Motor vehicle insurance is a requirement in most states, but it can be confusing to understand the different types of coverage and what each policy covers. There are a lot of myths about car insurance floating around, so we’re debunking three of the most common ones in this post. Keep reading to get the facts and make sure you’re fully protected on the road.
1. You don’t need insurance if you’re a good driver
Just because you’re a good driver doesn’t mean you don’t need insurance. In fact, even the best drivers can get in accidents. And accidents can happen to anyone, no matter how good of a driver they are. That’s why it’s important to have insurance, even if you’re a good driver.
2. Your insurance will cover any damages to your car
Many drivers assume that their car insurance will cover any damages that occur to their car, whether it’s a fender bender or a total loss. However, this is not always the case. In fact, most car insurance policies only cover damages that occur as a result of a collision. If you are involved in an accident, and your car is damaged, your insurer will likely cover the costs of repairing or replacing your vehicle. However, if your car is damaged outside of an accident (e.g. by fire or vandalism), your insurer will likely not be responsible for repairing or replacing the vehicle.
3. Your insurance rates will go down as you get older
As you get older, your rates will generally go up. This is because both your car and your driving record become more expensive to insure as you age. Contrary to popular belief, insurance companies don’t take into account how safe of a driver you are when setting your rates. So, unfortunately, there’s no way to predict whether or not your rates will decrease as you get older.
4. You don’t need insurance if you have a low-risk car
You might think that if you drive a sensible car, you don’t need to bother with insurance. But that’s not always the case. In fact, many people find that they need to buy insurance even if they have a low-risk vehicle. The reason for this is simple: accidents can happen to anyone, no matter how careful they are. And if you’re involved in an accident and don’t have insurance, you could end up paying out of pocket for damages that could run into thousands of dollars. Protect yourself and your wallet by getting motor vehicle insurance today.
5. You don’t need insurance if you can’t afford it
While it’s definitely important to have motor vehicle insurance, it’s also crucial that you don’t let the cost keep you from getting coverage. There are many ways to make motor vehicle insurance more affordable, and you may be surprised at how much you can save by shopping around. Talk to an insurance agent about your options and see what suits your needs and budget. You may be able to get a policy that fits your budget without sacrificing coverage.
Contrary to popular belief, there are many myths about motor vehicle insurance. These myths can lead people to make poor choices about their insurance, such as not purchasing insurance at all.