Auto insurance is probably one of the most confusing purchases that you’ll ever make. Between looking at uninsured motorist coverage, comprehensive coverage, and the state’s requirements, it can be a whirlwind of information and decisions that you will need to make.
At Longevity Brokers, it’s our mission to ensure that you have the insurance plans that you need. We cover everything from your home to your car. We are pleased to protect the Denver, Colorado area with quality insurance protection at an affordable rate.
This article is going to look at some of the most common myths that we hear from our policyholders. Hopefully, this post will answer any questions that you have and eliminate some of the false ideas that you have about car insurance.
1. Older Drivers are going to pay more for car insurance
One myth that we hear a lot is that older drivers, especially seniors, are going to pay more every month for their auto insurance versus what a younger driver in their 30’s is going to pay. Unlike life insurance, which continues to get more expensive the older that you are, auto insurance tends to get cheaper the older that you are.
For every couple of years past the age of 55, you can get cheaper and cheaper auto insurance if you complete an accident prevention course. The insurance company wants to see a mature driver that has years of experience as a safe driver. More than likely, you can get a discount for being an older driver.
2. Red cars cost more to insure
This is probably one of the most common misconceptions that we’ve heard. It’s an idea that has been around for dozens and dozens of years. People think that red cars tend to be pulled over more often or that people who drive red cars are more likely to spend.
This is false. The color of your car is not going to be factored into how much you pay for your auto insurance policy. The company is going to look at the year, the make, and the model, but not the color. If you want a red car, don’t worry, you aren’t going to pay more every month for that vehicle.
3. Your car is covered if your drive it for work
More and more people are starting their businesses or being self-employed, which means that more and more people are beginning to drive their vehicle for business reasons. Let’s say that you drive your vehicle to deliver flowers or pizzas on the weekend. If you’re a paid employee, and you’re using your vehicle for work-related uses, your auto insurance policy is not going to cover your car if something were to happen.
If you wreck your car when you aren’t working, then your policy will cover the expenses, but if you’re working when it happens, you won’t get any coverage.
4. You just need to meet your state’s minimum requirements for auto insurance
When we talk to applicants, a lot of them are looking to get the minimal amount of coverage. Most people want to get the cheapest premium possible. It’s illegal not to have any auto insurance at all, but that doesn’t mean that you should only purchase the minimum amount of coverage. Having the bare minimum could leave you with some massive repairs costs depending on the circumstances.
5. Comprehensive insurance covers everything
Most people assume that if they purchase a comprehensive insurance policy, which their car is going to be covered, regardless of what happens. Sadly, it doesn’t work like that. There are still a lot of circumstances that won’t be covered with comprehensive coverage. If you want to get full coverage for your vehicle, then you will need to purchase a few add-on plans with your policy, like uninsured motorist coverage or rental reimbursement.
Auto Insurance and Longevity Brokers
We know that shopping for car insurance can be a confusing search. There are dozens of different coverage areas and types of plans that you will need to consider when you’re shopping for coverage. Every year, we get dozens and dozens of questions about different auto insurance factors, and that’s why we are here to help.
If you have any questions about your auto insurance, or you want to save money on your coverage, please contact us today. Unlike a traditional insurance agent, we are a group of independent insurance brokers. That means that we don’t work with on single company. Instead, we represent dozens of highly rated companies in the area.
Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the auto insurance that you need. While you might be an excellent driver, you never know about the other drivers.
Hopefully, this article has helped dispel some of those common myths that you might have believed. If you have any further questions about auto insurance, or you’re ready to start saving money, you can use our quote form on the site, or you can call us at (720) 209-4598. We would love to answer any questions that you have.