Are you curious about common misunderstandings in the insurance world? There are many misconceptions in every industry around the country. Unfortunately, in the insurance industry, myths are common and consumers get easily confused about what insurance they need and why.
Here are some common myths and misconceptions about things people think are covered but aren’t or don’t even think to get covered:
- Does my roommate need renter’s insurance?
- If your roommate has renter’s insurance, that’s great for them. Unfortunately, it doesn’t do anything for you. Each tenant needs their own renter’s insurance policy to protect their personal possessions.
- Do I really need self-storage renter’s insurance? Aren’t my belongings guaranteed?
- Belongings are guaranteed, but a lot of individuals have the wrong idea about this. Self-storage providers do not provide free insurance on your belongings. However, you can buy insurance through a third-party insurance provider. That will cover you if fire damages the entire self-storage facility. Be sure you ask about this prior to signing the rental agreement.
- Are some vehicle colors are more expensive to insure than others?
- The color of your car has no impact on your insurance rates. This is not a factor in the calculation of insurance rates.
- Are smaller cars cheaper to insure than larger models?
- Minivans and mid-size cars are generally the cheapest vehicles to insure.
- Thieves generally prefer to steal new cars. True?
- Older models are considered more valuable to car thieves. There are more opportunities to sell their individual parts, and that has bigger profits.
- If someone else drives my car and causes an accident, will their insurance cover the damage?
- Insurance follows the vehicle rather than the actual driver. If you legally own the car, your insurance will need to handle the claim.
Here are some questions to ask yourself when researching insurance coverage and some things to think about:
- “What happened to you when you found out that your insurance didn’t cover something?”
- “What is something you thought you had insurance on but didn’t?”
- “What effect does your credit history have on insurance?”
- “What doesn’t home insurance cover?”
- “If your garage burns down, will your homeowner’s insurance cover your car?”
- “What is an umbrella policy and why would you need one?”
- “Why is there life insurance for children?”
We have six conveniently located offices in Beverly, Slatyfork, Franklin, Elkins, Webster Springs and White Sulphur Springs. Our entire team of insurance specialists are here to get you covered and save you money! Call Mountaineer Insurance, your community insurance agency, today at 304-338-2902 for your free insurance review!