The Truth About Car Insurance: Fact vs. Fiction

People put a lot of thought into buying a car. But when it comes to getting car insurance they’re hardly mindful of critical factors. The ignorance about auto insurance has been so widespread, that people have developed many false notions. 

If you’re doing research for your car insurance, you should know the facts from fiction. Let’s bust the most popular myths about car insurance.

You’re Going to Pay More If You Have a Red Car

This stems from the belief that the person driving a red car must be reckless. Some people even assume that red cars are driven for speed. 

But that is not the case. A red car is like any other car. 

Insurance won’t bill you more because you have a red car. Now if you show that you have a habit of getting a lot of tickets.

You’re Going to Have Everything Covered With The Best Package

Let’s just get this out of the way. You are never going to get an insurance coverage plan that covers every single scenario out there. 

For example, you’re likely to have to add collision coverage, especially if you’re leasing a car. If you wind up hitting an animal or have a natural disaster, you’re going to be covered. But if you get something stolen from your car, you will be out of luck in terms of coverage.

If you want to get the best car insurance in Florida, you should consider a well-known company like Progressive.

If You Loan Your Car to Someone, Their Car Insurance Applies

You might think that if you hand your car keys to someone and they get into an accident, then they will pay with their insurance. No. Your insurance company would be the one assessing the claim. 

You could also get into somewhat big legal trouble if you gave them the keys and knew that they were impaired like they had several drinks, then you could be hit with negligence charges.

You’re Going To Pay More if You Get a New Car

Chances are good that you will pay less since many of these new cars and SUVs have a lot of built-in safety features. If you get an older vehicle, like a sports car, then you could pay more, since the insurance company could view it as being a less safe vehicle. They pay attention to the make and the model of the car to determine the insurance premium you will be paying each month.

You Will Be Fined If There Is a Brief Lapse in Car Insurance

Oops. You forgot to pay the premium before the due date. You’re sending in the check now. Better hope that nothing happens while the money gets accounted for your insurance premium. You could get in legal trouble for driving without insurance. Your car insurance could also be canceled. 

Be diligent. Keep on top of the payments and save yourself any heartburn in the future.

You Won’t Have Your Car Insurance Affected If You Are a Homeowner

This is one patently untrue statement. Although it’s true that a majority of insurers offer discounts if you own a house. But you want to make sure that you have the best insurance too. If you get sued for a car accident and your insurance coverage isn’t enough to settle the claims, you could have assets like your home seized.

Those are just some of the ideas about car insurance that are myths. A couple of other ones include your credit score not impacting your insurance (it does) and there being specific months that are best to get insurance (false). The basic rule of thumb here is to get the best car insurance that you can afford and get it immediately.