Car insurance

Car Insurance Fiction

There are a lot of rumours out there about what can and cannot affect the rates on an insurance policy. Most of these are based on myth, yet are so commonly told that it’s generally accepted that they are true. So how can you tell between fact and fiction? Obviously it’s always best to go straight to the source. Ask your insurance company if what you’ve heard is true and they should be able to give you a straight answer.

Here are some of our favourite fictitious car insurance myths.

  1. The colour of a car affects the insurance rates. This idea most likely came about because many sport cars boast more vibrant colours. But that’s not the reason the rates are higher for those types of cars.
  2. Minimum car insurance coverage is enough. Unfortunately, minimum coverage will only cover a person’s vehicle while they’re driving and consists of just the standard coverage required by law. Comprehensive coverage, however, covers theft, vandalism and acts of God. Plus, it’s always better to opt for additional medical or loss-of-use coverage.
  3. New cars will automatically be added to an insurance policy. It is the responsibility of the owner and insurance policy holder to advise the insurance company of any vehicle or driver changes made to the policy to ensure up-to-date and adequate coverage.
  4. Males, under the age of 25, may pay higher insurance premiums. This myth actually has some truth to it. All insurance premiums are actuarial based, and using these figures statistics show that males under the age of 25 have a tendency to be more dangerous behind the wheel than drivers in other demographics. These rates can be adjusted on an individual basis, which is why it’s important for each driver to discuss their rates with their insurance agent or broker.

If you have questions about your insurance policy, we recommend you contact your insurance company directly, but please stop by our shop for all of your auto body needs!


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