Did you hear the one about the color of your car affecting your insurance premiums? No? That’s a good thing because it’s a total myth.
And you may think when it comes to auto insurance in Raleigh NC, drivers don’t have the same needs as New York drivers.
But with car owners spending an average of $866.31 per year on auto insurance, it’s important to recognize – and trash – these myths.
Read on to discover 5 other common auto insurance myths that you can safely ignore.
1) Your insurance rates will automatically stay high if you have an accident
This is a common myth among drivers. They think any accidents or tickets will affect their insurance rates forever.
But you won’t be penalized for the rest of your driving life. Accidents or tickets will only stay on your record for three years.
After that, you can access better rates.
2) Your insurance covers all accidents
Don’t take your auto insurance for granted that it’ll cover everything. Your policy will only cover comprehensive and collision coverage. Comprehensive and collision cover your vehicle in the event that you’re at fault in an accident or your vehicle is stolen.
Liability only covers the other party when you are at fault in an accident. Your damaged vehicle will not be covered if you do not have the proper coverage. If your vehicle is stolen, the coverage that this falls under would be under the comprehensive coverage.
This is one of those cases where it’s best to read the small print. Or at least get your insurance agent to walk you through your policy so you know exactly what it covers.
Read our guide to make sure you have the right auto insurance coverage.
3) No-fault insurance means no one is at fault in an accident
Just because you have no-fault auto insurance doesn’t mean that every party involved in an accident is blameless.
These policies just mean the insurance companies of each involved party pay out. Not just the company behind the at-fault party.
These policies do result in faster payouts because time and resources don’t have to be spent figuring out who was wrong.
4) If you lend someone your car, the other driver needs their own insurance
Not so. Your auto insurance policy and car come as a package. So if the other driver is involved in an accident in your car, your policy covers the damage.
That’s great news for the driver. But it’s not great for you – especially if you had no prior claims on your policy.
5) You don’t need to notify your insurance company if you move.
This is absolutely wrong. If you live in North Carolina and need auto insurance in Raleigh NC, then make sure you’re covered.
But if you then move to New Orleans LA you need to inform your insurer as rates can vary. In this example, your rates would rise, since Louisiana is one of the top 10 states with the highest insurance rates.
If you don’t inform your insurer and you have an accident, they can refuse your claim.
So if you’re looking for auto insurance in Raleigh NC this is a great area to get started.
Why not check out Amistad Insurance Services? We have over 20 years of experience in the insurance needs of Raleigh.
We also offer 24-hour customer service via our phone line so if you want to find out which policy best suits your needs, give us a call or drop by the office.