We’ve all heard the myths surrounding auto insurance: your paint color, credit score, age and sex can affect your auto insurance rates. But when it comes to auto insurance- how can you differentiate between myth and reality? The following are a list of commons myths- and actual truths that auto insurance shoppers are often confused about.
- No-fault insurance means an accident isn’t your fault. Ever.
No-fault coverage basically means that your insurance company will pay for your damages, regardless of who is at fault in an accident. - A red car will make my auto insurance more expensive!
Car color doesn’t really affect your insurance costs. What does affect how much you pay is your car’s year, make, model, body type and engine size- along with your credit history and driving record.
- If you let a friend borrow your car, their insurance will cover the damage if an accident happens.
Regardless of whose driving it, your car is your responsibility. Even if you are not present for the accident, it will go on your insurance record, and could make your premium go out.
- The government sets auto insurance rates.
The government does not set auto insurance rates- but your state can regulate them. Where you live, your marital status, and your credit score actually effect your premium.
- Males under the age of 25 pay more for auto insurance.
Although males under the age of 25 do usually pay more for auto insurance, generally, teenagers and seniors pay the highest rates of all auto insurers.
- Your credit score have no effect on your insurance costs.
Your credit score actually does affect your insurance premiums.
- Because you have never been involved in an auto accident, you don’t need insurance.
Even if you have been lucky enough to avoid car accidents, you should protect yourself with auto insurance. Also, you are legally required to have some form of auto insurance.
LeDoux Insurance can help you sort through the above myths quickly and easily. We are an independent insurance agency committed to providing our clients with comprehensive auto insurance policies at affordable rates. Visit
www.ledouxinsurance.com - you can learn more about the policies we offer or get a
free online quote on auto insurance.
