Choosing the right car insurance policy is often confusing because there are many misconceptions that people believe. They lead us to make decisions that are not beneficial in the long run and often cost us more money. This is why it is essential to work with a reliable auto insurance broker. As a leading insurance brokerage having the best insurance brokers in Barrie, we know the ins and outs of the industry and can help you. Check out our list of myths about car insurance policies to make an informed choice.
Common Misconceptions About Auto Insurance
The Colour of the Car Affects the Cost of Car Insurance Coverage
When it comes to a car insurance policy, there is a perception that yellow and red colours are the most expensive. However, the truth is that the price of auto insurance depends on the make, model, and year of the car. Thus, car colour does not play a role in the coverage rates.
A Bad Driving Record Means No Car Insurance
You are entitled to car insurance in Canada. Even with bad driving history, you do have options. If your record indicates that you may be a higher insurance risk, your premium amount might increase significantly as compared to an individual who has a better driving record.
Higher Premium Amount = Greater Coverage
It helps to know that an insurance company determines the rates of car policies for specific driver-vehicle combinations. The cost of the coverage typically depends on a variety of factors, including the make and model of the car, the driver’s age and driving history, and more. Thus, a higher premium may not always mean more coverage.
Insurance Works the Same Way Across All Province
Your postal code and location are also essential aspects that determine your premium amount for car insurance. The price of your policy may be higher if you live in an area that is closer to major intersections and streets that have more traffic. This is because the amount of accidents often increases in areas with higher vehicle volume. Also, neighbourhoods with a larger population can often have more vehicle-related crimes, meaning higher premiums.
It Won’t Affect You if Your Friend Gets into an Accident in Your Car
It helps to know that your friend’s crash in your car will impact your insurance record because you are the policyholder for the vehicle. Thus, if you have a friend who uses your car frequently, you may want to consider adding them to your policy.
It is Always Better to Shop Around for Different Insurance Quotes
Contrary to popular belief, it is better to work with a reliable insurance broker who can look for different quotes on your behalf. They have the knowledge and expertise to understand the terms of each policy and help you choose the best coverage according to your needs and within your budget.
Our Car Insurance Brokers in Barrie Offer Reliable Advice
At Orr and Associates, we are committed to offering prompt and reliable solutions in the form of accurate insurance quotes. We have the resources and knowledge to compare policies from top insurers and help you choose the right one. If you are looking to obtain an insurance policy for your car, reach out to auto insurance brokers in Barrie by calling 905-833-6691 or toll-free 1-866-521-5926. You could also fill out our form to get an online auto insurance quote.