Page 9 - AAA Now! – AAA Akron Auto Club – Winter 2020

AAA
INSURANCE MATTERS
Fact or Fiction? AAA Busts Insurance Myths
When it comes to insurance coverage, don’t believe everything you hear. Knowing fact from fiction will help you choose the coverage that’s right for you.
My auto insurance policy includes coverage for both personal and business use.
FALSE. If you are self-employed and use your car for business travel – such as operating a delivery service or providing transportation through a ride-sharing service – your personal auto insurance policy might not cover you. A commercial auto insurance policy includes coverage for business purposes. You might also have the option to purchase a supplemental insurance product that extends coverage for ride-sharing.
The color of my car affects my auto insurance rate.
FALSE. Car color does not affect your insurance premium. However, other factors – including
a vehicle’s model, make, year and the driver’s experience and driving record – might impact auto insurance rates.
Loaning my car to someone also means loaning my car insurance.
TRUE. In most states, car insurance follows the vehicle. This means your insurance company could be responsible for damages caused by someone else if they’re driving your car. Policies and laws differ by state, so make sure you understand the rules of the road before letting a friend drive
your vehicle.
I don’t need renters insurance. My landlord has coverage.
FALSE. Your landlord’s insurance only covers the building, not your personal property inside of it. A separate renters insurance policy is required
to protect your personal belongs, as well as for protection against personal liability, such as a guest’s injury in your home.
My insurance policy acts as a product warranty.
FALSE. Your insurance policy is not a warranty.
If your roof wears out, for example, your insurance
policy will not cover repairs – unless a covered event damages it.
My homeowner’s insurance doesn’t have to cover my property’s full value.
TRUE. It’s only necessary to cover the replacement cost of your home – not your property’s land. Be aware that some mortgage companies may try to require new homeowners to purchase insurance for the entire loan amount, which might be more than the replacement cost.
For more information about auto, home, and other personal lines of insurance, please call 330-762-0631 or visit your Downtown AAA Akron Branch to speak with one of our agents.
WINTER STORMS. CHECK.
Get your insurance checkup today.
Go to AAA.com
Visit 100 Rosa Parks Drive, Akron, or call 330.762.0631
Insurance provided by CSAA Insurance Group, a AAA insurer. © 2019 CSAA Insurance Group A U T O | H O M E | L I F E
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WINTER 2020
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