Gurmant is an Experienced, Accessible & Effective leader running for the nomination for Conservative Party of Canada from Cloverdale - Langley City.
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Myths and Facts You Need to Know About Your Auto Insurance Policy
When applying for an auto insurance, we have these established beliefs that we know to affect the rate of our insurance cost. We tend to be hesitant of the application because of several factors that might increase the estimated cost of securing the policy. Because of the power of internet however, insurance companies are now accommodating queries online, like the site of https://www.mcdougallinsurance.com/belleville/auto-car-insurance/. Because like you I’ve always been curious, I gathered data and listing them down below.
Myth no. 1 – There is no such thing as regulated insurance, companies charge what they want.
For every state or country, there’s a set of regulations. Insurance companies are mandated to submit computations and other data on how they determine the rates charged per customers. These rates are studied and insurers cannot unreasonably price a contract policy.
Myth no. 2 – An auto insurance policy covers me from any accident or theft.
This was what I’ve always thought was real- that my car insurance covers accidentssuch as collision and break-ins. As explained, collision is a different policy and can be purchased as additional. Chances are, you purchased the minimum insurance policy required by your location, and so review the stipulated terms and then see if you are covered by other kinds of accidents. Update and purchase an additional policy, it’s what insurance is for.
Myth no. 3 – A comprehensive insurance can cover all damages and protects me as a driver.
A comprehensive insurance policy has greater coverage than a standard car insurance, but it does not protect you from all things. It’s coverage include protection from weather damages such as hail, floods, protection from theft, vandalism, fire, and even collision with animals. Collision with another vehicle is not included in the policy.
And now for some real information:
Fact no. 1 – Getting your car insured when you live in the city costs higher.
The city life presents more risk than car owners outside the city. There’s more traffic, more motorists and sometimes parking space is insufficient. There’s also greater chance of theft within city confines therefore insurance rates go up.
Fact no. 2 – Any accident can increase your insurance rate.
Even if you were not the cause of the accident, or you were not the one driving the vehicle, your car is still listed and is therefore a reason for the insurer to increase your policy rate.
Fact no. 3 – Credit scores are used to determine discounts and rates.
If you think a different insurance company can charge you lower rates and not look at your previous records, then you’re probably wrong. Most insurance companies review credit scores or information about their clients to determine the capability of payment. If you have a record of always paying on time and leaving little to no trace of debt, then you’ll probably have bigger discounts.
These myths mentioned should be not a limitation for us to study our current insurance policies, rather it should motivate us to apply for higher premiums where necessary for our own safety. The facts on the other hand will guide you on further understanding the auto insurance world. Change your perception of auto insurance- it’s an investment, a savings account, your safety buffer.
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