3 Big Personal Insurance Myths

If you’re a first-time insurance shopper, then you are bound to find out that there are a lot of myths to weed through. Before you go out and purchase Bergen County insurance, here are three of those myths and the truth behind them.

Home Insurance Is Based on Market Value

Some people purchase home insurance based on market value. The truth is that you should purchase home insurance based on the home’s cost to construct. This means you buy a policy that covers the materials and labor, not the real estate value.

Small Cars Are Cheaper to Insure

The truth is that larger vehicles tend to be cheaper to insure. This is because inexperienced drivers generally have smaller vehicles. Due to this, smaller SUVs and minivans are cheaper.

Comprehensive Car Insurance Covers Everything

Comprehensive car insurance only covers a portion of problems that you might get into. For instance, it may include storm damage, animal collisions, vandalism and theft. However, your coverage may not cover everything.

Knowing what’s true and what isn’t about Bergen County insurance is crucial when you’re shopping for personal insurance. A lot of people buy into myths that cause them to spend too much money or that lead them to have a severe lack of coverage. When shopping for insurance, always look for a provider willing to clear up myths.