Purchasing the proper auto insurance protection has always been an important decision and Shorewest Insurance is dedicated to exceptional service. But key coverage decisions can become complicated by recurring insurance myths, especially when repeated endlessly via the Internet. Here are four common myths about auto insurance to watch for:
- You need only the minimum amount of liability required by law. Minimums required by state law are just that: minimums. Your actual risk can vary by type of vehicle, driver age, your assets, type of accident, degree of your negligence, ages of victims, severity of alleged injuries, etc. Catastrophic accidents can lead to potential liability in the hundreds of thousands to millions of dollars.
- Cheapest cars are cheapest to insure. While the price of replacement, parts and repair labor are certainly affected by a vehicle’s original cost when new, numerous other factors can raise or lower the basic insurance premium for a given vehicle. Other factors insurers routinely consider include attractiveness to thieves, mileage driven, typical usage, types of people likely to drive the vehicle (e.g., family-friendly vehicles vs. sports cars), safety features, horsepower and customized/specialty features.
- Your auto insurance automatically covers damage to your vehicle, including theft, vandalism, flood, falling trees, etc. While protection for certain damage to your vehicle may be included in many auto policies, other coverages are optional. Talk to your agent about collision and other-than-collision (also known as comprehensive) coverages so you understand your options.
- Personal auto policies provide coverage for both personal and business use of your car. Although certain types of business usage may be included in your personal auto insurance, there are significant limitations and exclusions that may apply. If you plan any type of business usage of your personal car, be sure to discuss this in advance with your insurance representative.
Don’t risk making a major insurance decision based upon myths. Get the facts and proper protection from your Shorewest Insurance Agent. As part of the Shorewest families of companies, Shorewest Insurance Agents are dedicated to exceptional service throughout Wisconsin. Our independent agents work to find the carriers that match your particular needs, comparing rates to provide a custom, competitive package rather than a one-size-fits-all plan.
Contact Shorewest Insurance Associates at 262.797.6297 today!