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Since insurance rates vary from person to person, there are a lot of misconceptions doing the rounds. These issues baffle most people, especially those new to car insurance. It [url=http://www.tagverts.com/barbour.php]barbour online shop[/url] is better to dispel those myths now, before you have a claim, than to end up disappointed later.
Here is a list of the most popular car insurance myths and accompanying facts.
Myth - If I total my car before it is completely paid off, my car insurance company will pay the balance amount to my creditor
Fact- This is probably one of the most popular car insurance myths doing the rounds. Whenever a car is totaled, [url=http://www.hi-ho.ne.jp/cgi-bin/user/toyoura/joyful.cgi]barbour pas cher soldes Excit[/url] the car insurance company only pays you the blue book value of that car, which factors in depreciation and the market value of the car at that point. Unless you have specifically bought gap insurance, you will have to pay your creditor out of your own pocket for any balance payments you owe.
Myth - Red and yellow cars have the highest car insurance rates
Fact - Car insurance companies fix rates on each model based on the risk factor; they take into account facts like the engine size, body type, make, model, and age of the car. Insurance companies never ask you the color of your car. However high end luxury cars are more expensive to insure as statistics prove they are costlier to repair/ replace.
Myth - When I buy minimum State-mandated [url=http://www.riad-marrakesh.fr]abercrombie pas cher[/url] car insurance, I am automatically covered for any [url=http://www.jeremyparendt.com/Barbour-Paris.php]barbour pas cher soldes[/url] damage to my car
Fact-If you are just buying liability coverage, it will do nothing for any damage to your car. Liability coverage is to compensate others for damages done because of your car. To cover damages to your car during a collision, you need collision coverage; for protection against losses due to [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] theft, hail, riots and fire, you need to buy comprehensive coverage.
Myth - Thieves are more likely to steal new cars
Fact- Thieves are equally likely to steal older cars for the used car parts which are easier to sell, more difficult to trace once disassembled, and make them money much faster. So unless your car is a complete beater which you can easily afford to replace, it is advisable to keep a comprehensive coverage on your car insurance policy.
Myth - If the other driver is uninsured, my car insurance company will step in to compensate me in the event of an accident
Fact-If you do not carry Uninsured motorist coverage on your car insurance policy, you car insurance [url=http://zoro.sub.jp/fantasy/fantasy.cgi]louboutin SOHO Bedding; A Mur[/url] company cannot [url=http://www.diecastlinks.co.uk]hollister outlet[/url] help you when the at-fault driver has no insurance; you are pretty much on your own. So it makes sense to invest [url=http://www.teatrodeoro.com/hollisterde.php]hollister[/url] in Uninsured motorist coverage. In fact some states in the US have made it compulsory to buy one. Illinois car insurance laws, for example, require you to buy Uninsured Motorist Bodily Injury coverage for $20000 per person, and $40000 per accident.
Myth - Someone broke into my car and stole my laptop, cell phone, and other valuables kept inside it. My car insurance will compensate me for [url=http://www.shewyne.com/woolrichoutlet.html]woolrich outlet[/url] the loss
Fact- Your personal belongings inside your car are covered under your home insurance or renters insurance, and not your car insurance. So it's no use filing a claim with your car insurance company.
Myth - By opting for the lowest deductible, I wouldn't have to cough up a lot of money in the event of a claim so I'll be saving money
Fact - Another popular car insurance myth! You [url=http://www.par5club.com/louboutin.php]louboutin pas cher[/url] are actually losing money much faster by opting for a lower deductible. The higher the deductible, the lower are your car insurance rates. Some companies give you discounts as high as 40% on your car insurance rates, if you opt for the highest deductibles. By betting on an event that might or might not happen, you are losing money every month on your car insurance. You can save this money into an emergency fund for your car instead and stay prepared for an emergency.
Myth - The State sets the rates for car insurance so I don't need to shop around for good deals.
Fact - Each State sets requirements about the minimum coverage which is mandatory. Car insurance companies set their [url=http://www.davidhabchy.com]barbour sale[/url] own rates according to the coverages and benefits they offer; so it's a good idea to take multiple car insurance quotes to see where you can get the maximum benefits for the most affordable rates.
A word of caution however; before you decide to go with a car insurance company, make sure you learn more about its claim handling reputation and financial standing. You don't want to end up with a company that does not or cannot deal with your claim when you need it most.
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Car Insurance mythsArticle Summary: Check out the list of the most popular car insurance myths and accompanying facts. These issues baffle most people. It is better to dispel [url=http://www.riad-marrakesh.fr]abercrombie[/url] these myths before you have a claim, instead of ending up disappointed later.