Debunking 3 Common Myths Associated with Affordable Auto Insurance

Affordable Auto Insurance Frisco TXOwning and operating a vehicle can be costly due to the initial purchase, maintenance and gas, but you can reduce stress and save money by choosing affordable auto insurance. Not only is it important to have in case you are involved in an accident, but having a basic policy is also legally required. If you are currently shopping for quality insurance that does not cost you a fortune, it is important to educate yourself. By debunking these common myths, you will have a better understanding of where and how to find affordable car insurance.

Not Reporting Accidents Can Save You Money

Your insurance policy is designed to cover you in case you are involved in an accident. If you have to file a claim, you may need to pay a deductible before receiving a payout to make repairs. Multiple insurance claims may cause your premium rates to increase since you could be placed into a high-risk category. Because of this, many drivers will skip repairs on minor fender benders.

Unfortunately, not reporting accidents to your company will not save you money. If another driver is involved in the accident, they will most likely report the damage to their vehicle to their insurance company. This will not only involve you and your driving record, but another driver’s claim will affect your insurance policy. You may not submit the claim, but the other person involved will.

Red Sports Cars Are the Most Expensive To Insure

Insuring a red sports car will cost more than a red sport utility vehicle, but the actual color does not really matter. Sports cars are the most expensive to insure since a large percentage of drivers will end up speeding in these faster vehicles. Speeding also increases the risk of accidents, making repairs more likely. Lastly, sports cars have a higher risk of being stolen, which will require your insurance company to pay for a replacement.

For the most affordable auto insurance premiums, consider a crossover SUV or four-door sedan. These vehicles are easy to maneuver, have a higher safety rating and do not have expensive parts in case repairs are needed.

Your Credit Score Does Not Affect Your Insurance Costs

You may contact multiple insurance companies for quotes when shopping for an auto policy. These quotes will be based on your vehicle, age and driving record, but most people are surprised to learn their credit score will also affect premium rates.

Recent studies have shown individuals with lower credit scores are more likely to file insurance claims. Although not understood by most people, lower credit ratings will increase insurance premiums.

Saving money on your car insurance is possible with proper understanding. For affordable auto insurance, contact the Anthony Blackmon agency in Frisco, TX, at (469) 291-9006.

Affordable Auto Insurance Frisco TX
Anthony Blackmon Insurance Agency
9191 Kyser Way, Suite 200
Frisco, Texas 75034
(469) 362-8484

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