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Like a teenager eager to try a new video game,
playing before reading the rules, many drivers buy insurance without
really understanding what they're buying.
In the rush to feel “covered, they can skip the details. That
can lead to frustration.
Following are five insurance myths heard by some of the more than
13,000 claims people at Progressive, one of the country's largest
auto insurance companies:
Myth: I bought full coverage so everything is
paid for.
Reality: There is no such thing as full coverage.
In most states, only liability insurance is mandatory. There are
a lot of other coverage options out there, so select what you need
and can afford based on your personal situation.
Myth: I need three estimates before my wrecked
vehicle can be repaired.
Reality: Not necessarily. Very few insurers actually
require this, although some might. If you decide to use a shop that's
in an insurance company network of pre-approved shops you may
just have to get an estimate from that shop.
Myth: My insurance premium always increases if
I'm involved in an accident.
Reality: It depends. Your rate can increase,
decrease or stay the same. The information about your accident is
combined with other information about you, your car and your driving
history to determine your rate.
Myth: If I lend my car to someone and he/she
crashes it, I'm covered.
Reality: Not so fast. If you or your friend don't
have optional physical damage coverages, damage to your vehicle generally
won't be covered.
Myth: If I buy a new car, my auto insurance company
automatically knows; and my new car is covered.
Reality: No. Most insurance companies require
that you notify them or your agent within a specified number of days.
Generally, you have 30 days to add the new vehicle to your policy.
Insurance can be complicated, says Paul LoNigro of GIA Risk Managerment.
it's not something people deal with every day. So the more informed
you are, the better choices you make.
To learn more, contact GIA Risk Management. LLC. at 303-423-0162 ext. 100 .
Group Insurance Analysts, Inc, and GIA Risk Management, LLC offer the following types of insurance - Health, Life, Auto, Home, Dental, Medicare, Business, Workers Comp, Pet, Disability, Liability and Property, through insurance companies like Progressive Insurance, Safeco, Travelers, Hartford, Anthem, Aetna, Delta Dental, Cigna, Kaiser, Humana, RMHP, UHC, Kaiser Permenente,Blue Cross & Blue Shield of Colorado, Pacific Specialty, United Fire, Pinnacol and many more.
We provide clients insurance needs in Arvada, Denver, Wheat Ridge, Lakewood, Golden, Boulder, Broomfield, Westminster, Brighton, Aurora, Littleton, Englewood, Parker, Northglenn, Thornton, Longmont, Louisville, Lafayette, Superior, Evergreen, Morrison and throughout Colorado.
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