Car Insurance Myths

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5 Common Myths About Car Insurance

When purchasing your car insurance, you are probably already have a few things in your head about how insurance companies work and the things that affect your car insurance. How do you differentiate what the truth is and what is fiction in the world of car insurance? There are a few false beliefs out there that discourage the purchase of cars and car insurance and their relationship with each other. Here are a few myths that you should take into consideration. You’ll be surprised to find which ones are real and which are fictional.

- Sports car can affect your insurance rate. You’ve probably heard this one before. Even though insurance carriers take into account the car’s year make and model, they tend to look at the car’s history and the owner’s driving history too. Having a high performance car or a sports car is taking into consideration but information such a clean driving record can offset such information. Statistics also show that the drivers of expensive sports cars are usually careful with their driving because of the higher cost to repair the vehicle.

- The color of your car affects your insurance rate. This is one of the more famous myths out there. Most drivers out there believe that the color of your car, or specifically the color red, is harder to insure because cars with that color get into more accidents. Although this statistic is true and companies look at such statistics, the color of your car cannot affect your insurance rating. Your driving history and the brand or type of your car is the significant statistic that insurance companies look at. –more