Insurance companies only tell you as much as you need to know. Some information you must dig for it yourself, or find out by experience. Since I don’t like seeing people in the dark about matters like insurance, I will share some of my knowledge with you.
So what don’t you know about auto insurance ?
1. Your personal possessions are not covered
You take out a policy on the car, but not on the belongings you have in it. They will not reimburse you for that laptop that got smashed up during the accident. It’s no use trying to negotiate with them. The best lawyer won’t get the insurance company to pay for your damaged personal goods.
2. You can cover your pet’s medical bills
Many Americans love their pets to death and consider them a part of the family. It horrifies them to imagine their dog or cat suffering in the event of an accident. The exact details of pet insurance cover may depend on the state, of course, or on the insurance policy, but that’s better than nothing. Call your agent to find out more about this.
3. The policy still applies when you lend your car to a friend
Perhaps you don’t like giving your car to anyone because you fear that the policy won’t apply if they crash it. You can relax. The car is still covered, regardless of who is driving it. But keep in mind that if you make too many claims, you might get higher premiums.
4. It’s better to pay large sums spread over longer periods of time
It may seem as though paying small amounts month to month will cost you less, but paying lump sums spread over six or twelve months will prove less expensive. There may be some fees attached to your monthly payment which accumulate, and at the end of the year make your monthly payment plan costlier than annual payment, in spite of the annual plan having higher premiums.
5. If a rock from outer space falls on your car, you are covered
This will sound bizarre, but next time an asteroid or a meteor falls on your vehicle, go to the insurance company for reimbursement. Your comprehensive coverage plan covers falling objects, and that includes even those falling from the skies.
There is a wealth of information about auto insurance out there. Don’t live in the dark. Uncertainty flourishes in the absence of knowledge, and confidence in its presence. Seek out the knowledge, and arm yourself with it in case you might need it tomorrow.