Debunking Common Myths About Auto Insurance

In 49 out of the 50 states in America, all drivers must have active auto insurance. Choosing the right auto insurance policy is imperative for all drivers, after all, they act as protection for ourselves and other users when we are behind the wheel. With the number of auto insurance policies available in the market, it is natural for people to be confused and even come up with myths about auto insurance. Read on to find out what are these common myths surrounding auto insurance and whether they hold.


Red Cars Result in Higher Insurance Rates

The myth that red cars warrant higher insurance rates is one of the most popular myths about auto insurance, and something that is almost always asked by drivers intending to purchase red cars. Fortunately, the straight answer to that is no. While it is true that there are factors of vehicles that can result in higher insurance rates, color is not one of them. Instead, variables such as car make and model, age, years of driving experience, and others that may affect damages are the ones that can result in higher insurance rates. In most cases, car insurance companies will not even require you to indicate the color of your vehicle when you sign up for an auto insurance policy.

Minimum Insurance Is Sufficient

Another common myth is that minimum insurance is sufficient, any more than that and you are being cheated by insurance companies. While the minimum insurance is the minimum requirement set by states, it doesn’t mean that that’s all the insurance you need. 

There are good reasons why liability and comprehensive insurance policies are popular. It is because they act as a good form of protection in the event of accidents. Imagine a situation where you become at fault for a collision with luxury cars, all while having minimum insurance coverage. In such a scenario, you will be expected to pay for all the other party’s vehicle repairs, which can amount to tens of thousands of dollars, well enough to cover years of comprehensive auto insurance. Regardless of how safe of a driver you might ought yourself to be, it is sometimes better to be safe than sorry.

If you have been looking for comprehensive auto insurance policies tailored to your needs, then we highly recommend that you consider K&N Insurance Brokerage. At K&N Insurance Brokerage, our car insurance specialists will help recommend you the best coverage to suit your needs after filtering into account your age, driving history, and more. Get a quote from us today in a matter of minutes!

A Friend that Borrows Your Car Becomes Financially Responsible for the Accident

The insurance is tied to the vehicle, not the driver. If you loan your vehicle to friends and they get into an accident, you will still ultimately be the one liable to pay for any damages that occurred. Of course, a good friend will reimburse you for their pockets but you might want to think twice the next time someone requests to borrow your car for a joyride.