Guess Again: Four Common Misconceptions About Car Insurance

Car insurance is one of those things that you only think about when you need it. Since it’s often out of mind until a mishap happens, many people often have misconceptions about what it can and can’t do for them. Below are just some myths about auto insurance that need to be dispelled today.

My credit rating has nothing to do with my insurance rates

You already know that your credit rating plays a role in your mortgage rates, but did you know that it can also affect your car insurance policy? According to the Insurance Information Institute, your credit rating gives an indication of how well you manage your finances. The higher it is, the more likely that you will pay your premiums on time, and the more attractive options the rate insurers will give you. Read more from this article: http://bit.ly/2s5RG52

What Will Happen If You Don’t Have Home Insurance?

If you’re a homeowner, you’ve probably grumbled at least once about how much you’re paying for insurance. But have you ever wondered what the consequences might be if you didn’t have to get coverage for your home? While you might think that’s you’re better off skipping insurance altogether, there are serious ramifications when you skimp on home insurance.

You’ll violate the terms of your mortgage

If you check your home mortgage document, you’ll find a clause that clearly requires you to get home insurance. Violate this clause, and you may find yourself facing foreclosure. More likely, however, the lender will simply take out an insurance policy on your behalf and bill you for it. When this happens, you lose the chance to go through policy options and you won’t have a say on how much you should pay. Read more from this article: http://bit.ly/2rw7uAU