Fact vs. Fiction: Uncovering 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. That can lead to frustration.
Following are five insurance myths discovered from claims filed here in North Carolina, Robeson County, Cumberland County, Bladen County, Hoke County, Fayetteville, Red Springs, Maxton, Pembroke, St. Pauls, Lumberton:

Myth: I bought full coverage so everything's paid for.
Reality: There is no such thing as full coverage. In most states, 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. At Miday, we strive to offer the best insurance in the Carolinas, because we want to consider the customer's level of risk, at their price point, in the insurance equation.

Myth: 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.  And being a local agent that is near to you, we are sure you can find a body shop that will repair your auto to your satisfaction.

Myth: My insurance premium always increases if I'm involved in an accident.
Reality: It depends. Your rate can increase, decrease or stay the same. The information about your accident is combined with other information about you, your car and your driving history to determine your rate. Here at Miday Insurance Agency, we can offer options amoung insurance products ranging from the cheapest insurance, at bargain prices, that carry many discounts and coverage types, to more comprehensive plans with broad coverage for personal auto, commercial auto, and business risk.

Myth: If I lend my car to someone and he/she crashes it, I’m covered.
Reality: Not so fast. If you or your friend don't have optional physical damage coverages, damage to your vehicle generally won't be covered. That's why it important to have experienced professionals who can explain the types of coverages you ask for and for your unique situations.

Myth: 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.
Insurance can be complicated.. It's not something people deal with every day. So the more informed you are, the better choices you'll make.

To learn more or to quote your insurance, call: 910-843-9919, text: 910-843-9919, or email  Miday Ins Agency.

Link to Auto Insurance Buying Guide produced by the Department of Insurance