We Have Answers To Common Personal Insurance Questions
Recently, a survey was given to people who purchase personal insurance and the results were very interesting. The survey concluded that most people may not fully understand how insurance works. Some of these misunderstandings can lead to improper coverage and even uninsured losses. Let’s review some of the personal insurance misconceptions.
Personal Insurance Misconceptions1
- “One major auto accident will cause my insurer to cancel my policy”.
44% of people think this is true; however there are state laws that prevent insurers from cancelling auto insurance policies midterm.
- “Auto thieves like newer cars”.
58% of men thought this to be true, but older cars are more valued due to the aftermarket for parts.
- “If I get a ticket out of state it won’t show up on my driving record”.
13% of people believe this. The fact is tickets will follow you.
- “Red cars cost more to insure.”
46% of people believe this. The color of your car does not affect your auto insurance premiums.
- “My home values should be based on the real estate market value”.
52% of people believe this. We always recommend you buy home insurance based on the value to rebuild your home with like kind and quality of materials. This is called replacement cost.
Another misconception is that you can design and buy a personal auto policy in less than 15 minutes on line. We do not think you can purchase any insurance in that amount of time on your own and get the personal insurance you need to fit your individual situation. Never underestimate the importance of speaking with a live person when it comes to your car insurance. Without an agent, you will have to research answers to your insurance questions. At the time of a loss, it is comforting to have a familiar voice help you through the claims process.
Founded in the Belltown neighborhood of Seattle in 2004, we now service the entire west coast, including Washington, Oregon and California, with office locations in Seattle and San DIego. At Belltown Insurance Group, each one of our clients are given a dedicated team of experts that work together to proficiently address all your concerns.
We offer all types of Personal Insurance coverages to our clients in Washington including Auto Insurance, Homeowners Insurance, Individual Life Insurance, Motorcycle Insurance, and Boat & Watercraft.
Give one of our agents a call to save money on your Business Insurance. Some of our Commercial insurance coverages include Business Owners Policy (BOP), General Liability, Commercial Auto, Workers Compensation, and Bonds.
1 Information provided by PropertyCasualty3600