When it comes to car insurance, what you don’t know can hurt you. Many people cling to car insurance myths that leave them uninformed when it comes time to purchase coverage or make a claim. Friends, family and co-workers can be great resources for finding a reliable car, but the same isn’t true when it comes to spreading these car insurance myths.
“No-Fault Insurance Means an Accident Isn’t My Fault, and I Don’t Have to Pay”
Maryland is a state with no-fault car insurance, which means that you must purchase a no-fault policy. These policies mean that your insurance company will pay your medical expenses and lost wages due to an accident regardless of whose fault the accident was. However, that does not mean you cannot be held liable for the accident if you are the cause. Insurance companies will decide whose fault the wreck was and hold that party responsible for paying for property damage and any repairs. No-fault insurance merely means that your insurance company is required to pay for a portion of your medical expenses if you are injured.
“The Color of My Car Affects My Insurance Rate”
This car insurance myth is one of the sillier ones on the list. In reality, insurance companies change rates based on cost of repair or replacement, safety features of a vehicle and the driver. Certain makes and models generate more frequent claims, which is factored into the premium you are offered.
“Someone Else Was Driving, So They Are Responsible for Damages”
If you grant someone else permission to drive your car and they get into an accident, your insurance policy will be responsible for covering all damages. In most cases with personal automobile insurance policies, the insurance follows the car and not the driver. Remember this whenever you consider lending your vehicle to a friend or family member!
“I Got a Ticket, So My Rates Will Go Up”
Tickets do not mean that you will automatically see a rate increase for your car insurance. In most cases, a minor ticket on an otherwise-spotless record won’t have a consequence on your premium at all. If you have an accident forgiveness policy and get into a minor fender bender, it’s also possible that your rates won’t be increased.
Maven Motors Bust Car Buying and Car Insurance Myths
Maven Motors is dedicated to helping every customer find the car of their dreams, and keep the cars that they have in great shape. From auto sales to collision repair, we can meet all of your car buying and maintenance needs. We pride ourselves on honesty and integrity and always doing what is right for you. To learn more about our services, contact us today by calling (410) 358-1114 or visit us online.