{"id":215,"date":"2021-12-13T18:52:21","date_gmt":"2021-12-13T18:52:21","guid":{"rendered":"https:\/\/www.benjaminsjunkcars.com\/blog\/?p=215"},"modified":"2021-12-13T19:02:05","modified_gmt":"2021-12-13T19:02:05","slug":"do-not-believe-these-3-myths-about-car-insurance-coverage","status":"publish","type":"post","link":"https:\/\/www.benjaminsjunkcars.com\/blog\/do-not-believe-these-3-myths-about-car-insurance-coverage\/","title":{"rendered":"Do Not Believe These 3 Myths About Car Insurance Coverage"},"content":{"rendered":"\n

Tall tales and misconceptions have long contaminated the information surrounding modern-day automotive insurance. If you drive a car, you should have liability coverage in the least for your vehicle. Additional insurance advice can be sought out through your local insurance companies or representatives. In the meantime, to protect yourself from falling victim to any tall tales or conspiracy theories about your insurance, be sure to cover your tracks with the right knowledge.<\/p>\n\n\n\n

Continue below to learn the top 3 myths about car insurance, plus what you can do if you total a vehicle that is not covered under policy in Indiana.<\/p>\n\n\n\n

\"Sell
Sell a Totaled Car Indianapolis Indiana 317-218-7133<\/figcaption><\/figure>\n\n\n\n

Top Auto Insurance Myths<\/strong><\/h1>\n\n\n\n

Red Vehicles Cost More Money to Insure<\/strong><\/h2>\n\n\n\n

Are red cars more expensive to insure? Although a common myth in the automotive insurance coverage, it is not more expensive to buy car insurance for red colored vehicles. In fact, the color of a car has absolutely zero influence on how much you are quoted for coverage. Instead, car insurance quotes are calculated by taking into consideration the make, model, engine size, and body type of the vehicle, plus the age, credit history, and driving record of the listed driver. Additional factors that may apply include the car\u2019s sticker price and safety record, as well as theft statistics.<\/p>\n\n\n\n

You Can Avoid Rate Increases By Not Reporting an Accident<\/strong><\/h2>\n\n\n\n

Many drivers consequently assume that if they do not report their accident to their insurance provider, they can protect their policy rates from increasing. But this is not necessarily true. Unless you were the only party affected in the accident, there is a good chance your insurance company will find out about the accident whether you report it or not.<\/p>\n\n\n\n

If the other driver is injured, they will report the accident with their own insurance company, who will then file a claim with your insurance carrier. Also, if you are ticketed at the scene of the accident, your insurance company will be automatically notified since it will appear on your driving record. Moral of the story here: unless it is a minor incident, you will need to report it to your insurance provider.<\/p>\n\n\n\n

Auto Loans are Paid Off By the Insurance Company if You Total Your Car<\/strong><\/h2>\n\n\n\n

Do not believe anyone who says your car insurance policy will pay off the remaining auto loan on your vehicle after totaling it in an accident. Whether the accident was your fault or not, car insurance only pays claimants the fair market value of a car<\/a>, which may not be equal to the remaining loan balance. Fair market value is what the original cost of a vehicle minus depreciation.<\/p>\n\n\n\n

For instance, if you purchased your SUV for $30,000, and now have $21,000 left on the car loan, but the fair market value is estimated at $17,000 after you total it, you will be responsible for paying the remaining $4,000 on the auto loan since the insurance company will only pay out $17K.<\/p>\n\n\n\n

Have you totaled your car but you do not have auto insurance coverage?<\/strong> Contact Benjamin\u2019s Junk Cars<\/a> at 317-218-7133 to sell your junk car in Indianapolis<\/a> for cash on the spot! We serve all of Central Indiana with FREE junk car removal!<\/p>\n\n\n\n

Related Posts:<\/strong><\/p>\n\n\n\n

What You Need to Know About Paying for Auto Body Work<\/a>
Will Insurance Pay Me if I Keep My Totaled Car?<\/a>
How to Perform a Vehicle History Check<\/a><\/p>\n\n\n\n

\"Central<\/a>
Call Today 317-218-7133<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Tall tales and misconceptions have long contaminated the information surrounding modern-day automotive insurance. If you drive a car, you should have liability coverage in the least for your vehicle. Additional insurance advice can be sought out through your local insurance … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176,94,11],"tags":[182,181,129,180,8,31,115],"class_list":["post-215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-insurance","category-cash-for-cars","category-junk-cars","tag-car-insurance-facts","tag-car-insurance-myths","tag-cash-for-totaled-cars","tag-fair-market-value-cars","tag-junk-car-buyers-indianapolis","tag-junk-car-value","tag-sell-a-totaled-car"],"_links":{"self":[{"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/posts\/215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/comments?post=215"}],"version-history":[{"count":2,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/posts\/215\/revisions"}],"predecessor-version":[{"id":218,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/posts\/215\/revisions\/218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/media\/216"}],"wp:attachment":[{"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/media?parent=215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/categories?post=215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benjaminsjunkcars.com\/blog\/wp-json\/wp\/v2\/tags?post=215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}