Car Insurance Myths Steer You in the Wrong Direction - Keating Agency Insurance

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car insuranceCar insurance is necessary for all Connecticut drivers.  In order to register a car in Connecticut, the state requires policies to have a minimum of $25,000 of bodily injury coverage per person per accident, $50,000 of bodily injury coverage total per accident, and $25,000 of property damage coverage per accident.

Additionally, drivers must carry uninsured or underinsured coverage.  This pays the driver’s and any passengers’ medical bills if the at-fault driver is underinsured.  This includes a minimum of $25,000 of coverage per person and $50,000 of coverage total per accident.

Failure to carry coverage can result in fines, suspension of car registration, and the inability to renew or register any car.

So, now that you know you need auto coverage in Connecticut, what kind of policy do you choose?

Car Insurance Myths that Need to Die

Our friends at the Insurance Information Institute (III) list a number of myths people believe about car insurance.  One relates to some of the information we posted above:

  • You only need the state minimum required coverage

Opting for a policy that provides the bare minimum insurance coverage can leave you exposed.  You pay out-of-pocket for accident costs that exceed the minimum coverage.

car insuranceOne of the most popular myths is that car color impacts your insurance costs.  Rather than color, our friends at III suggest you pay more attention to your credit score.  Connecticut allows insurers to use a driver’s credit history when figuring the cost of premiums.

The Connecticut Department of Insurance provides information about other things that affect premiums.  This includes where you park, where you live, and your driving history.

Business Insider lists additional myths, or “lies,” people believe about car insurance.

  • No-fault insurance means it’s not my fault.

Actually, no-fault insurance allows immediate payment for medical expenses and lost wages to those impacted by the accident.  The insurance company still determines who is responsible.

  • A car’s driver is responsible for an accident regardless of who owns the car.

Generally, personal auto insurance follows the car, not the driver.  So, your car, your responsibility.

  • Personal belongings in my car are covered by my auto insurance.

Unfortunately, an item of personal property, such as a cell phone or laptop, is not covered under your auto policy.  For lost or stolen items, file a Homeowners or Renter Insurance claim.

The Keating Agency can answer any questions about auto insurance, deductibles, and finding the right coverage for your needs.  We work with nearly two dozen companies, giving us the flexibility to find you the insurance at the right price.

Give us a callWe’re here to help.