4 Car Insurance Myths And Why They Are All Untrue
While there is a lot of reliable information about car insurance out there, car insurance myths also circulate quite rampantly. In fact, you may have heard of a couple of myths here and then that may have given you a wrong idea of what car insurance is all about.
To help you identify and quickly understand why these myths are false, we want to debunk a couple of car insurance myths for you today:
Myth 1. Insurance Is Pricier For Red Vehicles
Many people have said that insurance is more pricey for owners of red vehicles. However, the fact is that there is no difference in the premiums that are charged for drivers of different coloured cars.
However, what matters most is the car’s make, model, and year, along with a few other factors like the vehicle’s claim history, its popularity amongst thieves, and the like. While the colour of their cars may vary, they will all be charged the same premiums as long as they do not violate the policy and as long as they have a clean record.
Myth 2. Car Insurance Is Not Necessary
Another prevalent car insurance myth is that you do not need to have it. Many people think that since they are new to the country and have not been driving very long, they do not need car insurance.
However, car insurance is important because it protects you from financial losses that you can incur in case of an accident. It is necessary to protect your own well-being and your vehicle.
Myth 3. Car Insurance Is The Same As Life Insurance
No, car insurance and life insurance are not the same. While both have the same goals, that is, to protect you, car insurance involves protecting you from financial losses that you can encounter as a result of a vehicular accident. On the other hand, life insurance aims to ensure that your dependents are financially secure when you go.
Car insurance can cover medical expenses, funeral expenses, loss of wages, and so on. On the other hand, life insurance can only offer an annuity for the person you want to be the beneficiary. It does not cover any financial loss that will result from an accident.
Myth 4. Car Insurance Is Only For Accident Coverage
You may think that the only purpose of car insurance is the coverage of medical expenses and your lost wages in case you get into an accident. However, there is more to it than that.
Car insurance can also cover theft and damage to your vehicle, which is why it is so important. While you do not want to incur these expenses, it will be worse if you do not have car insurance to cover you and your vehicle. Keep in mind that specific policies may cover only certain things, so you must talk to the insurance provider about exactly what you’re getting out of it.
These are just four car insurance myths that you might have heard. If you want to make sure that you do not fall victim to these myths, it is important that you get reliable information about car insurance and that you do your research properly.
That said, know your rights as a policyholder and be sure that you are getting the most out of your car insurance. Be sure that you are paying for only the things that you need, and be sure that you have adequate insurance coverage. If you follow these steps and you exercise your rights as a policyholder, you will be able to make sure that you are getting the most out of your insurance to protect you, your car, and your finances.
Saunders Insurance offers various policies to meet the insurance needs of Southern Albertans. If you need car insurance in Taber, get yours with us today!