Automotive insurance is something we all have to have, but hope to never need. It’s mandatory for every driver apart from those located in New Hampshire and it is crucial for maintaining roads with functional and safe vehicles. Insurance is confusing though, and learning the ins and outs of every single plan can be a real pain. That’s why we’re here to share a few things about auto insurance that you may not have known. Our first one is for the locals:
1. Being Insured in North Carolina has its Perks
If you live in the state of North Carolina, paying for auto insurance is pretty manageable. Out of all the cities in the United States, Winston Salem, Greensboro, Raleigh, Durham, and Charlotte are the five cheapest on average in terms of auto-insurance. North Carolinians in those cities pay just over $1000 a year on insurance, while residents of New Orleans, LA pay over $4,000 a year on average. What’s more staggering is that their only the second most expensive – Detroit, Michigan residents will pay $10,723 a year on average to insure their vehicle.
2. Diminished Value Reimbursement
If you’re involved in a car accident that was not your fault, and you live in either North Carolina, Florida, Louisiana, Maine, Maryland, Massachusetts, South Dakota, Texas, Georgia, Hawaii, Kansas, Virginia, West Virginia, Washington, or Texas, you can receive reimbursement for your car’s diminished value. Any time a vehicle has been in an accident, it’s value is reduced. Even if the accident was very minor, and the damages are completely repaired, the value will take a hit. You would do well to pursue reimbursement for your vehicle’s diminished value – just remember that to do so, you cannot be at fault.
3. Allowing your Friends to Drive your Car
Any time you allow your friends to drive your car, you’re taking a risk. We don’t mean to call them bad drivers, but if someone other than you wrecks your car, it still goes on your insurance. Basically, when you have automotive insurance, it means that your vehicle is insured by you – not that you are insured. Therefore, if your friend has an accident behind the wheel of your car, you are technically at fault and you will bear the responsibility. Be wary of allowing others to drive.
4. Personal Items Stolen are not Covered
If you are the type of person who leaves your laptop bag, cellphone, or any other expensive belongings in the car, this is important. Car insurance will not cover any stolen items from your car. Homeowner insurance should cover these items instead, so if anything is ever stolen from you, that’s where you can file your claim. Added tip: We’ve found that if you have home and automotive insurance with the same company, you’ll get a better rate. Consider combining your services and see what kind of deal you can get on your insurance policies.
5. Red Cars are the Most Expensive to insure
False. Completely false. No car color is more or less expensive to insure. Insurance rates are calculated based on a large number of factors including vehicle type, vehicle brand, vehicle age, driver age, location, and driving record. To add, your credit score also has an impact on how good your insurance price is, so make sure you’re keeping an eye on it.
Car insurance can be confusing, but remember to talk to your insurance agent if you have any more questions. If you’re ever in an accident and need repairs on your vehicle, we hope you come by Leith Chrysler Jeep Raleigh, where our skilled technicians will get your car back in top shape. They work on Jeeps and Chryslers every day – no one knows them better.
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