Greenup, Kentucky

Kentucky's Top Insurance Agency Dispels 4 Common Misconceptions About Insurance September 28, 2017

Greenup, Greenup
Kentucky's Top Insurance Agency Dispels 4 Common Misconceptions About Insurance, Greenup, Kentucky

When the unexpected occurs, insurance is often the only thing standing between you and financial ruin. Unfortunately, there are several common misconceptions about these policies, some of which could leave you without adequate coverage or result in overpaying on premiums. Meeting with an experienced insurance agency before purchasing a policy can help ensure you have the protection you need.

4 Common Insurance Misconceptions

1. Your Homeowner’s Insurance is Based on Market Value

If a disaster destroys your home, your policy will pay for damages up to a certain limit, based on either the full replacement cost or the current market value. While a policy based on what your house would sell for on the real estate market may pay off your mortgage, in most cases it won’t be enough to rebuild after a disaster.

2. Red Cars Cost More to Insure

insurance agency Insurance companies do factor in a wide range of variables to determine your likelihood of filing a claim, including the make and model of your vehicle and crime rates in your area. However, car color has no impact on your auto insurance premiums.

3. My Insurer Will Cancel My Policy After an Accident

Insurance policies are contracts that cover specific periods of time. If your insurer decides to drop you or raise your premiums after an accident, they will have to wait until your current policy expires. If you are in an accident, keep a close eye on your premiums the following enrollment cycle. 

4. Comprehensive Auto Insurance Covers Everything

While comprehensive insurance does cover a wide variety of situations, it doesn't cover collision with another car. Instead, it applies to damage from hailstorms, animals, theft, and vandalism, among other things. Your insurance agency will help determine how much comprehensive coverage you need.



Since 1958, the Harold D Miller Insurance Agency Inc. has been one of Kentucky’s most trusted agencies, offering a broad array of both commercial and individual policies. They pride themselves on taking an individualized approach to every client and working to match you with a policy tailored to your needs. See a sample of the plans they offer online or call (606) 473-6211 to request a quote from the Greenup office. To speak to an insurance agent in Ashland, call (606) 324-1295.

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