Insure.com Debunks the Top Car Insurance Myths
04 Marzo 2009 - 11:00AM
PR Newswire (US)
DARIEN, Ill., March 4 /PRNewswire-FirstCall/ -- A flood of
misinformation can drown out the facts when you're trying to
understand your insurance policies. Insure.com has rounded up the
top car insurance myths and explains the reality: Myth: Red cars
are the most expensive to insure. Fact: Red will not cost you more
green. Insurers are interested in the year, make, model, body type,
engine size and age of your vehicle. The color may be important to
you, but it doesn't matter for insurance purposes. Myth: Thieves
prefer to steal new cars. Fact: It's the other way around.
Statistics show that thieves actually prefer to steal older cars,
according to National Insurance Crime Bureau. The most-stolen cars
are the '95 Honda Civic, '91 Honda Accord, '89 Toyota Camry, '97
Ford F-150 pickup and '94 Chevrolet C/K 1500 pickup. Myth: My
insurance will cover me if my car is stolen, vandalized or damaged
from hail or fire. Fact: Unless you have comprehensive coverage,
you are not covered for any of these things. You need to purchase
both collision and comprehensive coverage in order to fully protect
your vehicle from all types of damage situations. Myth: If my car
is totaled, my insurance will pay off what I owe on my loan or
lease. Fact: When your car is totaled, your policy does not pay off
what you owe. It will pay you the actual cash value of your car,
minus your deductible. Actual cash value is the amount your car was
worth before the accident, factoring in depreciation. You are still
responsible for any amount outstanding on the loan or car lease.
The only way to cover the difference between the car's cash value
and the amount you owe on a loan is to purchase gap insurance.
Myth: My insurance company will pay for a rental car if my car is
stolen or damaged in an accident. Fact: Even if you have
comprehensive and collision coverage, it may not include a rental
car. Rental car reimbursement is not automatically included in most
car insurance policies, but you can add it at an affordable cost.
Myth: Drivers of sports cars get more tickets and thus pay higher
insurance premiums. Fact: That's not necessarily the case.
According to a study by Quality Planning Corp., leading the pack
with the most violations are drivers of the Hummer H2 and H3.
Hummer drivers have almost five times the number of violations
compared to the average. For more details, read "6 top car
insurance myths" at
http://www.insure.com/articles/carinsurance/car-insurance-myths.html.
About Insure.com Originally founded in 1984 as Quotesmith
Corporation, Insure.com owns and operates a comprehensive consumer
information service and companion insurance brokerage service that
caters to the needs of self-directed insurance shoppers. Visitors
to the company's flagship Web site, http://www.insure.com/, are
able to obtain free, instant car insurance quotes, instant life
insurance quotes, home, business and health insurance quotes from
leading insurers and have the freedom to buy online or by phone
from any company shown. Insure.com also plays home to over 2,000
originally authored articles on various insurance topics and also
provides free insurance decision-making tools that are not
available from any other single source. Insure.com generates
revenues from receipt of industry-standard commissions, including
back-end bonus commissions and volume-based contingent bonus
commissions that are paid by participating insurance companies. We
also generate advertising revenues from the sale of Web site
traffic to various third parties. Shares of the Company's common
stock trade on the Nasdaq Capital Market under the symbol NSUR.
DATASOURCE: Insure.com CONTACT: Amy Danisen of Insure.com, Inc.,
+1-860-386-6446, Web Site: http://insure.com/
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