Auto Insurance Mysteries Solved
December 28, 2015
Your auto insurance premium and policy may sometimes feel like a mystery. Maybe unexplainable rate changes have your inner Sherlock Holmes looking for clues. Perhaps the last time you checked, there were so many coverage variables even Sherlock himself wouldn’t be able to figure out what the end of the story should be. Your auto insurance premium and policy shouldn’t be mysterious. Here are some helpful leads to make you a successful auto insurance sleuth.
- Red Cars Cost More To Insure. Not True! Your Insurance Agent Won’t Need To Ask The Color Of Your Car Because There Is No Rating Factor Based On Color. That’s Because Although Your Bright Red Car Might Make You Feel Like A Race Car Driver, It’s Not The Color Of Your Car That Will Cause Accidents. Focus More On Driving Cautiously And Defensively To Keep Your Rates Down. Accidents And Tickets Will Certainly Cause Your Rates To Rise.
- Little Claims Won’t Raise My Rates. Not True! All Claims Can Count Against You In Developing Your Auto Insurance Rates, So Take A Moment To Think Before Filing Claims For Windshield Chips And Small Scratch Repairs. Pay Out Of Pocket For Damages That Are Near Your Deductible To Keep Your Long Term Rates Down.
- I’ve Got A Good Auto Insurance Policy So When I Rent A Car I Don’t Need To Take Their Insurance Options. Not True! Contact Your Agent Before Renting A Vehicle To Determine What, If Any, Coverages Might Protect You While Driving A Rented Vehicle. Common Blunders Such As Renting The Car In Your Business Name And Assuming Your Personal Auto Policy Will Cover It, Not Taking The Physical Damage Waiver Offered By The Rental Car Agency, As Well As Allowing Someone Else To Drive Your Rental Car Can All Add Up To Major Insurance Mistakes.
- The Dealership Said I Was Good To Go. Not True! The Large Majority Of Auto Salespeople Don’t Have Insurance Licenses, So Why Let Them Advise You On Whether Your New Purchase Is Covered Or Not Before You Drive Off The Lot? It’s True, Many Insurance Policies Grant “Automatic Coverage” To New Purchases. What If Your Current Vehicle Only Has Liability Coverages? What If You Wanted Replacement Coverage For That New Vehicle? What If You Needed Loan Or Lease Gap Coverage? Discussing The New Vehicle Purchase With Your Agent BEFORE You Drive Off The Lot Is The Smart Thing To Do. With So Many New Coverages Available, It Pays To Research Your Options.