10 Surprising Car Insurance Myths About Rate Of Insurance

car insurance myths about rate of insurance. Cute girl surprised to know car insurance myths

Auto insurance is a mandatory requirement for driving a vehicle. These car insurance myths about rate of insurance can help you in selecting the best policy.

This unavoidable policy needed to drive an automobile on road in most of the country. When purchasing car insurance, it’s necessary to understand the various factors that can affect cost & coverage of your car insurance premiums.

Unfortunately, several myths & misconceptions are also prevalent in the society. These are even found to exceed the authentic facts in terms of popularity among consumers.

These commonly circulated myths & misconceptions can prevent you from buying the right car insurance cover for your needs. Here are 10 surprising car insurance myths about rate of insurance:

(1) Color Of Your Car Will Determine Rate Of Auto Insurance

It is one of the most surprising & commonly circulated car insurance myths about rate of insurance prevalent among car drivers. Generally, it is believed that bright red cars are expensive to insure. It is because they are often linked to aggressive driving or speeding.

But, actually the rate of motor insurance is unaffected by the color of car such as red, green or purple. Generally, the price of policy coverage is mainly affected by the type of automobile selected by you for driving.

Some of the major factors that are responsible for calculating the cost of insurance premiums include make, model, body type, engine size, age of vehicle, driver’s age, driving record, and credit history of driver.

Your premiums calculations can also be affected by car’s sticker price, repairing costs, overall safety record, & likelihood of theft.

Several insurers offer discounted premiums for installing daytime running lights, anti-theft devices, insuring multiple vehicles, completing driver education courses, maintaining good student record, as well as purchasing of auto & home insurance packages together.

Image Source: Shutterstock

Recommended Posts

About Editing Staff
At GetUpWise, we are a team of professional writers from different areas of subjects. We are conducting thorough research on each & every topic from highly reputed sources before writing any piece of article. Once research is done, we try our best efforts to provide informative piece of articles in an easy to understand manner. It is something that is extremely essential to meet our goal while reaching & offcourse building a strong online community. We do update our articles from time to time in order to provide the most latest information quickly. Thus, our articles can be used as a "way to gain smartness".

Leave a comment

Your email address will not be published.



This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Instant Access To GetUpWise Posts

Subscribe Us

Please do verify your email address by clicking a link sent to your email.

Secured By miniOrange
More in Auto Insurance
Mistakes To Avoid When Buying Car Insurance.
16 Critical Mistakes To Avoid When Buying Car Insurance

Auto insurance is legally required to drive a vehicle. These critical mistakes to avoid when buying car insurance can help...