Lies About Car Insurance You Probably Believe

LOS ANGELES - Jan. 24, 2025 - PRLog -- There are 14 car insurance myths. Here are a few. For full article, link at end.

Myth #7: Your Car Insurance Premiums Won't Increase if an Accident Wasn't Your Fault
If I didn't cause the accident will my car insurance rate increase?
Even if you weren't at fault in a car accident, your rate will increase, but not as much as the at-fault driver's. The logic is that a very safe driver can circumvent a collision, and the DMV offers defensive driver courses too.

Myth #8: You Don't Need MedPay if You and Your Family Members Have Health Insurance
Why would I buy medical payments (MedPay) coverage if I have health insurance?
It's common for people to assume that buying medical payments coverage (MedPay) is overkill because they already have health insurance. However, there may be out-of-pocket costs and deductibles with a health insurance policy and MedPay can cover those gaps. Also, for minor car accident injuries, MedPay is more convenient because it doesn't have a deductible.

Myth #8: All Insurance Companies Will Offer You Pretty Much the Same Rate
Why would I bother talking to a bunch of different insurance agents when they're all the same?
Another great misconception is that all insurance companies charge in the same ballpark. This is simply not true, just as it's not true that you can haggle down a car insurance rate. After applying all discounts and bundles, you can't talk down a car insurance rate. However, each insurance company will offer a different rate or have different discounts. You don't know which auto insurance company will offer you the lowest rate until you compare insurance quotes and apply all discounts.

Myth #9: Electric Vehicles Are Always More Expensive To Insure
Even used EVs are more expensive to insure, right?
Wrong. A myth about electric vehicles is that they always cost more to insure. How expensive a car is to insure largely depends on its market value. An inexpensive EV won't cost much more than a gas-powered vehicle, and a used EV will not be very expensive if its value has depreciated, even a year or...

full article: https://smartfinancial.com/car-insurance-myths