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Top Car Insurance Myths

Although car insurance has become a common service and we are fairly familiar with it, the industry is still plagued by many misconceptions and myths. Check the top car insurance myths and get a free car insurance quote from our website.

  • Red cars are more expensive to insure. This is by far the most common car insurance myth. This happens because we think of color red as an exponent for aggressiveness and we immediately consider the drivers as risky and dangerous. As you can imagine, this is totally false. The only case when the color influences the rate is when the paint job is really expensive, using really expensive substances.  In this category we have many luxury cars included.
  • You will get the value of a new car if your car is totaled. Again, this is false. You should understand that cars, like many other goods, depreciate over time. And insurance companies are aware of that. They will evaluate several factors before providing the reimbursement. They will check the condition of the car, prior to the accident and the current market value.
  • You can pay car insurance premiums a bit later, because there is a grace period. Another totally false affirmation. If you are late making an insurance payment, there is not any introductory period and the insurance protection will lapse. Coverage is reinstated when payment arrives so it is paramount to be sure to pay your insurance premiums on time.
  • You can change carrier only at the end of the term. There are no limitations on when you can switch insurance companies. If you find a better rate, you can terminate your current policy and start a new one. You just have to synch the change and to never have a gap in coverage. Your new policy should begin immediately when you terminate an old one.

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