Let’s Debunk 4 of the Most Common Auto Insurance Myths!

Chances are that if you previously looked into insuring your vehicle, you probably tried to determine which policy best fit your needs, deciphered the meaning of “deductible,” and weighed all of your coverage options. The last thing you’ll need is to be bombarded by myths. At Shepard Walton King, our McAllen insurance agents want to help you make the right choice by knowing a few myths about the insurance industry.

Myth 1: Your Age Raises Your Premiums

Many believe that insurance rates increase with age. After all, as you get older, your diminished eyesight and reflexes make it harder to drive, resulting in increased chances of getting into an accident, right? Wrong! In fact, drivers over 55 can sometimes qualify for age discounts with certain insurers.

Myth 2: Credit Ratings Don’t Play a Role in Your Policy

They most definitely do! Many states let insurance companies use driver credit histories to determine rates. Your credit score will inevitably inform your insurance company of whether or not you’re likely to make payments on time. In some instances, better scores are an indication of good drivers, so keep an eye out for that as well.

Myth 3: Red Cars Are Harder to Insure

Yes, some people actually believe that red cars are harder to insure! In reality, a car’s make, model, age, and engine size are much more likely to impact insurance rates.

Myth 4: Not Reporting an Accident Prevents Your Rates from Rising

Is it true that if your insurer doesn’t find out about an accident you had, your rates are likely to stay low? Of course not. If you’re in an accident, chances are the other driver’s insurance company will file a claim against you, alerting your own insurer. If the other driver is uninsured, the crash report will likely appear on your record, increasing your premium.

Let’s Find a Great Deal Together!

If you’re having trouble finding an insurance plan that fits your needs and budget, let Shepard Walton King help. Our McAllen insurance agents will help you identify several options and provide you with advice and information to make an informed decision. Contact our insurance agency in McAllen today for more information.

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