Get the Facts
Auto insurance is one of the most important parts of owning a car, but when it comes to understanding it, there’s lots of information to sift through. Many myths have been created in regards to auto insurance, and it’s important for car owners to clearly understand what’s true and what’s false. TWFG Insurance Services is here to help you find factual information about your auto insurance policy!
Flashy Cars Are More Expensive to Insure
Believe it or not, the color of your car has nothing to do with insurance rates. Instead, your auto insurance typically depends on factors such as make, model, year, and engine size of your vehicle. The age of the driver, as well as their driving record, can also have an effect on insurance rates, but there’s no need to worry about color when selecting your next ride.
Your Credit Doesn’t Affect Insurance Rates
As previously mentioned, there are many factors that go into determining your car insurance rates, with one of the most important being your credit. Your credit becomes a factor because it shows how quickly you’re able to pay off a loan, so the better your credit, the lower your premiums. It’s also believed that people with higher credit scores tend to get into fewer accidents, costing insurance companies less money.
Getting a Traffic Ticket Always Increases Premiums
What’s worse than having to pay a ticket, only to realize that you now have to pay more every month for your auto insurance? Luckily, though, if the ticket was written for a minor violation and you have a fairly clean record, your insurance premiums may not increase at all. It’s even possible, in some states, to take classes to reduce or remove points from your license, which can help lower your auto insurance rates. Do keep in mind, however, that if you have multiple traffic tickets or serious violations, you’ll likely be looking at increased premiums.
You Only Need State-Minimum Liability Insurance
Although, by law, you’re only required to carry state-minimum insurance policies, it’s often not enough in the event that something does happen that requires extensive coverage. Buying only the minimum amount of auto insurance means that you’ll likely be paying more out-of-pocket if an accident does happen.
Let TWFG Insurance Services Help You With Your Insurance Needs
Selecting auto insurance can be tough, but our team at TWFG Insurance Services is here to help! Our experienced team of agents can help you determine which policy is right for your needs. To learn more about the facts of auto insurance or to find an auto insurance policy, reach out to us in Pflugerville today!