7 Myths about Car Insurance that Should Never Influence Your Purchase

Hand with car against blue sky backgroundHow often do you make decisions based on hearsay? Undoubtedly, not too many people conduct an in-depth research before making a purchase. They just analyze different offers and settle for the one that displays the most convenient price-quality relationship. Quite often, they are influenced by neighbors, friends or family members who always seem eager to provide more or less useful pieces of advice. The truth is that only a few people know everything about cars and even fewer have a solid car insurance background.

Therefore, if you want to avoid dissatisfying transactions and get your hands on the most attractive type of coverage, you should manage to identify and ignore some of the most common car insurance myths that could guide you in the wrong direction, towards a policy representing a mere waste of time and money.

First Myth: Insurers Can Cancel My Car Insurance Policy at Any Given Point in Time

This is a common myth that often intimidates most drivers who are interested in purchasing auto insurance. Insurance companies are allowed to cancel their clients’ policies only in extraordinary sets of circumstances, like for instance when premiums are no longer paid or when a fraud is reported. Other than that, insurers can’t and won’t arbitrarily cancel their customers’ coverage, so as long as you play by the book you have nothing to worry about.

Second Myth: Personal Belongings That Are Kept in My Car Are Covered

If you are one of those people who always forget their valuable belongings inside the car (cellphones, laptops, jewelry, fur coats, golf clubs and so on), we’ve got bad news for you: they are not covered by your car insurance policy. In other words, if your personal property deposited in the vehicle were to be stolen or damaged, your insurer would not cover your losses. In this particular situation, you could try to file a claim via your tenants’ or homeowners’ insurance policy. The main idea is that car insurance won’t get you out of this kind of trouble.

Third Myth: People Who Borrow My Car Are Responsible for Potential Damages

Do you have any idea how many people are deceived by this incredibly common myth? You should always think twice before lending your car to someone for a very good reason: if that person were to drive your car and get involved in an accident, you would be responsible for all the property damage and injuries triggered by his/her crash. You would have to file a claim and the incident could impact your history and lead to higher premiums. It may not make much sense to most first-time buyers, but this is how it goes: insurance companies follow the vehicle, not the person behind the wheel. Keep this in mind before allowing friends or family members to drive your automobile.

Fourth Myth: Rental Car Expenses Are Automatically Covered by My Policy

You check out free car insurance quotes online, find the best deals, call your insurer and pay for the best policy. Does this mean that rental car expenses are automatically covered by your policy? Absolutely not! Rental car reimbursement coverage is a very useful extra that is worth every single cent. It only costs approximately 2 dollars per month, so this is the type of addition that won’t burn holes in your pockets. It comes in handy if your car gets stolen or severely damaged.

Fifth Myth: My Car Insurance Policy Keeps all Risks at Bay

There’s one thing that you should know about car insurance: there is no such thing as a one-size-fits-all version. Drivers are able to add different extras and customize their policies as they see fit, based on their very own needs, concerns and financial possibilities. You should also know that comprehensive and collision coverage represent excellent preventive measures, but they are optional (unless you are financing or leasing your car). These additional types of coverage ensure a much-needed protection against a wide range of risk factors, including natural and man-made disasters. Therefore, it you are worried that hail, fires, floods, winds, burglary attempts or acts of vandalism could have a major impact on your car, it may be a good idea to spend your money on collision and comprehensive coverage.

Sixth Myth: My Old Vehicle Could Never Be Considered a Great Target by Thieves

Again, you are very wrong. A report issued by the National Insurance Crime Bureau in 2007 clearly indicates the fact that thieves have a thing for older cars, not because they are fervent collectors but because older models incorporating less sophisticated mechanisms are easier to steal. 1989 Toyota Camry and 1995 Honda Civic are on the list of the most stolen vehicles in the U.S. Therefore, don’t hesitate to buy the right coverage, as thieves are definitely not as picky as you may be inclined to think, when it comes to selecting their targets.

Seventh Myth: All Providers Will Make the Same Offer, So There’s No Point in Shopping Around

This is perhaps one of the most dangerous car insurance myths that could influence your purchase and impact your budget. The truth is that the insurance sector is very competitive; insurers strive to attract new customers and keep the old ones on their side, so they do not hesitate to come up with extremely attractive deals and special rates (that vary from one carrier to another). Shop around and see what different insurance companies may have in store for you.

This is the key to unlocking great discounts. Worried that you may waste a lot of time trying to spot the most alluring offers displaying the highest number of benefits and the tiniest price tag? If so, you should know that there is a much more convenient option at hand. Now you can rely on Insurance Quote Depot to check out free car insurance quotes with a few clicks. This is the best way to compare rates online and get your fair share of accurate, regularly updated information before scheduling a meeting with an insurer.

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