Top Insurance Myths Busted
Doug Stockman • February 10, 2025
Ready to debunk some myths that are floating around
Top 10 Insurance Myths Busted (by Yours Truly, Your Local Insurance Agent)
Hey folks! Ready to debunk some myths that are floating around out there like rogue shopping carts in a hurricane. I hear it all the time – whispers in the grocery store, hushed tones at the PTA meeting. "Did you know…?" Nine times out of ten, "Did you know…?" is followed by something wildly inaccurate about insurance. So, let's grab our myth-busting ray guns and get to work!
1. Red Cars = Higher Insurance Rates: Seriously?
Do you think insurance companies employ colorblind squirrels to set rates? The color of your car has absolutely nothing to do with your premiums. It's all about your driving record, the type of car (sports car vs. sensible sedan), and where you live. So, go ahead, rock that cherry red convertible. Just drive safely, okay?
2. "Full Coverage" Means I'm Covered for EVERYTHING:
Ah, "full coverage." It's a catchy phrase, isn't it? But it's also a bit of a misnomer. "Full coverage" usually refers to a combination of liability, collision, and comprehensive coverage. It doesn't mean you're covered if your pet hamster spontaneously combusts in your car (yes, I've heard it all). Read your policy, people! Know what you're actually paying for.
3. My Home Insurance Covers EVERYTHING in My Home:
See Myth #2 but replace "car" with "home." Your standard homeowner's policy is great for things like fire, theft, and some weather-related damage. But it probably won't cover your prized collection of antique thimbles if they're damaged by a rogue poltergeist. (Again, I've heard it all.) There are specific riders and endorsements for certain valuables, so chat with your agent.
4. Filing a Claim Will Automatically Jack Up My Rates:
Not necessarily. One small claim might not affect your rates too much. It's the frequency of claims that raises red flags. Think of it like this: one fender bender is a "whoops," three fender benders are a "pattern." Insurance companies don't like patterns.
5. Renters Don't Need Insurance:
Oh, renters, renters, renters. This one makes me cringe. Just because you don't own the building doesn't mean you don't own stuff. Your landlord's insurance covers the structure, but it doesn't cover your personal belongings. A good renter's policy is surprisingly affordable and can save you from financial ruin if your apartment catches fire, gets burgled, or, you know, invaded by those thimble-loving poltergeists.
6. Older Homes Are Always More Expensive to Insure:
Not always! Sure, some older homes might have outdated wiring or plumbing, but many have been renovated and are perfectly safe. Insurance companies look at the condition of the home, not just its age.
7. I Don't Need Flood Insurance - I Don't Live Near Water:
Newsflash: floods can happen anywhere. Even if you live miles from the coast, heavy rain can cause flash flooding. Standard homeowner's insurance doesn't cover flood damage. You'll need a separate flood insurance policy.
8. My Credit Score Doesn't Affect My Insurance Rates:
Wrong! In most states, insurance companies use credit-based insurance scores to help predict the likelihood of you filing a claim. So, keep those credit scores high, folks!
9. If I Total My Car, I'll Get What I Paid For It:
Nope. You'll get the current market value of your car, which might be less than what you paid for it, especially if it's been owned a few years. Also, if your loan amount is more than the value of your car this is where "gap insurance" comes in. It covers the difference between what you owe on your loan and what the insurance company pays out.
10. Insurance Agents Are All Sleazy and Just Want Your Money:
Okay, okay, some of us might be a little… enthusiastic. But most of us genuinely care about protecting our clients. We want you to have the right coverage at the right price. So, don't be afraid to ask questions. That's what we're here for!
So, there you have it – ten insurance myths, thoroughly busted. Now go forth and be informed! And as always, if you have any questions, give your friendly neighborhood insurance agent a call. (That's me!)
