Five Common Myths About Car Insurance

Five Common Myths About Car Insurance

Does driving a red car mean you pay more for insurance?  Does your auto insurance cover valuables stolen from your car?  These are some questions that many drivers don't know the answers to, according to a survey conducted by Princeton Survey Research Associates International.

Myth 1 -Your car isn't covered if the accident is your fault.  Collision insurance covers the vehicle of the insured regardless who's at fault for an accident.  However, if you only carry minimum liability insurance, your insurance only covers damage to the other vehicle.

Myth 2 - Red cars cost more to insure.  The color of your car has absolutely no effect on your insurance rates, but the make and model do.

Myth 3 -Auto insurance covers valuables stolen from your car.  Auto insurance typically does not cover those valuables.  Homeowners or renters insurance both cover personal property stolen from your your car.

Myth 4 -Where you live doesn't affect your insurance costs.  When it comes to insurance, location does matter.  Accident and vehicle crime in your neighborhood can impact premiums.

Myth 5 - Your insurance coverage includes coverage for mechanical repairs.  Vehicle wear and tear are not covered by auto insurance.


Margaret Laurano Headshot
Author:
Phone: 201-859-6323
Dated: January 7th 2016
Views: 363
About Margaret: Margaret has over 30 years of experience with a background in commercial real estate which gives her...

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