Understanding the facts about auto insurance can help you from making a costly mistake. By distinguishing fact from fiction, you will get the most out of your policy and stay well protected in case of an accident.
Myth 1: Auto Insurance Rates Stay Low for Unreported Accidents
The biggest misstep many drivers make is to get into an accident and decide not to report the incident to their insurance companies. They are worried about their premiums increasing as a result of the fender bender. However, the other driver can at any time decide to file a claim against you as a result of the accident. Also, if a ticket was issued to you because of the accident, your insurance company may increase your rates.
Myth 2: Auto Insurance Policies Covers All Uses of My Vehicle
Under some policies, your insurer does not cover damages if the accident occurred while using the vehicle for business use. Your independent insurance agent can help steer you in the right direction when shopping for auto insurance. They will recommend a policy to keep you covered, no matter what.
Myth 3: My Credit Doesn’t Matter for Auto Insurance Rates
An auto insurance provider wants to make sure you’re able to handle your financial obligation by paying your premiums on time. A good credit score can reduce your rates while a poor credit score may end up costing you more for coverage.
Myth 4: Older Cars Cost Less to Insure
Although the value of a car is factored into auto insurance rates, unusual cars with heavier engines and increased tonnage could cost more to insure. Another myth to consider is that the color of the car does not affect premium rates.
Myth 5: Older Drivers Pay More for Auto Insurance
When you’re over the age of 55, you may actually qualify for discounted rates through a car insurance provider.
Contact one of the agents at Oliver Insurance to discuss available auto insurance policies within the Canby, OR area.
