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This Newsletter Brought to You By  Columbine Ltd Insurance

* We Have Answers To Common Personal Insurance Questions.

Recently, a survey was given to people who purchase personal insurance and the results were very interesting. The survey concluded that most people may not fully understand how insurance works. Some of these misunderstandings can lead to improper coverage and even uninsured losses.  Let’s review some of the personal insurance misconceptions.

Personal Insurance MisconceptionsOne major auto accident will cause my insurer to cancel my policy.

• 44% of people think this is true; however there are state laws that prevent insurers from cancelling auto insurance policies midterm.

Auto thieves like newer cars.

• 58% of men thought this to be true, but older cars are more valued due to the aftermarket for parts.

If I get a ticket out of state it won’t show up on my driving record.

• 13% of people believe this. The fact is tickets will follow you.

Red cars cost more to insure.

• 46% of people believe this. The color of your car does not affect your auto insurance premiums.

My home values should be based on the real estate market value.

• 52% of people believe this. We always recommend you buy home insurance based on the value to rebuild your home with like kind and quality of materials. This is called replacement cost.