TOP 5 Auto Insurance Myths Cleared Up By a Pro
We sat down with our friend Derek Gromko, State Farm Insurance Agent from Cheshire, to clear up some Car Insurance Myths. We hope his answers will help you. If you have any specific questions pertaining to your vehicle or if you would like Derek to review your current insurance policy. Please contact him at 203-238-2006 or by email.
Red cars are more expensive to insure.
The good news is that the idea of the color of your car increasing your insurance rate is a common, but ultimately false misconception. Red cars may be a hot ticket item, but they do not drive premium prices up as is widely believed. Car insurers are more interested in the make and model, year, body style, engine size when it comes to your rates.
My credit has no effect on how much I pay for car insurance.
Most car insurance companies use credit-based insurance scores to help determine risk. Credit-based insurance scores don't factor in your job, income history, gender, or any other personal information. Car insurance companies use them to help determine the likelihood of an insurance claim in the future.
My friend borrowed my car, so he's responsible if there's an accident.
Car insurance follows the car, not the driver. So you are ultimately responsible for an accident and any damages that occur while your friend is driving your car.
Personal property stolen from inside my car is covered.
Sorry. If your expensive golf clubs get ruined when your car is rear-ended, you're out of luck. Likewise, if expensive items like a laptop or fur coat are damaged or stolen from your car in the course of an incident, you may file a claim through your homeowner's (or tenant's) policy but not through your car insurance.
Cheaper cars cost less to insure.
If your cheaper car has a large engine, weighs a lot or is an unusual model, it might cost more to insure than a more expensive small car. However, if you have a cheaper car, you will pay less for Comprehensive coverage, which covers damage caused by vandalism, hail, fire or animal accidents.
Visit Derek Gromko's website for more information: www.derekgromko.com