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Relating to auto insurance, it pays to become knowledgeable. Understanding how auto insurance works can help you save time, money in addition to hassle. From insurance coverage options in order to deductibles, discounts along with premiums, there's plenty to learn. There's also a huge amount of car insurance policy myths moving. Test your car insurance policy knowledge below by quizzing yourself within the top 10 car insurance policy myths. Auto Insurance cover Myth #1: My auto insurance will vary depending on the color of our car. FALSE. Although some individuals believe that your red car attracts additional attention, and therefore may cause more visitors tickets, the color of one's car offers nothing to do with determining your car insurance policy premium. Instead, your credit rating is a vey important factor helpful to determine your automobile insurance rates, followed by simply your automobile's year, make, model, body sort, engine size, age along with driving record. Auto Insurance policies Myth #2: I'm any male within 25. I'm in the highest insurance policies rate segment! FALSE. While it's true that will males under age 25 could pay more for automobile insurance than its female counterparts, it's important to remember that overall, teenagers and senior citizens generally spend higher rates general health are at an increased risk of accidents. Auto Insurance Myth #3: Sometimes My spouse and i use my car intended for business purposes. If I am in a major accident, my personal auto insurance austin tx will still cover myself. FALSE. If you're delivering pizzas part-time, occasionally carrying clients as well as driving to be able to meetings, you may need to extend your auto insurance coverage to add business work with. If an automobile accident occurs while for a business errand, your individual coverage still may not cover an individual. Auto Insurance policies Myth #4: Help! I have one racing ticket (and also accident). My auto insurance rates are going to hit your roof! FALSE. Sometimes this is true, but a large number of companies offer "first time period forgiveness" - this means your 1st ticket or accident will not affect your car insurance policy rates. It's rather more likely that you will need a couple of tickets in advance of your prices increase. However, your driving history, how rapid your were going and along time with all your auto insurance company can in addition affect if your rate increases. If you're cited in an automobile accident, it doesn't imply that the car insurance austin will increase. Auto insurance agencies generally conduct their very own investigations, and after that base their particular decisions about who was accountable for causing your crash. They may consider all the facts, not just simply who was cited for the accident. Auto Insurance cover Myth #5: My good friend borrowed our car and is at an automobile accident. I style worry since his automobile insurance will protect the harm. FALSE. Even if you aren't present, if your car is in an accident, you could possibly be responsible. Also, there is a superb chance that auto insurance rates could be affected. Auto Insurance Myth #6: My car or truck is totaled. My automobile insurance company will cover the fee to change it with a new one particular. FALSE. Read your own policy closely. If your car or truck is totaled, most types of auto insurance coverage will simply cover your "actual money value" of your car : not the replacement price tag. Then the idea becomes your responsibility to cover the distance between your settlement and the expense of purchasing a comparable car or truck. There are some car insurance policy companies that provide "Gap Coverage" to protect against that depreciation, but you'll need to request it. If you're leasing a car, Gap Insurance is particularly important. Due on the low book costs, chances tend to be what you can still owe on the vehicle will not be covered because of the settlement. Auto Insurance Myth #7: I've shifted, but Post already paid out my auto insurance premium.