A lot of people fear the unknown. From concepts that look complicated to things that they don’t completely understand, these things could look intimidating for a lot of people. And for Filipinos, the concept of car insurance remains a grey area for them.

Driving without car insurance can be somewhat risky in the Philippines. Without any car insurance coverage, not only are you risking the probability of paying an absurd amount of money, but there is also the possibility of having legal problems. So what are the most common things that people usually don’t understand fully when it comes to car insurance policies? Here are six common misconceptions about car insurance policies that should be clarified from the start.

It is hard to understand

Does it take to be an expert in order to understand everything about car insurance? There are a lot of concepts that you can learn online. In fact, car insurance jargons are easy to learn. You can even clarify with the company things that are quite vague to you. Reading online about the car insurance basics can get you a good start.

Any type of car can be covered

This is not always the case. There are cars that can no longer be covered by car insurance companies. Why wouldn’t a car insurance company cover for a particular vehicle? If the car is too old and has depreciated in value, there is a probability that it can no longer be covered by car insurance.

Typically, vehicles older than 10 years old will no longer be covered by car insurance companies. Thus, if you are thinking of purchasing an older vehicle, you might as well check if it is still covered.

Car insurance is expensive

A lot of people think that car insurance is a pricey purchase. In reality, you can easily get affordable car insurance today. Given the number of competing car insurance companies in the Philippines, you can easily get the best car insurance rate if you know where to look. A bit of research can go a long way.

Getting in an accident can be a costly scenario. Depending on the extent of the damage, you may even have to deal with the replacement of major components of your vehicle.

Getting a quote takes a long time

Car insurance comparison has been made easy. To compare car insurance today, all you need to do is to use the internet. In just 5 minutes, you already have a quote directly into your email. What makes this a good thing is that you have online car insurance comparison websites that collect the best deals for you. All that you need to do is to sign up with the company of your choice.

Car insurance can be quite helpful for anyone using public roads. In fact, even if you parked your car, there are still some risks that you are willing to take without the right car insurance policy. Theft, as well as flooding problems, could occur at any given time. Knowing these worst-case scenarios, are you willing to take these risks without a car insurance policy?