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Top 10 Misunderstood Things About Car Insurance

After spending many years in the planning industry we have come up with a top 10 list of most misunderstood things about the auto insurance plan.  These auto insurance plan myths are some of the most common questions that most people have about immediate auto insurance plan either buying or reviewing their auto insurance plan.  It's better to find out now before you have an insurance declare and it's too late.

I just got my 1st speeding solution my insurance plan costs are going to go way up.
Reality:  If this is your first solution your prices probably won't even change.  Most immediate auto insurance plan providers will give you a pass if you don't have any other tickets or claims in the past 3 to 5 years depending on the organization.

That new Plasma TV I bought last year won't affect my Car Insurance
Reality:  If you did not pay the charge card you charged it on then it just might.  Almost all insurance plan providers now use some form of credit score rating when determining not only if you will qualify for an insurance plan, but also what you will pay.  There can easily be 50% difference in prices for a person with excellent credit score to someone with a poor credit score score score.

I just slammed my car door into my lawnmower parked in my garage, my homeowner's plan covers it
Reality:  Your homeowner's protection has nothing to do with covering your car.  The only way your car will be protected is if you have Comprehensive (Comp) protection for your car.  And then only after you pay your insurance deductible.

I just cracked up my buddies car and I tell him don't worry my insurance plan covers it
Reality: It will but only after your buddies plan pays first.  So let's say your buddy has a $500 collision insurance deductible and you have a $250 insurance deductible.  You would have to give your buddy the $500 for his insurance deductible as his insurance plan provider is Primary.  Meaning your insurance plan will only pay after his plan limits are exhausted.  So just remember in this scenario your insurance deductible does not matter its going to be based on your buddies.

 If you're driving your bicycle and get hit by a car your auto insurance plan won't get involved
Reality:  If you get hurt or killed while driving your bike or even walking down the street you may be surprised to learn that you may be insured by your immediate auto insurance plan.  If the person driving the car was missing any insurance plan or not enough insurance plan to protect your injuries, your Uninsured or Underinsured protection would pay for your declare. 

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