If you’re looking for auto insurance, you may have likely come across several misconceptions that can stop you from purchasing the right policy for your vehicle. In order to make an informed decision, learn the facts behind some popular auto insurance myths.
Color Determines the Auto Insurance Price
A popular myth about auto insurance is that owning a red car will increase your premium rates. Your insurance provider will consider factors like the type, model, and age, but the color of your vehicle has no effect on your auto insurance rates. However, if you get a custom paint job, your car insurance may be affected depending upon the provider.
Parking Tickets Affect Insurance Rates
Contrary to popular belief, insurance providers won’t look at the number of parking tickets issued to you. This is because parking violations don’t reflect unsafe driving habits and are issued when no one was driving. However, if you have any speeding tickets on your record, they are likely to significantly affect your auto insurance rates.
Men Pay More for Insurance Than Women
Generally, your gender can’t affect your car insurance rates. However, most major carriers consider men below 25 to belong to a high-risk group, thereby charging them higher rates. Similarly, even a woman may have to pay more if she has a poor driving history or a bad credit score.
Personal Auto Insurance Covers the Business Use of Your Car
If you are a self-employed individual and use your vehicle for business purposes, your personal car insurance may not cover it. You will probably have to purchase business vehicle insurance.
These are some of the many myths about auto insurance. Do you need help choosing your car insurance? If so, then contact the experts at Gant Insurance Agency in McKinney, Texas. We are happy to answer any insurance-related questions you may have.