Motor Insurance Myths You Should Be Aware Of

When buying insurance of any kind it is important to be aware of the many different myths that can be going around amongst the people. Be it life coverage or motor coverage it is important that you can differentiate the facts from these myths and make a wise decision based on only the facts and figures. And not be misled by any of the myths. Because this lack of understanding that comes with having the two mixed up in your head can lead to the making of bad decisions, which will affect you financial interest and the type of policy that you will be choosing. And it definitely leads to more stress than you anticipated when you thought of buying yourself an insurance cover. 

The Myths Explained For You

The first one that you should be aware of is the once that says you don’t need a motor assurance cover if you are driving an old vehicle. Doesn’t matter if you are planning on getting a cheap truck insurance Australia for your age old truck that is about to breathe its last very soon. It is a must that whatever the type of vehicle you are driving you should have it insured. And also remember that old vehicles are more likely to be stolen because of the demand for their parts. So keep this mind next time you think your run down vehicle doesn’t require an assurance cover.

The other thing most people hear often is that an insurance cover for your vehicle will cover only the accidents where the owner is not at fault. If you ask heavy vehicle insurance brokers they will tell you that this is definitely not the case. If you have a valid driving license and your vehicle is insured then whatever the accident, however big or small the damage, and whoever’s fault it is it doesn’t matter. You coverage agent will cover the cost for the repairing of the vehicle. You must also remember that most people opt for third party assurance if their vehicle is an old one. But this is not really a wise idea. Because third party coverage will cover only damages to a third party, and not your own vehicle. So it’s always better to decide the assurance type based on the condition of your vehicle rather than the age of your vehicle. You must also be aware of the various laws that surround motor coverage and how they should operate. Because this can play a significant role in how it all pans out.

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