Car insurance can save you from paying hefty fines and damages out of pocket but there are a number of misconceptions about it as well. Here are a few myths about car insurance debunked:
Myth 1 – The color of the car determines the cost of the insurance
There is no data to back up the fact that owners of red cars drive fast so it doesn’t matter what color your vehicle is. Insurers are not concerned about that and neither are traffic police. They look at the behavior of the driver, not the appearance of the car since they profile the former, not the latter.
However, insurance companies do care about the type of vehicle you drive and this includes its sticker price, make, model, the size of the engine and the year it was made. They might also consider whether it is attractive to thieves and if it is costly to repair and what kind of safety record it has.
Myth 2 – Credit scores don’t matter
This used to be a myth but unfortunately it is very true now. Credit scores are now being used more and more by insurance companies and the auto insurance industry in particular to determine risky insurance owners. According to a new legislation, the insurance rates are based on these scores. So if you declare bankruptcy you not only get a higher interest rate on loans, but you also get extremely expensive insurance rates as well.
An insurance agent is the best person to help you in this regard and when it comes to distinguishing myth from fact. Some companies have online portals you can use to ask your questions.
Myth 3 – Personal property inside the car is insured
That is not the case. Your auto car insurance only covers your car and nothing inside it so if your precious guitar is damaged in a car crash, you’re out of luck. Similarly, if a fur coat or a laptop was stolen from your car, the insurance company is not going to pay for them.
You can file a claim through the homeowner or tenant’s policy but not through your insurance company.
Myth 4 – Older drivers pay more
Life insurance might increase with age but not auto insurance as such. In fact, often the opposite is the case. Many drivers who are over 55 years of age can also get those rates reduced and by up to 10% for 3 years if they are lucky. This can be the case if they complete an accident prevention course successfully.
Insurance companies hold clients who take these courses in high regard since they keep drivers sharp and safe on the road.
Car insurance help | Attorney Javier Marcos
These were just some of the myths that are related to car insurance in general. If you have been in a car accident and are unable to get insurance, Attorney Javier Marcos can argue your case in court with you and ensure your insurance company pays. Just give us a call for a consultation today. Do not call the car insurance company, call Attorney Javier Marcos and he will speak with them. 713.999.4444.