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Top Ten Vehicle Insurance Myths That will turn into high-priced mistakes

cheap car insurance told me that I can use my automobile at my second job delivering pizzas and
that my insurance policy will cover an accident."Well, your friend is wrong. Unless you have
purchased a commercial auto policy your individual auto policy specifically excludes coverage
even though the covered automobile is used for commercial or company purposes.two.

"If an individual breaks into my auto and steals my laptop, my automobile insurance will pay for it
since I bought complete coverage insurance coverage."There is no such factor as Complete
Coverage, which means that anything is covered. Your auto insurance coverage policy is
extremely particular about the limits and coverage afforded, there is no insurance coverage policy
that will cover every thing.

So if your lap top rated is stolen from your car, a claim ought to be filed via your Renters insurance
or Homeowners insurance coverage policy and you will have to spend the deductible.3. "I got a
ticket and my insurance coverage premium will possibly triple!"Wrong. With a single ticket on your
driving record you will nevertheless qualify for the Excellent Driver discount, depending on what
type of ticket you have.

Nonetheless, insurance businesses also have internal point systems to configure the threat
developed by a ticket. 4. "The color of my auto is red and I heard that this will make my payment
higher!"The expense of your auto

insurance policy is based on your age, sex, zip code, driving history, coverage kind, make, model,
engine size, the car's safety record and the likelihood of it getting stolen.5. "My credit history has
nothing to do with my auto insurance coverage rate."Some insurance coverage firms take a
drivers' credit history into account when configuring the auto insurance quote. If you have a low
credit score, it is much more likely that you will quit

creating payments on your insurance. Nevertheless, as soon as your credit score is factored in,
most folks finish up with a lower rate6. "I only want the minimal coverage."Every single state has
set the needed minimal level of insurance coverage, right here in California it is $15,000 per
individual injured, a maximum of $30,000 per accident and $5,000 property damage liability.
These limits are extremely low. Emergency medical services are really pricey and $five,000 worth
of harm can be exhausted in a extremely minor fender bender amongst two reasonably new
vehicles. It is a serious mistake to retain these low coverage levels. You could face a serious

financial collapse if you locate oneself paying out for medical bills and property harm as a outcome
of becoming below-insured. Becoming below-insured could make you vulnerable if another driver
decides to sue following an accident.7. "Insurance coverage firms make up their prices and charge
whatever they want."Insurance coverage


companies are needed to describe how the rates are calculated and then the rates ought to be
filed for critique and for approval or rejection. Any increases or decreases ought to be filed by
means of the state of California department of Insurance for a critique and then the rate is
accepted or rejected.8. "My insurance coverage covers any car I drive."Some insurance coverage
polices, named broad coverage policies, transfer coverage to a vehicle that is produced obtainable
to you on an incidental basis. Each and every policy is distinct.

Some businesses only transfer the minimal state liability specifications although other individuals
are a true broad coverage policy that transfers your specific liability limits. Nonetheless, many
insurance policies are restricted policies or named-operator insurance coverage policies that only
cover the named drivers, everybody else is automatically excluded and coverage is not afforded.9.
"If my vehicle is stolen, my insurance coverage organization will pay off the loan."If you purchased
GAP Insurance when you purchased your car, this is true.

Even so, if you have complete insurance and your automobile is stolen or totaled in an accident,
the insurance organization will establish the fair market place value of your pre-accident car and
spend you the actual cash value. This estimation excludes finance charges, interest rates,
licensing charges, taxes and other charges you could have accrued all through the lifetime of your
loan.10. "My insurance firm will pay for my car rental."Your insurance organization will not pay for
your vehicle rental unless you have bought car rental expense. This coverage is generally sold
only in conjunction with extensive and collision coverage.

It is essential to read and cheap car insurance realize your insurance policy. It is also crucial to
ask questions and address your concerns to your agent.