Top Auto Insurance Myths

Auto insurance is a necessity in Longwood, FL. Even if you think you know everything about it, you probably don’t. In fact, there are many myths about auto insurance that are constantly going around. To help you become more educated on what is true and false, Blanchard Insurance has compiled a list of some of the most common myths.

  • Your Credit Score Has Nothing To Do With Your Insurance Rate. Having a poor credit score can directly impact your rate. The lower your score, the more likely it is that you will end up paying more for auto insurance. Many insurance companies actually use this to help determine how likely you are to continue paying the cost every month.
  • Red Cars Cost More to Insure. Have you considered not getting a red car because you thought it might cost more in insurance? You may have made a mistake because the color of a car has nothing to do with it. What is taken into account is the made, model, age, engine size, and body style of the vehicle as well as the age, driving history, and credit score of the driver.
  • If Your Car Is Totaled, It Will Be Paid Off by Insurance. This is not completely the truth. In fact, insurance will be for some but they look at fair market value. This takes into account the original cost as well as the depreciation. This can sometimes mean that there is a gap and the rest will need to be paid for by the driver. Gap Insurance is a good alternative to prevent this.

If you are thinking about getting a new auto insurance policy or are interested in making sure you are not paying too much, you can reach out to Blanchard Insurance serving Longwood, FL.