subject: Car Insurance Myths Busted [print this page] Car Insurance Myths Busted
The field of auto insurance is definitely an unfamiliar area to many people. Many of us tend to lend out our ears and make conclusions pertaining to our insurance cover based on what other people say and recommend. If we are not careful and we fall for one of the numerous vehicle insurance misconceptions in existence, we could end up taking out the wrong insurance plan, paying much more for our insurance policies, or not being sufficiently taken care of.
Let's take a look at a few of the most typical auto insurance myths doing the rounds:
White, green or blue cars are cheaper to protect. There is undoubtedly a myth that red-colored autos can be more expensive to insure than for example white, green and blue cars. No one really has any kind of idea where this fantasy descends from. It could be because a whole lot of sports autos are red and drivers of such vehicles are sometimes seen as the daring, risk-taking type, however there is really not a way to verify this. Car insurance companies are really interested in the type of motor vehicle, the worth, age and even the engine size, but the colour of the motor vehicle is really irrelevant to them.
Older vehicles do not get stolen very often. The contrary is actually accurate! For starters, older cars are much easier to steal because they don't have as much safety "gizmos and gadgets". Subsequently, a great number of are hanging on to their cars for an extended stretch of time (a result of the struggling economic climate). Because of this there is a big market for spare parts for older vehicles and lots of these motors are purely thieved to be sold for parts and scrap metal.
If I have vehicle insurance coverage I am automatically covered against crashes, theft, hail and fire. Be extremely careful! Normally, you would need full comprehensive insurance cover to be protected for the above, but insurance coverage also varies from company to company. In a lot of instances you will merely be taken care of in case there is a car accident, and for that reason further insurance coverage needs to be acquired for theft and other damages or injuries.
My insurance provider will cover the cost associated with a rental vehicle if my vehicle is at the panel beaters. Not always! Never assume that the cost of a rental car is covered, even though you may have comprehensive insurance. Sometimes car hire compensation may be added to your coverage at an economical charge.In the event that my buddy has car insurance cover and is in an accident while borrowing my vehicle, his/her insurance coverage will fork out for my damages. Regrettably, your car, your problem! Your buddy will just be taken care of while driving his/her own vehicle. However, in the event that your insurance policy won't take care of the complete claim amount, your friend's insurance cover might be used as an excess on your claim. The unfortunate thing is that even if you weren't even in your vehicle or near the car at the time of the crash, the crash will probably reflect on your claim record and this can have an effect on your insurance policy negatively.
Car insurance coverage misconceptions are exactly what the name says: Misconceptions! Make sure that you get all the facts before commencing your insurance hunt.
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