Three auto insurance myths

Like a teenager eager to try a new video game, playing before reading the rules, many drivers buy insurance without really understanding what they’re buying. In the rush to feel “covered,” they can skip the details and that can lead to frustration.

“Understanding your insurance coverage is not hard – it just takes a few minutes,” says InsureMe Texas agent Ryan Monceaux. “Take the time to talk to an agent and ask questions. Protecting your home or auto is a pretty big deal.”

Following are three insurance myths heard by some of the more than 13,000 claims people at Progressive, one of the country’s largest auto insurance companies:

Myth #1: I bought “full coverage” so everything’s paid for.

Reality: There is no such thing as “full coverage.” In Texas, only liability insurance is mandatory. There are a lot of other coverage options out there, so select what you need and can afford based on your personal situation.

“Full coverage can mean different things to different people. Some agents will tell you that you have “full coverage” when they really mean any coverage in addition to liability,” says InsureMe Texas account executive Brad Trousdale.

Myth #2: I need three estimates before my wrecked vehicle can be repaired.

Reality: Not necessarily. Very few insurers actually require this, although some might. If you decide to use a shop that’s in an insurance company’s “network” of pre-approved shops you may just have to get an estimate from that shop.

Myth #3: If I buy a new car, my auto insurance company automatically knows; and my new car is covered.

Reality: No. Most insurance companies require that you notify them or your agent within a specified number of days. Generally, you have 30 days to add the new vehicle to your policy.

“We understand our clients do not deal with insurance every day and therefore need an experienced friend in the industry,” says Monceaux. “The agents at InsureMe Texas want to be that friend and want to help out – if you buy from us or not. We’ll help you ensure that your coverage protects you and your assets.”

To learn more, contact InsureMe Texas at 866-612-4446.