If you’re in the market for an auto insurance policy, one phrase comes to mind: "buyers beware." Although it seems fairly cut and dry, there are quite a few things to consider before purchasing an auto insurance policy. That said, the following is an overview of 3 of the top auto insurance myths you should stop believing ASAP.

If Your Car is Totaled Your Insurance Company Will Pay It Off

While many believe this to be true, insurance companies actually offer fair market value, which is drastically different from the value of the car. Therefore, for those who total a newer car, you may still be on the hook with regards to paying at least part of that loan.

Your Credit Doesn’t Affect Your Premium

While many believe your credit rating has no bearing on your insurance premiums, this is also false. In fact, most states allow insurance companies to access this information as a means of making their decision. 

Your Premiums Will Get Higher with Age

While many think a loss of mobility and other things that come with age are a good reason for rising premiums, the opposite is true. Given that older drivers are often more settled and experienced than younger ones, those over 55 years of age typically enjoy significantly reduced premiums and other perks. 

Overall, let The Owens Agency, LLC be your new insurance choice. Hailing out of Waldron, AR, we offer highly qualified staff, competitive rates, quick quotes, and much more. So, if you live or work in the Waldron, AR area, stop by The Owens Agency, LLC to find out how you can start your policy immediately and feel that sense of security.