10 Strange Auto Insurance Myths About Insurance Coverage

auto insurance myths about insurance coverage. Professional appraiser inspecting a damaged car after filing a claim

But, actually these personal items are not covered by regular insurance policy. However, you may be eligible for filing a claim through your homeowner’s insurance policy.

You should not forget to check whether your homeowner’s insurance plan is covering for such incidents or not. If not then you have to purchase an additional coverage for protecting personal belongings inside the car.

[Read Also: 11 Smart Ways To Cut Your Auto Insurance Cost Quickly]

(6) No-Fault Insurance Means Accidents Is Not Due To Policy Holder’s Fault

It is one of the worst auto insurance myths about insurance coverage for losses due to accidents. People often believe that no-fault insurance policy tend to cover for everything irrespective to who’s fault.

But, actually no-fault insurance is a type of policy that provides coverage for immediate expenses. Some of those expenses include medical attention or lost wages to a person involved in an accident with another vehicle. It is usually provided irrespective to which driver was at fault.

In United States, it is a necessary legal requirement in several states & must include a minimum amount of monetary coverage.

However, you may still be liable for repairs & other forms of damages if insurer determines your fault in accident.

(7) My Policy Can Be Canceled Anytime

It is one of the most surprising auto insurance myths about insurance coverage prevalent among policy holders. People usually believe that insurers have legal rights to cancel your policy at anytime.

But, actually insurers can’t cancel your policy in the middle of a term without any reason.

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