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After you apply for an auto loan, and before you drive home in your next new or used car, you need to consider your car insurance. Unfortunately, insurance can be a complicated and confusing service, and it can be a run-around to get the best rate on the best insurance plan for your needs. So what is the biggest myth about car insurance? Find out below.
Many people think that any claim will raise your insurance premium. The fact of the matter is that this is a myth, and there is no proof that this is case. When you report an incident to your insurance company your rate might go up, but that report is far from the only component considered when calculating your insurance rate. Reporting a minor incident – especially when you were not at fault! – will almost never have any impact on your premium.
What does have an impact on your insurance premium are these factors:
Contact Green Light Auto Credit online now or call our team of financing experts at (800) 200-5551 for help with any questions about car insurance myths, or if you’re ready to find the right auto loan for your next car purchase. We want to make your auto purchase easy and affordable, so you have plenty of room in your budget for insurance for your used car!