4 Common Auto Insurance Myths About Shopping Around

common auto insurance myths or misconceptions. Car insured by insurance company

Online shopping portals is a great means to purchase cheap items just by clicking your mouse on the desired items. It is also a great means to find cheap insurance deals at the comfort of your home.

You can buy motor insurance policy online or through independent brokers or agents at cost-effective rates quickly. However, you should be smart enough to understand various important factors of a policy.

Some of the key factors of policy include inclusions & exclusions of the policy, coverage limits, & availability of additional coverage. You should also have great bargaining skills to avoid being trapped in a costly policy.

You should be wise enough to understand the hidden truth behind common auto insurance myths or misconceptions. Here are 4 popular car insurance myths or misconceptions about shopping around:

(1) If You Are Younger, Shopping Around Is A Waste Of Time

It is one of the most common auto insurance myths about shopping around. People often believe that if you are younger then shopping around can just be a waste of time.

We know that age is the key factor in determining your rate of automotive insurance. But there are various other factors as well that are equally significant in determining your premiums.

Thus, you should never hesitate to shop around, either online or offline, just to save your hard earned money from costly insurers.

[Read Also: 10 Surprising Car Insurance Myths About Rate Of Insurance]

(2) Third-Party Coverage Is Always Cheaper Than Comprehensive Coverage

It is one of the most popular & common auto insurance myths about shopping around. People often believe that third-party insurance is always cheaper than comprehensive coverage. It is usually the minimum legal requirement in most of the states or countries

But, actually it’s not true always. Some insurers prefer to raise premiums for third party coverage or third-party, fire & theft cover due to number of highly-risky drivers who signup for these kinds of policy.

Thus, you should never purchase a given policy blindly. It is much better to consider the right policy that meets your individual needs quite effectively at cost-effective rates.

Finally, you should never hesitate to shop around for the best insurance deals at affordable cost.

Image Source: Shutterstock

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1 Comment on 4 Common Auto Insurance Myths About Shopping Around

  1. Paul Henderson // May 21, 2016 at 3:54 PM // Reply

    great article to read, who need information about auto insurance, cheap insurance deal, thanks for needfully auto article

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