We Uncover The Truth Behind The Top 5 Car Insurance MythsMarch 4th, 2008
When it comes to car insurance, there are many myths as to what affects your car insurance premium. We’ve got the five biggest myths below and tell you the truth behind them.
Myth number 1: Car colour affects your premium
True or False?: Totally false, it doesn’t matter whether your car is red, green, black or silver - it’s the make and model they base the rate on, not the colour.
Myth Number 2: Two-doors cost more to insure than four-doors
True or False?: False! Insurers look at the price of the car, repair costs, theft frequency and its previous claims history when determining the rate - not the number of doors.
Myth Number 3: Parking tickets affect your insurance rate
True or False?: This one is false, BUT unpaid fines may affect your ability to renew your drivers license or result in a licence suspension - this will affect your rate.
Myth Number 4: Getting a speeding tickets will increase your insurance rate.
True or False?: Well, this one depends. Your first minor speeding ticket will probably not affect your insurance rate. Get two or three more and it’s probable your rates will increase. A major speeding ticket (over 45 km/h over the limit) will instantly increase your rates.
Myth Number 5: The rate you pay for your insurance is the same - regardless of who you’re with.
True or False?: Totally false, shopping around has proven that insurance premiums differ from company to company, so it’s good to visit companies like tescocompare.com or moneysupermarket.com.
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