Myths about Car Insurance

At some point, every driver is going to need to acquire Auto Insurance. Searching for the best Auto Insurance can be intimidating for those who are familiar with how insurance works. Finding great Auto Insurance may not be as difficult as you can think. Below we dispel some myths about Car Insurance.

Dispelling Myths about Car Insurance

Myth

If you’re in an accident, not reporting will prevent your rates from increasing.

Truth

"This myth isn't entirely untrue. If you're in an accident but don't report it, your insurance provider won't be aware of it. However, this changes if the other driver involved reports the accident to their auto insurance provider. In such cases, their insurer will then get in touch with yours and file a report about the accident. Additionally, if you receive a ticket as a result of the accident, it will be recorded on your driving record and may lead to an increase in your insurance rates."

Myth

Premiums increase as you age.

Truth

Actually, the opposite of this myth is true. As you get older, your rates will decrease so long as you maintain a great driving record. There are even some Auto Insurance discounts for drivers over 55.

Myth

Small cars are cheaper.

Truth

Though the size of the car can determine premium rates, smaller doesn’t necessarily mean that your policy will be cheaper. Smaller cars can experience more damage and the drivers in them are more likely to receive serious injuries. Mid-sized SUVs are the cheapest to insure.

Myth

Thieves target newer cars more often.

Truth

Older cars are more vulnerable because they have fewer security measures than newer cars. This makes them easier to break into. They are also more likely to be stolen for parts.

Myth

One speeding ticket will increase your rates.

Truth

Usually it takes two speeding tickets to increase your rates. If you get one ticket, you’ll have the opportunity to go to traffic school and avoid getting marks on your policy.

Myth

Minimum liability coverage is enough to keep me protected.

Truth

Most states have a minimum Auto Insurance requirement, but this may not be enough to cover all of the costs. If your insurance does not cover the full amount of the damages you’ve caused, your assets and personal finances may be subject to charges.

Myth

Comprehensive coverage protects you in all situations.

Truth

Comprehensive coverage is only one type of protection. It is meant to cover your vehicle for damages not related to collisions, including fire, theft, vandalism, weather, and collisions with animals. If you want coverage for collisions with other vehicles, you will need to add collision coverage to your policy.

Nationwide Auto Coverage

Don’t let these common myths about car insurance be a threat when looking for Auto Insurance. If you need Nationwide Auto Insurance or feel that you are paying too much, give us a call at 1-800-771-7758. We can help you find affordable rates on policies from Nationwide Insurance. You can get started by requesting a Nationwide Auto Insurance quote for free!

Need more than Nationwide Auto Insurance?

Do you own a home? Nationwide Insurance offers affordable ways for you to get multiple types of insurance. With Nationwide Bundled Insurance, you can cover your motorcycle, home, vehicles, boats, and more all on one policy. If you are interested in Nationwide Bundled Insurance, contact us now at 1-800-772-7758 or go online and request a rapid Nationwide Bundled Insurance quote for free!