5 Things You Thought You Knew About Car Insurance
Many people think they know a lot about how car insurance works. After one car accident, many think they understand the inner workings of these financial behemoths. But you cannot rely on the statements of friends or family when it comes to your financial situation. What you know about insurance and the claims process can make the difference between a paid claim and a denied one. Sometimes understanding insurance just makes fewer worries for you.
Whose Side is Your Insurance Company on Anyway?
It makes sense that your insurance company should be entirely on your side since you’re the one who pays the premium. The unfortunately truth is that every insurance company ultimately works in its own best interest. Your insurance company will pay you for your medical bills and wages from lost work, but you may need to be a strong advocate for yourself to make sure that you receive all of the compensation for which you are entitled.
Car Color and Insurance Rates
Many people think the color of their car will affect their insurance rates. People who drive red or black cars, for example, might be thought to pay higher insurance rates. The truth is that insurance companies do not consider car color at all when establishing your insurance rates.
Doors
The number of doors on your vehicle also makes no difference in the amount you pay for your insurance premium. The most important factors for your car insurance based on your make and model involve the cost of repairing the vehicle and the statistics for theft of that kind of vehicle. The other facts about your car are often irrelevant.
Apologizing at the Scene of an Accident
Being apologetic at the scene of an accident may seem natural and polite, but it actually can impact the results of your insurance claim with your own insurance company or the insurance company of the other driver. Refrain from apologizing to the other driver, no matter how the accident happened.
If you apologize, the other driver's insurance company may try to claim that you have admitted fault for the accident. This could mean the accident investigation drags on longer, meaning it takes longer for you to get your deductible back. Until the investigation is complete and fault has been divided according to the facts, you should not say or do anything that might shift more blame toward you.
Standard Rates for Insurance
It is very difficult to find two people who pay the same rate for car insurance. There are no standard rates and every insurance policy uniquely rated. Even if two people drive the exact same car and are the exact same age, and live in the exact same neighborhood, one may pay more because he drives farther every day or because he is not married.
The variables involved in car insurance rates are extremely personal, unique to each driver and difficult to predict. If you really want to know what you will pay for car insurance, enter your zip code in the box at the top of this page and get a personalized quote.
