There are a number of myths surrounding car insurance and this usually prevents a lot of people from shooting for their claims. Do you know what factors really affect your auto insurance rates? Is it the colour of your car?
The problem with these car insurance myths is how much money they can cost you in the long run. Here are a number of car insurance myths that cost you more and which you should stop believing.
Red cars are Expensive To Insure
One of the most popular car insurance myths is that red cars are more expensive to insure. The truth however is that nobody asks for the colour of the car when you’re getting a quote.
The make, model and year of your vehicle, as well as your claims history, will affect your insurance rates-not the colour.
Loyalty To An Insurance Company Means You Pay Less Over Time
When it comes to car insurance, it’s always in your best interest to look for an insurance company that offers the best deals. Sometimes you can save up to half of what you’re paying by changing your insurance providers.
A number of companies target different demographics, so if you’re 55 and over, you can save more by getting your car insured from a company that caters to your age group.
The More Expensive It Is, The Higher The Coverage
When you compare car insurance plans, you will most likely notice huge differences. Most times, price difference reflects how the insurance companies are structured, and has little or nothing to do with the amount of coverage you will receive.
Some companies work with brokers, so they have to pay commission. Others work through contact centres so they have to take into their policies the cost to cover the contact centers and this will usually reflect in the amount you pay for the insurance covers.