Many people believe misconceptions about insurance, which can lead to poor coverage decisions. Let’s clear up some of the most common myths:
Myth 1: Red cars cost more to insure.
Fact: Insurance companies base rates on driving history, car make, and model—not color.
Myth 2: Home insurance covers all disasters.
Fact: Some events like floods and earthquakes require separate policies.
Myth 3: Minimum car insurance is enough.
Fact: Minimum coverage may not fully protect you in case of a serious accident.
Myth 4: Life insurance is only for older people.
Fact: The younger you are, the cheaper your life insurance premium will be.
Myth 5: Health insurance covers everything.
Fact: Policies vary; always check deductibles, copays, and exclusions.
Understanding the truth about insurance helps you make smarter decisions and get the best coverage for your needs.
