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Insurance | 12.06.2014 - 17:04

Five Common Car Insurance Myths You Should Leave in Your Dust

Don't be fooled by some of these common insurance myths!

Most drivers are familiar with the basic principles of car insurance. Unfortunately, some motorists still fall victim to the numerous car insurance myths being circulated. Here are five common car insurance myths that you should leave in your dust.

 

Myth #1: Thieves do not target older cars.

 

This myth causes many drivers to neglect adding anti-theft devices to their ride. Older cars are just as likely to be stolen as brand new models. In fact, the 1992-1995 Honda Civic remains one of the most stolen vehicles in America. If a vehicle lacks the appropriate anti-theft protection, an experienced car thief can hot-wire it in less than a minute.

 

Myth #2: If you allow a friend to drive your vehicle, they are responsible for any damages.

 

It is not uncommon for a person to allow someone else to drive their vehicle. Unfortunately, the car owner is still responsible for any damages that are sustained in a crash. If your friend or relative has a shaky driving history, you may want to think twice about allowing them to get behind the wheel of your car. The situation can become even more stressful if someone happens to get injured.

 

Myth #3: Bright colors increase the cost of car insurance.

 

The color of your vehicle does not have any impact on the cost of insurance. Although a brightly-colored sports car may attract more attention on the road, it will not increase the insurance rate. Whether you prefer black or canary yellow, you can expect the insurance rates to remain the same.

 

Myth #4: Remaining accident-free is the only way to lower the cost of insurance.

 

While it is true that safe drivers are offered discounts, there are also other ways to lower the cost of a car insurance premium. According to a Halifax auto insurance agent from Eisenhauer Insurance Inc., purchasing a vehicle with a great safety rating will help to lower your insurance rate. Some car insurance companies provide discounted rates for the drivers who take an accredited defensive driving course. Good students are also eligible for savings.

 

Myth #5: Comprehensive coverage pays for mechanical failures.

 

Adding comprehensive coverage is a great way to protect your vehicle from natural disasters, theft, and collisions involving wildlife. However, do not expect the insurance provider to pay for a blown head gasket or faulty fuel pump. Comprehensive coverage does not work in the same manner as an auto warranty.

 

There is no denying the importance of keeping your vehicle insured. When selecting a car insurance policy, remember to keep these car insurance myths in mind.

 

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