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4 Untruths About Auto Insurance

Auto Insurance

There are a lot of untruths on the Internet today, and here are some of the main ones about car insurance. 

The color of your car makes a difference – There is a very common myth that a red vehicle is going to be more expensive to insure. Black is another color that is deemed to be more costly. A lot of people then end up avoiding cars in these colors because they fear that they are then going to have more expensive insurance premiums. In fact, there is no evidence whatsoever to indicate that there are any links between the color of a car and the insurance premiums. 

Your job title does not impact your car insurance – A lot of people assume that when they enter their occupation this is purely for administrative purposes. In fact, it can actually have an influence on the cost of your insurance policy. It all comes down to how your job title is worded. Subtle changes can have an impact on your premiums. For example, MoneyWise discovered that a restaurateur was charged $93 more per year than a cafe owner was. You may think that this is unfair, but investigations have shown that it can happen, so it is definitely worth seeing how this impacts your insurance quotes when you are assessing your options.

You can lower insurance costs by putting your policy into your parent’s name – It is thought that this is a common hack for lowering insurance costs, especially when looking for the best car insurance for a male under 25. If you are a younger driver, your costs are going to be more expensive when it comes to more experienced drivers. Because of this, you may think that it is a good idea to put down your parents as the main driver so you can lower the cost of insurance. This is not recommended. Why? Well, first and foremost, it is actually illegal. You could end up being stung with a fine of $5,000, and then your insurance certainly isn’t going to feel cheap then! Plus, it can make it very difficult for you to secure car insurance in the future. You can add your parent as a secondary driver. This is something that is legal to do. It may reduce your premiums slightly. However, make sure you do not put a parent down as the main driver.

You will get cheaper insurance if you have low mileage – A lot of customers will think that if they drive a lower number of miles, they are going to be able to reduce their insurance premiums. However, this is not always the case. After all, if you do not drive a lot, your potential insurance provider may assume that you have less experience and confidence behind the wheel. Therefore, they may deduce that you are going to be more likely to be involved in an accident. This is something that is going to vary from provider to provider. This is why it is important to look into how mileage can impact the cost. 

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