Alright, buckle up buttercups, because we're about to dive into the thrilling world of... drumroll please... comparing car insurance! I know, I know, hold your applause. It's not exactly skydiving with a unicorn, but trust me, it's way less likely to result in a hospital bill (unless you faint from the sheer excitement of saving money). Looking forward to all those calls with several agents to compare car insurance quotes? Rest easy, help is here. Let's be honest, "compare car insurance" sounds about as fun as folding fitted sheets. It conjures images of endless online forms, confusing jargon, and the nagging suspicion that you're about to get bamboozled into buying coverage for alien abduction (which, let's face it, is probably not in your standard policy). Not to mention all the agents trying to you would have to speak with to get many quotes to compare. But here's the comedic plot twist: not comparing your car insurance is actually way more painful. Think of it like sticking with that ancient flip phone because "it still makes calls." Sure, it works, but you're missing out on a whole universe of sleek features, better deals, and the ability to finally understand what your friends are laughing about in the group chat. So, why should you, the magnificent driver of your trusty (or slightly rusty) vehicle, brave the wilds of comparison? Breathe easy, it doesn't take several calls or several online forms, just give Select Source a call. We will do all the comparison shopping for you. The "Wait, I'm Overpaying?!" Revelation: Imagine that glorious moment when you realize you've been shelling out more dough than a bakery for the exact same coverage your neighbor Mildred got for the price of a slightly used garden gnome. The savings can be surprisingly significant, enough to fund that weekend getaway you've been dreaming of (minus the questionable roadside diner stops, hopefully). Unearthing Hidden Gems (aka Better Coverage): Sometimes, comparing isn't just about price. It's like sifting through a thrift store and finding that vintage leather jacket that fits you perfectly and makes you look effortlessly cool. You might discover a policy with better roadside assistance (because who hasn't had a flat tire at the most inconvenient time?), lower deductibles, or even coverage for that rogue squirrel that keeps trying to claim your engine as its winter palace. Avoiding the "Oops, I'm Not Covered for That" Catastrophe: Life throws curveballs, sometimes literally (watch out for those errant baseballs!). Comparing policies helps you understand exactly what you're protected against. Do you need rental car reimbursement? What about uninsured/underinsured motorist coverage? Don't wait until disaster strikes to realize your policy is as helpful as a chocolate teapot in a hailstorm. The Takeaway (and the Punchline): Comparing car insurance doesn't have to be a soul-crushing chore. Think of it as a mini adventure, a quest for savings and better protection. And who knows, you might even find a company with a mascot that makes you chuckle. So, ditch the insurance inertia. Embrace the power of comparison. Your wallet (and your sanity) will thank you. And hey, if you get overwhelmed, that's what your friendly, independent insurance agency (that's us!) is here for. So, instead of having to deal with a bunch of producers calling and not knowing which is spam, we will get several quotes for you with just one private phone call or fill out our online quote request form. We'll help you navigate the maze without needing a map, a compass, or a therapy llama. Now go forth and compare! Your inner bargain hunter awaits! Call 864-585-8318.
Alright, let's dive into the age-old question that's probably kept you up at night, right after "Did I leave the stove on?" and "What is the deal with airplane food?": Which car insurance company reigns supreme? Now, if you were expecting a definitive answer, a shiny gold medal draped across the metaphorical shoulders of one single insurer, well, grab a lukewarm cup of coffee and settle in. The truth, my friends, is about as straightforward as trying to parallel park on a busy Saturday. The "Best" is a Moving Target. You see, declaring one car insurance company the absolute "best" is like saying there's one single "best" ice cream flavor. Have you ever tried to choose a flavor at Baskin and Robbins? Sure, vanilla's a classic, but what about the die-hard chocolate chunk aficionados or my favorite, Pralines and Cream? Or the adventurous pistachio lovers? Everyone's got their own taste, and the same goes for insurance needs. What's perfect for your neighbor with a squeaky-clean driving record, a sensible sedan, and a garage that's actually used for parking might be a total mismatch for you, the proud owner of a jacked up truck who occasionally navigates unpaved backroads (and might have a lead foot – no judgment). So, if there's no single "best," what's a responsible driver to do? That's where the magic of an independent insurance agency comes in, and yes, that's us! We're not tied to any single insurance carrier. We're like your Instacart for personal insurance shopping, sifting through a variety of options to find the perfect fit for your unique situation. Think of it this way: those big-name insurance companies you see plastered all over TV? They're like department stores. They have a lot of options, but the salespeople are only pushing their own brand. We, on the other hand, are like your local boutique – we handpick from a curated selection of different, competitive and national insurers, focusing on finding the one that truly complements your style (read: driving habits and insurance needs). What We Consider (and What You Should Too): When we're on the hunt for the "best" insurance for you, here are some of the factors we weigh: Coverage Options: Does the policy offer the protection you need? We're talking beyond the basics of liability and uninsured protection. What about collision, comprehensive, underinsured motorist, roadside assistance or even car rental reimbursement? Do they have those extra bells and whistles you might want, like accident forgiveness, new car replacement, trip interruption or customization coverage? Price (of course!): While the cheapest isn't