If you want to operate a vehicle, then you must carry insurance. Since it’s a required expense, you need to make sure you’re getting a good deal with a reliable car insurance company. The only way to get a good deal is to make sure you’re well-informed on car insurance facts. According to Forbes, the national average cost for car insurance is $1,601 annually, and there are a lot of factors that impact this number. However, there are many car insurance myths that people often believe, and this misinformation can hurt you. Let’s bust a few of these myths right now!
1. Paint Color Determines the Price of Insurance
This is a long-standing car insurance myth that many people believe. There is an idea that certain colors of cars are more susceptible to accidents than other colors, so insurance companies will charge higher premiums for the riskier colors. The truth is that your car insurance premiums are based on many factors, but color isn’t one of them. Our insurance experts have found that the make, model, body type, engine size, and age of the vehicle are determining factors.
2. Insurance Costs More for Older People
This myth persists because as people become elderly, they sometimes have a more difficult time driving safely. That doesn’t necessarily mean your insurance will automatically go up when you age, though. The biggest factor that determines your premiums is your driving history. So, even if you’re older, your premiums should stay reasonable if you still have a driving record that shows you’re a safe driver
3. Your Credit Doesn’t Affect Your Insurance
This is actually not the case. Your insurance premiums are an expense you’ll be responsible for paying, so the insurance companies will check your credit score to see how you do with making payments on time. If you have a lower credit score, you might see a higher premium.
4. Your Insurance Will Cover Any Damage That Happens
This is a tricky one because there is some truth here. If you have comprehensive insurance, your policy will cover any damage. However, this isn’t the case if you have only liability insurance. The policy will only pay for damage that your vehicle causes to another vehicle.
Now that you’re better informed on car insurance, you can approach any car insurance company with confidence. If you’d like to learn more about car insurance, or you’re looking for a new car insurance company, please contact Mardini Multi-Services Inc today. We promise little to no wait times with friendly and knowledgeable staff!
