calculating insurance costs, your insurance company looks at your car, driving history and your age.
Truth: While it’s true that insurers look at those factors, there’s actually more to it. In all but three states, including California, Hawaii and Massachusetts, your credit score will also impact your insurance rates. Insurance companies use credit scores to determine a potential customer’s future behavior and to see whether they pay their bills reliably.
Myth: Where you live within your state doesn’t affect your insurance.
Truth: Your county, city, town and even your neighborhood can have an impact on your car insurance rates. In a large city, drivers may pay more because of higher accident rates, while rates in rural areas can be affected by larger numbers of car-deer collisions. Your rate can vary a lot based on your address.
Myth: Your car insurance will cover any personal belongings that are damaged in a car accident or stolen from your car.
Truth: If your laptop is stolen from your vehicle or a porcelain vase breaks in your car in an accident, your car insurance won’t cover the damage. Your homeowner’s or renter’s insurance may cover your possessions (dependent on your policy), and your car insurance is what may cover vehicle, injuries or property damage caused by the accident.
Myth: If you’re happy with your rates, it’s not worthwhile to shop for car insurance every year.
Truth: Without checking to see what other companies can offer you, you could be missing out on better insurance coverage or better savings. At the very least, make sure to touch base with your insurance representative each year to make sure you’re properly covered and aren’t missing out on additional savings.
If you have more specific questions, contact the knowledgeable professionals at Long & Foster Insurance. We can help you get quotes from the nation’s top insurance providers while ensuring you get the level of protection you need at the best possible price.