4 Insurance Myths

redcarBeing in the insurance industry, we have heard it all.  There are so many different myths about insurance that have little to no truth behind them.  We would like to tell you the top 4 myths we have heard over the years and debunk them right here and now.

  1. Owning a red sports car will not cause your insurance premium to be higher than if you own a sports car of any other color.  The color of your vehicle is not in any way factored into your premium rate.  The vehicle’s make, model and year are used, but the color is completely irrelevant.  So go ahead and splurge for that shiny fire engine red one!
  2. If you are a smoker, you can get life insurance.  Although, your rate may be higher than that of a non-smoker. Quitting smoking now will not only be good for your health, but it will be good for your insurance premium as well.  Some life insurance policies could cost up to 4 times as much for smokers.
  3. Yes, you should consider life insurance if you are a stay-at-home parent.  Think about how much life would change financially for your family if you were to pass away.  Your spouse may need to pay for child care and/or housekeeping when you are not there.  That could take away from the finances you had set aside for your children’s future.  For a very minimal premium payment, you could have a significant life insurance policy to help offset any charges that could occur when you pass away.
  4. No, flood insurance is not just for people who live near water.  Most flood claims come from areas that are not prone to flooding.  Any water that comes in from the ground up is considered flood water and is not covered by most standard homeowner’s policies.  Call [astPhone] for a quote on a flood insurance policy today!

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