Everyone who owns or leases a car is basically in need of automobile insurance. The market for this product is huge and the options are basically endless. You can pretty much have as much or as little coverage as you need based upon your situation. Both the car you have and your financial situation are key factors into determine what insurance you may want. However many factors are also taken into consideration when insurance companies determine your coverage costs. So it is best to be sure to shop around when getting auto insurance quotes. Please take the following myths about car insurance into account when choosing your policy.
Your Credit is not a factor
As previously explained, there are many factors that are considered when pricing out your policy. A lot of people think that your credit does not affect you when it comes to auto insurance, but it does. Your credit reflects how you handle your finances so if you have good credit chances are you are responsible and will a.) be able to get a car and b.) get a better quote on your car insurance.
Bright Colored Cars Cost you
There is a myth out there that if you have a bright colored car that your auto insurance premium will be higher. The reasoning behind this is that the bright color will catch the eye of cops and they in turn will pull you over. This is simply a myth. Color is not factored into the cost of your coverage but the type of car (model, year, make, engine size, vehicle age, etc.) does.
Your insurance goes up when you are older
This is not necessarily true. You can get discounts for certain things like being retired and therefore driving less or having complete driving safety courses through programs like AARP. Most people think that the older you are, the worse of a driver you are. This does not necessarily ring true in the eyes of insurance companies.
Your Auto Insurance will cover you if your car is stolen/vandalized
When you sign up for coverage for your car there are different coverage options that you need to select. If you didn’t select Comprehensive and Collision coverage than you may be out of luck if you find yourself in this type of situation. You need to elect both of these coverages in order to be fully covered for any type of damage.
Please keep all of these in mind when shopping for car insurance quotes. They will help you select what is right for you and your family.