Debunking Common Auto Insurance Myths
The auto insurance industry can be confusing, and a lot of misinformation gets passed around. Not only can this make it difficult to understand your insurance coverage, but it can also end up costing you money.
These are five of the biggest myths and misconceptions held by Las Vegas, Nevada drivers.
Myth #1: State Minimum Coverage Is Enough
In most cases, state minimum coverage isn’t nearly enough to cover the damages that could result from a serious accident.
Read More: Changes to Nevada’s Auto Insurance Minimum Coverage Requirements
Myth #2: Your Credit Score Doesn’t Affect Your Rate
Your auto insurance provider weighs numerous factors, including your credit score, to assess your driving risk and to calculate your premium. Your insurance quote will most likely do a “soft check” of your credit score which won’t affect your credit. But it is enough information for the insurance company to add to their list of items to look at while determining your auto rate and risk factor.
Read More: Why Did My Auto Insurance Company Check My Credit?
Myth #3: Older Drivers Are Charged Higher Premiums
Because of the discounts that are available to experienced drivers, mature drivers often pay less for their coverage. However, as we do get older and older, premiums can potentially rise.
Myth #4: Driving for a Rideshare Company
Your Personal Insurance Policy Is Enough
If your vehicle is used for commercial purposes, your personal insurance policy may not cover an accident that happens while you’re on the clock. Some Rideshare companies do offer coverage for their drivers. It is SO IMPORTANT to confirm what coverage, if any, they offer. Ask about when the coverage starts and stops during your on-the-clock time. You may need “Rideshare” coverage for your personal policy. Call your auto agent and your Rideshare company to verify what you need, what you have.
Read More: How Much Auto Insurance Coverage Do You Need?
Myth #5: The Color of Your Car Affects Your Premium
Your vehicle’s make, model, year and options affect your premium, along with many other factors; its color does not affect your premium.
Understanding Your Auto Insurance Policy with Nevada Insurance Enrollment
Don’t let these common misconceptions about auto insurance keep you from getting the best coverage for your lifestyle. At Nevada Insurance Enrollment, our auto insurance agents are here to help you understand your policy and purchase auto insurance with confidence.
Recent Posts
Coronavirus and Your Health Insurance
Nevada Health Link has responded to Governor Sisolak’s Emergency Declaration of March 12, 2020 due to the coronavirus, also known as COVID-19. It announced an Exceptional Circumstance Special Enrollment Period. This allows Nevada residents who missed the “Open Enrollment” period to enroll in a qualified health insurance plan through the state-based exchange platform.
Disclosing Health Care Prices – Trump’s Executive Order
The Department of Health and Human Services announced that there will be two new rules created to help improve competitive pricing between hospitals, health insurance issuers, and health plans. The effort is aimed at helping to empower patients when they make their health insurance decisions.
How Auto Insurance Works for Self-Driving Vehicles in Nevada
While self-driving vehicles may not be widely accepted yet, forward-collision warnings, blind-spot monitoring, lane-departure warnings, and similar components are the predecessors to what eventually will be self-driving options in high-end and mid-priced cars.