Since there are lots of different car insurance companies, and each one has a unique set of rules and policies for deciding their rates, it’s unsurprising that the insurance industry is perpetually dogged by ill-founded rumours. But the truth about insurance is freely available, and in lots of cases these rumours are demonstrably false. That’s why it’s always a good idea to approach these things with a healthy dose of skepticism, especially when you’re seeking an Ottawa auto insurance quote. And if you think you may need someone to help give you the plain truth about the insurance industry, consider consulting with a licensed professional who can help you sort through these issues.
Myth: Rental car coverage pays for rental car accidents.
Fact: If your insurance policy has a clause billed “rental car coverage,” don’t fall into the trap of assuming that this is coverage for when you rent a car on vacation. This is far from the truth. In reality, rental car coverage reimburses you for the price of a car rental any time your personal vehicle is in the shop due to a collision. It has nothing to do with the cars you rent on vacation, for which you’ll need to get separate temporary coverage.
Myth: Everything is covered under comprehensive coverage.
Fact: The name “comprehensive” is slightly misleading. Comprehensive coverage is actually a specialized insurance tool intended to help customers make their standard policies more comprehensive. In other words, comprehensive coverage is supplemental. To be specific, it usually covers damages resulting from non-collision-related causes such as fire, vandalism, theft, or weather. Because comprehensive coverage can be quite affordable, you might want consider at least experimenting with how it affects your Ottawa auto insurance quote.
Myth: Insurers are legally allowed to charge whatever they want.
Fact: People who perceive their insurance rates as exorbitant are wont to make the complaint that insurance companies shouldn’t be allowed to charge so much. But in reality, insurance is a very highly regulated industry. While certain conditions can make some individuals’ rates go higher than normal, lawmakers have by-and-large made the industry overwhelmingly fair for both providers and customers. Remember that any time you feel that an insurance company is charging too much, you can always go get an Ottawa auto insurance quote from a different company.
Myth: People under 25 always have to pay more.
Fact: For anyone applying for an Ottawa auto insurance quote, there are a large number of factors that companies take into consideration, and age is just one of them. They’ll also consider your driving history, the safety features of your vehicle, and any number of other points. Even though there is a good chance that your insurance rate will become lower after you turn 25, there’s no way to be sure of this. In fact, an unrelated demographic or safety factor may actually cause your insurance to go up.
Myth: Bundling insurance always gets a cheaper rate.
Fact: If you have a different kind of insurance, you may benefit from getting an Ottawa auto insurance quote through the same company, but there’s no reason to assume that packaging will automatically get the best deal. In any case, it can’t hurt to at least seek quotes from a few other companies.
