Debunking Common Auto Insurance Myths
The auto insurance industry can be confusing, and a lot of misinformation gets passed around. Not only can this make it difficult to understand your insurance coverage, but it can also end up costing you money.
These are five of the biggest myths and misconceptions held by Las Vegas, Nevada drivers.
Myth #1: State Minimum Coverage Is Enough
In most cases, state minimum coverage isn’t nearly enough to cover the damages that could result from a serious accident.
Read More: Changes to Nevada’s Auto Insurance Minimum Coverage Requirements
Myth #2: Your Credit Score Doesn’t Affect Your Rate
Your auto insurance provider weighs numerous factors, including your credit score, to assess your driving risk and to calculate your premium. Your insurance quote will most likely do a “soft check” of your credit score which won’t affect your credit. But it is enough information for the insurance company to add to their list of items to look at while determining your auto rate and risk factor.
Read More: Why Did My Auto Insurance Company Check My Credit?
Myth #3: Older Drivers Are Charged Higher Premiums
Because of the discounts that are available to experienced drivers, mature drivers often pay less for their coverage. However, as we do get older and older, premiums can potentially rise.
Myth #4: Driving for a Rideshare Company
Your Personal Insurance Policy Is Enough
If your vehicle is used for commercial purposes, your personal insurance policy may not cover an accident that happens while you’re on the clock. Some Rideshare companies do offer coverage for their drivers. It is SO IMPORTANT to confirm what coverage, if any, they offer. Ask about when the coverage starts and stops during your on-the-clock time. You may need “Rideshare” coverage for your personal policy. Call your auto agent and your Rideshare company to verify what you need, what you have.
Read More: How Much Auto Insurance Coverage Do You Need?
Myth #5: The Color of Your Car Affects Your Premium
Your vehicle’s make, model, year and options affect your premium, along with many other factors; its color does not affect your premium.
Understanding Your Auto Insurance Policy with Nevada Insurance Enrollment
Don’t let these common misconceptions about auto insurance keep you from getting the best coverage for your lifestyle. At Nevada Insurance Enrollment, our auto insurance agents are here to help you understand your policy and purchase auto insurance with confidence.
Recent Posts
What Determines My Health Insurance Premium?
Your health insurance premium amount isn’t random. A variety of factors affect how much you’ll pay every month for your coverage. Under the ACA, there are only a handful of things that can affect your health insurance premium.
How Getting Married Affects Your Health Insurance
Getting married means lots of conversations about combining everything from last names to bank accounts. While picking a health insurance plan that covers both of you may seem practical, there are cases in which maintaining separate policies makes more sense.
How to Save Money on Prescriptions
If you are among the 55 percent of Americans that are taking a prescription drug, you may be concerned about the affordability of medication therapy. Fortunately, there are a couple of things that you can do to ease the financial burden.