Auto insurance has a lot of contradictions for people, don’t you agree? Let’s clear up a few myths that keep them in disarray. Learn more?
Myth 1: Red Cars are More Expensive to Insure As stated by a reader above “A brilliant red paint job (or is it cherry?) doesn’t make you any more susceptible to higher automobile insurance premiums than any other shade of white.” But truthfully speaking, from the point of view of insurance providers who really care to know about cars make, model, age as well as theft rates and last but not least your driving habits — they are completely irrelevant considerations. As far as they’re concerned the color is just superfluous ornamentation meant for show (and when we say “show,” we mean body “pornography” like this fine Italian beauty above): in other words, it makes no difference whatsoever if what you’re driving is a police interceptor or Nano-luxury vehicle.
Myth 2: Older Cars are Cheaper to Insure It could well be possible, yet it is not always the answer. Older cars might not have modern safety features and this makes them riskier to insure. After all, one or two lightly injurious wrecks can cost a great deal more in insurance premiums. Conversely, a newer vehicle may contain advanced safety equipment such as anti-lock brakes and lane assist that could push premiums down some.
Myth 3: If you use personal auto insurance for business purposes Contrary to what you may think, using your car in any way for work-related activities The personal policy is not going to give full coverage that would comply with laws-ergo. In case there happens an incident and you need to make a claim, out of luck! Someone ought really to get themselves commercial coverage.
Myth 4: credit scores don’t affect insurance rates When signing up for insurance, your credit score can very much determine how much money you will be paying out the following years. Insurers generally view poor credit scores as high risk. In other words from the standpoint of frequent claims: you with Your Bad Credit Rating On File is free lunch enjoyment for them themselves. Just remember, those who have lower scores therefore may well have higher premiums.
Myth 5: Old drivers always receive lower insurance rates Even if experience can bring with it some discounts, getting older also brings slow reactions. As they say in the military, it’s not the years that); insurance costs may still go up over time due what they had earlier given away completely for free.