Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

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4 Little Known Facts about Car Insurance You Should Know

Although every motorist is required to purchase an auto insurance policy, it seems that very few fully understand the ins and outs of the car insurance sector. For residents of Rio Rancho, NM, the following is 4 little-known facts about car insurance you should know.

Lost/Stolen Items

While many policies will provide at least some form of financial compensation if your vehicle is stolen, this does not apply to the belongings you keep in your vehicle. No matter how much the items are worth, if your car is stolen, you will likely take a loss on any belongings that were left in the vehicle.

Occupation Matters

On another note, you may not realize this but your job can also impact your car insurance premiums. For instance, teachers are considered to be lower risk than many other professions, so they are often afforded a discount.

Credit Scores

On the other hand, your credit score can also affect the cost of the premium. Since studies have shown that there is a link between your credit score and the likelihood that you will file a claim, your premium is likely to be more if you have a lower credit score.

Low-Risk Vehicles

Furthermore, low-risk vehicles can earn you lower premiums. For instance, vehicles that have good safety equipment or are less likely to be stolen will often have lower premiums.

For help with your car insurance questions, contact Franklin Insurance Agency. A premier insurance company located in Rio Rancho, NM, contact Franklin Insurance Agency today to find out how you can get your car insured and hopefully save some money in the process.