What Are The Most Common Misconceptions In The Car Insurance Industry

LOS ANGELES, Mar. 26, 2019 /PRNewswire-PRWeb/ -- Carinsuranceshoppingsource.com has launched a new blog post that presents several common car insurance myths.

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Misconceptions are common in many industries and the auto insurance industry is one of them. Some of these misconceptions have an impact on how drivers buy their vehicles and their car insurance. Most of them are not true and there are spread by persons with little or no knowledge on how the car and car insurance industries work.
Some of the most common misconceptions about car insurance are the following:

    --  Drivers only need minimum liability coverage. The minimum liability
        coverage is enough to drive legally. But in many cases, the minimum
        coverage is not enough to cover the damage caused to other persons'
        property or to pay their medical expenses. After a policy is exhausted,
        drivers will have to pay with their own money for the rest of the repair
        costs and medical expenses.
    --  A single policy covers everything. This is not true. One, two or even
        three policies are not enough to fully protect a driver against all
        possible incidents. Full coverage protection usually consists of
        liability, collision, comprehensive, PIP and Underinsured motorist
        insurance plans. All these coverages combined will result in one
        expensive insurance policy. However, in some cases, drivers have no
        choice. For example, if the car is financed, then the lender will
        require the driver to carry full coverage.
    --  Deductibles are not that important. The truth is that deductibles are
        very important for drivers that know how to use them. The deductibles
        represent the amount of money a driver has to pay before his insurance
        plan kicks in. Selecting higher deductibles means that drivers will pay
        lower insurance rates. However, policyholders should ensure they have
        enough money to pay for the deductibles if they have to file a claim.
    --  Red car owners pay more. The insurance companies are not interested in
        the color of a vehicle. The car make and model does affect the insurance
        costs, but not the color.
    --  Adding a second senior driver will make car insurance more affordable.
        This is not always the case. While it's true that more mature drivers
        pay less on their insurance as a result of their driving experience,
        adding a senior driver that has recently made claims will increase the
        overall price of insurance, instead of lowering it.

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Carinsuranceshoppingsource.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

SOURCE Carinsuranceshoppingsource.com