Have you been in a conversation when people mentioned a bunch of things related to Massachusetts automobile insurance like they were absolute truths and they didn’t sound like that to you? You aren’t alone.
Nowadays, everyone thinks they know everything about the insurance of their vehicles. But they don’t really. No one can be aware of all the details unless they directly work with the matter. That’s why it’s useful to distinguish the myths from the truths. We are here to help you out with that.
Here we’ll present the most frequent myths and see how they fit in reality. Enjoy!
Massachusetts Automobile Insurance Myth #1: The Insurance of Red Cars is More Expensive
For some reason, a lot of people think that they’ll pay more if they want to insure a red car. However, everyone that has insured a vehicle in their life knows that this is far from true. This is because the insurance companies never ask for the color of the vehicle you want to be insured.
Since they are mainly interested in the money, it’s irrelevant to them which color your car is. What matters is not to break the law while you are in traffic so that they aren’t required to pay more back to you. Connected to this, there’s no real evidence that the police pulls over red cars more than the rest. Therefore the color doesn’t matter to them at all.
When completing the needed documents for getting the insurance, owners are usually asked to state their personal details as well as those of the other driver if someone else is driving the car, the year of the vehicle, the model, and other specifications it may have. But not the color.
Massachusetts Automobile Insurance Myth #2: Only Expensive and Sports Cars Get Stolen
There’s a misconception that owners of older cars are protected from thieves. Apparently, many people think that only those that have expensive, shiny, new, and fast vehicles face the stealing threat.
Massachusetts Automobile Insurance Myth #3: The Automobile Insurance Covers Every Possible Damage and Accident
This whole matter isn’t as easy as it may sound. Even if you have a full insurance coverage, you can’t be certain that absolutely everything falls under it. There are many packages meant for different types of damages and accidents, so it’s not as simple as buying one that incorporates all of them.
Moreover, the minimum coverage that is requested by many states as mandatory only covers the damage you inflict on someone else’s car. The comprehensive coverage is meant for natural disasters, while the collision coverage helps you in case you inflict damage on your own vehicle. This goes on and on.
Massachusetts Automobile Insurance Myth #4: The Premium Is Higher as the Driver Is Older
It’s 2018, and people still believe in this myth that the premium you pay is higher as you grow older. What’s more, in the core of the myth lies the theory that older people tend to have poor eyesight and their reflexes are slower than the ones of a younger person. That is why car insurance companies supposedly charge higher premium rates.
That’s absolutely not true!
In fact, the situation is quite the opposite. Individuals who are above fifty-five years can actually get an Massachusetts automobile insurance at a reduced price once they pass a test of safe driving. However, you should be careful as different companies give different discounted rates.
Massachusetts Automobile Insurance Myth #5: The Loan or Lease Will Be Paid off by the Car Insurance in the Case of a Totaled Car
Even though it would be cool for the car insurance to do that, it’s a great misconception. The driver should still pay the loan or lease. The only thing you’ll get from the insurance policy in case of a totaled car is the actual cash reduced by the deductible. For all those wondering, the actual cash here is actually the value of the car before it was totaled.
However, have in mind that there is an Massachusetts automobile insurance option that pays for the difference between the vehicle’s value in cash and the owed amount of loan or lease. It’s called gap insurance. It pays for the unpaid loans or leases if the car is totaled before they’re paid off or before the term of the lease is finished.
The next to consider here is what exactly a totaled car is. The insured should take it up with the company as every company has different criteria as to whether the vehicle is deemed as totaled.
Massachusetts Automobile Insurance Myth #6: The Car Insurance Provides a Rental Car in Case of an Accident
Don’t count on your insurer to give you a rental if your vehicle is stolen or somehow damaged as this, usually, doesn’t go into the regular insurance policy. But, there’s always another way, right?
Rental car reimbursement can be added to your insurance policy but at a certain price. Although the exact sum isn’t universal for all companies, some statistics point to a low price of $1 to $2 per month as the price offered by most insurance companies.
Note that the rental car reimbursement has certain limits like the amount of money your insurer is willing to reimburse on a daily basis as well as the highest sum of reimbursement you get per accident and so on and so forth.
Massachusetts Automobile Insurance Myth #7: High Automobile Insurance Rates for Sports Car Drivers
Some believe that a fast and furious Mercedes equals high insurance rates whereas owning an ordinary sedan means lower ones. That can’t be a hundred percent true as what matters to the automobile insurance company are the risk factors.
Actually, the demographics play a huge role in how the rates are calculated. If the driver is younger, the insurance rate is higher because it’s perceived that that driver isn’t experienced and may be prone to accidents. So if a sedan is driven by a twenty-five-year-old, it may get a higher rate than the fast Mercedes driven by a fifty-year-old.
In Conclusion…- Massachusetts Automobile Insurance Myths
All in all, in order to find out what the insurance companies offer and check what is exactly covered, it’s best to do a little digging online. For example, if you live in Massachusetts, you can go to a search engine and type something like ‘Massachusetts automobile insurance’ and you’ll see a bunch of sites appearing on your screen. The next step is visiting them and discovering the coverage information you need instead of relying on all the different myths out there. Good luck!