Auto insurance is a vital part of car ownership, providing financial protection in case of accidents or other incidents. However, there are many myths surrounding car insurance that can lead to misunderstandings and poor decision-making. In this blog, we’ll debunk three common auto insurance myths and set the record straight. 

Myth 1: Car Color Impacts Auto Insurance Rates 

The Myth: Many people believe that the color of their car affects their auto insurance premiums, with red cars often cited as being more expensive to insure because they’re supposedly associated with higher speeds and more accidents. 

The Reality: Car color has no impact on your auto insurance rates. Insurance companies do not factor in the color of your vehicle when determining your premium. Instead, they focus on more substantial factors such as the car’s make and model, engine size, age, safety features, and the driver’s history. So, whether your car is red, blue, black, or any other color, it won’t affect what you pay for insurance. 

Myth 2: Newer Cars Are Always More Expensive to Insure 

The Myth: It’s a common assumption that newer cars are always more expensive to insure because of their higher market value and the cost to repair or replace them. 

The Reality: While it’s true that some newer cars can be more expensive to insure, it’s not a universal rule. In fact, many newer vehicles come equipped with advanced safety features and technology that can lower the risk of accidents or injuries. These features can lead to discounts on your insurance premiums.  

Additionally, newer cars might qualify for other discounts, such as anti-theft devices and modern braking systems. Insurance costs depend on a variety of factors, including the car’s safety rating, the cost of parts, and even the likelihood of theft, rather than just its age. 

Myth 3: State Minimum Insurance Leaves You Fully Covered 

The Myth: Some drivers believe that carrying the state minimum insurance coverage is sufficient to protect them fully in case of an accident. 

The Reality: State minimum insurance requirements are designed to ensure that all drivers have a basic level of coverage, typically liability insurance, which covers damages you may cause to others in an accident. However, this coverage often falls short when it comes to covering the full costs of an accident, especially if there are significant injuries or property damage. It also doesn’t cover damages to your own vehicle or medical expenses if you’re at fault. 

To truly protect yourself, consider additional coverage options like collision, comprehensive, uninsured/underinsured motorist coverage, and personal injury protection (PIP). 

Believing in common auto insurance myths like these can lead to inadequate coverage and unexpected expenses. It’s important to understand the realities of car insurance so you can make informed decisions that protect both you and your vehicle. Have questions about your coverage? Reach out to us at Safeside Insurance Agency, where we’re committed to getting you The Right Insurance at the Right Price. Our team will help you navigate the complexities of car insurance and make sure you’re adequately protected.