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Jun 16

Five biggest myths about auto insurance

Posted By Tracy Snider

Myth 1:  Red cars cost more to insure

There is no data to support that owners of red cars drive more aggressively and get more speeding tickets than non-red car owners.

Myth 2:  Older drivers pay more for car insurance

In fact, it is often just the opposite - life insurance goes up with age, but not necessarily auto insurance.

Reference:  NBC News

Myth 3: Your insurance policy covers any damage to your car

It doesn’t work that way. Liability insurance (required in some state) covers you if you hurt someone or damage their property. Comprehensive and collision coverage protect your vehicle. That is why this is always optional coverage. Note: It may be required by the lender if you have a lease or car loan.