Insurance Myths Busted: Separating Fact from Fiction with Franke Insurance Services
Insurance plays a crucial role in mitigating risks and protecting people from financial losses. However, many misconceptions surround different types of insurance policies, leading to confusion and potential lack of coverage when needed. At Franke Insurance Services, we believe in empowering our clients with accurate information to make informed decisions. Here, we debunk some common insurance myths, separating fact from fiction.
Myth #1: “Renter’s insurance is unnecessary if I have a good relationship with my landlord.”
Fact: While a good landlord-tenant relationship can be invaluable, it doesn’t protect your personal belongings within the rented apartment. Renter’s insurance provides essential coverage for your furniture, appliances, clothes, and other valuables from incidents like fire, theft, and vandalism.
Myth #2: “Car insurance premiums always increase after filing a claim.”
Fact: Not necessarily. While filing a claim can impact your premium, several factors are considered by insurance companies, including your driving history, claim severity, and the specific circumstances. Additionally, companies have different approaches towards claim history, some only considering major accident claims or only within a specific duration.
Myth #3: “Life insurance is only for older people or families with young children.”
Fact: Life insurance is beneficial for people regardless of age or family situations. It provides financial protection for beneficiaries, covering final expenses and providing ongoing financial support after your departure. This can be crucial even for single individuals with outstanding mortgages, student loans, or other liabilities.
Myth #4: “My auto insurance covers me when driving any car.”
Fact: Typically, your personal auto insurance covers you while driving your own car or other vehicles listed on your policy. However, coverage for borrowed or rental vehicles varies depending on the insurance company and policy details. It’s crucial to check your specific auto insurance policy or reach out to your Franke Insurance agent for accurate information.
Myth #5: “Insurance claims are a long and tedious process.”
Fact: While navigating the claims process can seem overwhelming, experienced insurance agents like ours at Franke Insurance Services can make it much smoother. We assist throughout the process, ensuring timely communication between you and the insurance company, gathering documentation, and advocating for a fair settlement.
At Franke Insurance Services, we are committed to providing our clients with comprehensive protection and expert guidance. Don’t hesitate to reach out to our expert team for personalized consultation and help in choosing your insurance plans. Trust us to dispel any insurance myths and ensure you have the right coverage when you need it most.