Car Insurance Myth – You will deal with a ton of information when you try to get a car insurance. It is important that you know the facts and you learn about the myths about auto insurance. Here are some of the most common debunked car insurance myths:
Myth: It will cost you more to insure a red car
Matter of fact: The red car will not give you higher insurance premiums compared to greens, blues, or blacks. Surprisingly, about one fourth of car owners on the road.
The insurance company will not even ask for the color of your ride when they compute for the car insurance quote. They will need the make, year, model, engine size, age, and body type of your vehicle.
Myth: Thieves go for new cars
It is the other way around. Thieves actually go for older cars according to statistics. It is a matter of fact that 1990’s cars are the most stolen vehicles in the past two years. The older cars are practically easier to steal. There is also a huge market for old auto parts.
Myth: My car insurance policy will pay for my stolen, vandalized, or damaged by fire or hail car
This can be true if you have a comprehensive coverage. In most countries, you are only required to get a liability coverage which is to cover for the expenses incurred because of damages you cause to others.
Remember that you need a comprehensive plus a collision insurance to make sure you re well covered. Of course, always read the small fonts on your contract to make sure.
Myth: Sports cars will cost you higher premiums because you are more prone to speeding tickets
This is not necessarily true. Statistics show that SUV drivers, station wagon drivers, and some not so sporty car models end up on the top of the list for most traffic citations.
On the other hand, sports car owners end up on the well-behaved list of the study. It will be your own driving history that will matter to the insurance company and not really these statistics. If I were you, drive nice and keep that record clean.