Common Misconceptions on Car Insurance—Busted!
Whether personal or business, financial risks can be avoided through the right insurance coverage. A common mistake people make, however, is to assume that their policy is fail-proof. Make sure you don’t follow suit when buying car insurance, by clearing up any misconceptions you might have heard about it.
Stolen items left in the car will be fully paid
A lot of people believe that they can claim as much as they want if their car’s been broken into. But the truth is most insurers have an upper limit for the amount that will be paid for stolen items. To avoid major losses on your part, avoid leaving anything valuable in your car.
Comprehensive cover applies even when driving other cars
A ‘driving other car’ cover is a separate policy that is offered only in certain circumstances, so it’s wrong to assume that it’s an inclusion in a comprehensive cover. If you drive someone else’s car in get into an accident, you will be liable for damages. So make sure you drive very safely when using other people’s vehicle.
Driving convictions means no insurance
You can still get insurance even with a driving conviction or offenses attached to your name. But considering your history as a driver, insurers would surely put a higher premium on your cover. They do have a business to protect. What if you’ve only been charged with speeding? If it’s a first offense, you can be insured with no extra charge. If it happens more than once, your insurance premium will definitely increase.
Your car can be insured with more than one insurer
Two heads may be better than one, but definitely not two insurers. It may seem like a great idea when your vehicle is covered by two or more insurance companies, but it can result in confusion. Who will take responsibility if you get into an accident? Now you know better.