There have been all kinds of stories about car insurance circling the web, some of them sounding so silly they’re hard to believe and others sounding legit, but no matter how weird they look to you there’s always someone out there claiming they were true. Have you heard the one about red cars being more expensive to ensure? There are dozens more examples of hoax stories becoming myths, and like real myth busters, we’re here to debunk them.
Soldiers pay more to have their cars insured
We have no idea where and when this myth was born, but the fact is that it’s exactly the opposite in real life. Members of military actually get a discount on car insurance, even the former members and their families. Here’s a way to get cheaper car insurance if you have a member of the army in your family!
Red cars are more expensive to insure
This is one of the most common and most ridiculous myths on car insurance! This probably came from the fact that most sports cars were painted red in the early years, and the connection between reckless driving and the color red was made. When asking for info about your car, the companies won’t even ask for its color. What they’re interested in is the model, age, engine size and other mechanical characteristic and color isn’t on that list.
Company covers you if you use your own car for business
Many young people working in delivery services had to learn that this was a myth the hard way. It doesn’t matter if you use your own car for business, because the company you’re working for doesn’t cover your car insurance. This means that if you crash your car while, for example, delivering pizza, you’ll end up with both unsatisfied customers and an insurance issue to deal with.
Older drivers have to pay more
Unlike life insurance which goes up as you age, car insurance doesn’t necessarily go up if you get older. In fact, some senior drivers can get a 10% discount on their car insurance if they successfully complete an accident prevention course. There is even a discount on retired drivers on the account of them driving less, so if you fall into the senior drivers’ group check with your local agent to see if you’re eligible for any type of discount.
New cars are more appealing for thieves
The reason many people fail to insure their car is thinking that just because it’s an old model it won’t be interesting to thieves. The truth is, once again, exactly the opposite. Older cars are easier to steal because they usually have more primitive locks and alarm systems, plus they can be sold into car parts. New models are easier to spot so it’s hard for thieves to re-sell them, unlike the old models. If you think you’re on the safe side just because you’re car is old, you’ll have to think again.
If you lend your car, the friend pays the damage
Unfortunately, if you lend your car to a friend, you’re also lending them your insurance, meaning that any damage they cause goes on you. Next time someone asks you for your car keys, think twice.