5 Myths and Truths about Insurance in the USA

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5 Myths and Truths about Insurance in the USA

Have you ever noticed that there are often established “facts” about certain matters that no one even tries to question? Like beliefs and superstitions, we absorb this information and simply reproduce it without blinking an eye.

“Milk with mango is bad”, “you can’t go into the pool after eating”, “if the slipper is turned to the floor your mother can die”, “sleeping with wet hair is a flu”, “if you say beetle juice 3x he appears”…

Between truths and myths, these are just some of the phrases we believe and take to life. But they are quite innocent, it’s true! And they won’t impact your daily life if you suddenly go looking for the truths behind each one.

With insurance things don’t work the same way. We’ve said it before, but it bears repeating: BRZ is betting that information is its greatest ally in the search for autonomy and success in your life in the United States. That’s why we bring you a list of myths and truths about insurance here in Uncle Sam’s land:

Myths And Truths About Insurance

1. Home insurance only covers fire and lightning

Home insurance only covers fire and lightning

MYTH

Homeowners Insurance , also called Homeowners Insurance , is and can be much more comprehensive than just protecting your home from lightning and fire. In a homeowner policy you can find coverage for:

  • Fire
  • Rays
  • domestic explosions
  • Wind
  • civil commotion
  • Smoke
  • Hail
  • vehicle collision
  • aircraft crashes
  • Volcanic eruption
  • Vandalism
  • Intentionally caused damage
  • Explosion
  • riots
  • Theft

It all depends on the toppings you choose. You can even purchase specific policies for floods and earthquakes, if you live in risky areas, if that’s your case, seriously think about these coverages.

Should you purchase Flood Insurance?

Protection against the events listed above can also be part of your renters insurance and condo insurance policy , which is specific insurance for apartments.

2. Car insurance is cheaper for women

Car insurance is cheaper for women

TRUTH

The amount you will pay for your car insurance is impacted by a number of factors, some are based on personal statistics and others on general statistics. Women, contrary to some tasteless jokes spread in our culture, tend to be involved in fewer accidents, have fewer accidents while driving under the influence of some kind of drug, and most importantly, have fewer serious accidents than men.

So it’s true, all things being equal, women tend to pay around 15% cheaper for auto insurance than men.

3. Life insurance is expensive and can only be used in the event of death.

Life insurance is expensive and can only be used in the event of death.

MYTH

You can find life insurance in the most varied values. Insurers offer a variety of plans and values ​​in order to meet the needs of each customer profile.

In general, it will cost you less than a dinner (or a night out) a month and can guarantee your safety in the event of a crippling illness, an injury that will take you months and many dollars to recover from, or even to secure a funeral without wiping out the savings of whoever is with you.

Of course, no one wants to think about these things, but preparing for the worst and protecting you from dangerous situations is what insurance does best. Don’t wait until it’s too late!

4. The value of car insurance depends on several factors

TRUTH

It’s not just the driver’s driving history that interferes with the final insurance value. That’s why you can’t compare your car insurance with your friend’s , for example. Some factors considered are:

  • Your driving history
  • What activities do you use your car for?
  • Where do you live, where do you work, places you go
  • Your age
  • your gender
  • the car you drive

Other variables include probability of theft, cost of repairs, area medical costs. The variables are many.

5. Insurers’ prices are similar.

MYTH

There are many insurers on the market, each with different objectives, target audience, specialty and way of acting. Can you imagine that the prices will still be similar? Of course.

TRUTH!!! But this you already knew! 😉

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