always the best, we understand that budget matters. We'll compare quotes from multiple reputable, well known, financially sound companies to find competitive rates without sacrificing essential coverage. Discounts: Who doesn't love saving money? We'll explore all the potential discounts you might qualify for, from good driver discounts to multi-car or home and auto bundles. Financial Stability: You want an insurance company that will be there when you need them. We look at their financial ratings to ensure they're stable and reliable. Customer Service and Claims Handling: This is where the rubber meets the road (pun intended!). How easy is it to get in touch with them? What's their reputation for handling claims efficiently and fairly? We pay attention to these details because we know how stressful a claim can be. Our "Best" Advice? Talk to Us! We are constantly on the search for the most competitive companies, sound and customer service driven companies. Instead of endlessly scrolling through comparison websites and getting lost in a sea of jargon, or filling out some online form that sells your info to 30 different agents, why not let us do the heavy lifting? If you fill out one of those unknown insurance marketing website forms, watch out! They can sell your information to insurance companies all over the country. Some insured's have had to change their phone number because of so many calls because the calls don't stop. We'll take the time to understand your individual needs, your driving habits, your vehicle, any youthful drivers and your budget. Your information stays private with us. We do not sell your information. You have one point of contact but get rated by many national competing companies. Then, we'll present you with tailored options from a variety of trusted insurance companies. Once you become our customer (look at our 5 Star Google Reviews) if you ever become unhappy with the company, we place you with (all companies eventually raise rates), we can place you with another competitive company that is available with the best rates in the current market. Think of us as your insurance matchmakers. We're here to connect you with the policy that offers the best coverage, the right price, and the peace of mind you deserve. So, is there one single "best" car insurance company? Probably not. But is there a best car insurance company for you? Absolutely. And we're here to help you find it. Give us a call today – let's ditch the guesswork and get you properly protected. 864-585-8318
Alright, folks, settle in for a crash course (pun intended!) on the fascinating, slightly bewildering world of car insurance. Yes, I know, it's about as thrilling as watching paint dry, but trust me, understanding how it works can save you from a world of headaches and wallet-emptying woes. Here at Select Source Insurance, we're here to break it down, with a dash of humor to keep you from falling asleep. Car Insurance: It's Not Just a Piece of Paper (Though It Feels Like It Sometimes) Imagine car insurance as a safety net for your four-wheeled friend. When things go sideways (literally or figuratively), it's there to catch you, or at least cushion the financial blow. But how does this magical safety net actually work? The Basics, Explained (With Minimal Jargon): You Pay, They (Hopefully) Pay: You pay a premium (think of it as a monthly subscription to "avoid financial ruin"), and in exchange, your insurance company agrees to cover certain losses if you have an accident, your car gets stolen, or a rogue squirrel decides to use your windshield as a trampoline. Coverage: It's Like a Menu, But Less Delicious: Car insurance policies come with different types of coverage, each designed to protect you in specific situations. Liability Coverage: This is the "oops, I hit someone else" coverage. It pays for their injuries and property damage (up to your policy limits) if you're at fault in an accident. It's like saying, "Sorry about that, let my insurance handle it." Collision Coverage: This covers damage to your own car if you hit something (another car, a tree, a particularly stubborn mailbox). It's like a band-aid for your car's boo-boos. Comprehensive Coverage: This covers damage to your car from things other than collisions, like theft, vandalism, hail, or a herd of stampeding llamas. It's helps with damage other than collisions with limitations. Uninsured/Underinsured Motorist Coverage: This protects you if you're hit by someone who doesn't have insurance or doesn't have enough. It's like having a backup plan for the backup plan. Deductibles: Your Share of the Pie (or Wrecked Bumper): A deductible is the amount you pay out of pocket before your insurance kicks in. It's like a co-pay at the doctor's office, but for your car. The higher your deductible, the lower your premium, but make sure you can actually afford it if you need to file a claim. Claims: The "Please Don't Make Me Cry" Part: When you have an accident, you file a claim with your insurance company. They investigate, assess the damage, and (hopefully) pay for the repairs or replacement. It's like a detective story, but with less dramatic music and more paperwork. Why It's Important to Have a Good Insurance Agent (Like Us!): We Speak Insurance-ese: We can translate the confusing jargon into plain English, so you actually understand what you're paying for. We Shop Around for You: As an independent agency, we work with multiple carriers, so we can find you the best rates and coverage for your needs. We're like your personal insurance shoppers. We're Here When You Need Us: When you have a claim, we'll be there to guide you through the process and make sure you get the help you need. We're like your insurance therapists, but with better advice. We can help you avoid the "I tried to parallel park my boat" situation: Yes, that was a real claim. The Moral of the Story: Car insurance is a necessary evil, but it doesn't have to be a confusing one. At Select Source Insurance in Spartanburg, we're here to make it as painless as possible. So, if you have any questions, don't hesitate to give us a call. We're always happy to help, and we promise to keep the insurance jokes to a minimum (mostly). 864-585-8318 or get a quote at Auto Insurance Quote