5 Common Car Insurance Myths Busted

As a first-time car owner, you’ve probably heard some insurance myths that you’re not sure whether to believe or not. It’s overwhelming to look for an insurance provider that will give you the rate that you can afford, but it gets more confusing when you hear different things coming from various sources. But let’s get the record straight and clear up any misinformation you might have heard about car insurance.

  • Comprehensive insurance will cover you for all possible damages and accidents

Comprehensive insurance covers a lot of ground, but it won’t protect you for all kinds of damages. It usually covers loss or damage resulting from natural causes, theft or vandalism, or running into animals while driving. But it won’t cover you for damage when you get into an accident. Instead, you’ll need collision insurance for that. So before signing anything, make sure that you read the terms and limitations so that you won’t be caught by surprise when something happens.

  • Older cars will save you more on insurance

Car insurance premiums are dependent on a lot of things. This includes your driving record, how long you’ve had your licence for, and how many miles you drive annually. In short, the age of your car won’t determine how much your insurance will cost you. But, you may want to forego getting a collision and comprehensive coverage because it may not be worth it.

  • Your insurance will cover damages when your car gets wrecked by somebody else

Your insurance cover will always be dependent on your policy. So, if you get additional coverage for another driver, your insurance would pay for damages when another driver wrecks your car. However, keep in mind that claiming for an accident will go on your record and might affect your premium when you renew your motor trade insurance.

  • Good drivers don’t need to get a car insurance policy

There’s a minimum requirement for vehicle insurance and if you’re caught driving without insurance, you will incur hefty fines. No matter how good a driver you are and how confident you won’t get into an accident, some things are unpredictable, so you might as well get yourself protected by paying for car insurance cover.

  • Colour will affect your insurance premium

One of the most common insurance myths is that getting a red car will mean a higher premium. The truth is, colour won’t affect how much you’ll have to pay for your insurance. There are other factors that will determine the cost though, such as car model, make, body type, age of your car, and the engine size. A good safety record and additional safety alarms will also give you a better rate. And if you’re a good driver and haven’t made a claim in the past few years, your insurance provider may give you a good discount as well.

Getting the right car insurance policy shouldn’t be a tedious task. If you take the time to research and compare enough quotes, you will get a rate that’s worth your money.