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Taylor & Associates Insurance Agency

Bill VanBrederode
Phone: (937) 962-2123

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5 Common Myths About Car Insurance

Does driving a red car mean you pay more for insurance? Does your insurance cover valuables stolen from your car? These are some of the questions many drivers don't know the answers to, according to a survey conducted by Princeton Survey Research Associates International. Here are five of the most common car insurance misconceptions and the truth behind each.

  1. Myth: Your car isn't covered if the accident is your fault.
    Collision insurance covers the vehicle of the insured, regardless of who's at fault for an accident. However, if you carry only the minimum liability insurance required by state law, your insurance covers only the damage to the other driver's vehicle, not your own.

  2. Myth: Red cars cost more to insure than other colors.
    The color of your car has absolutely no effect on your insurance rates, but the make and model of your car do. Why? Safety ratings vary by vehicle, and safer cars generally cost insurance companies less to cover.

  3. Myth: Auto insurance covers valuables stolen from your car.
    Auto insurance does not typically cover items stolen from your car, such as laptops or cellphones. Fortunately, homeowners and renters insurance both cover personal property stolen from vehicles. That said, in many cases, the loss isn't above the deductible.

  4. Myth: Where you live doesn't affect your insurance costs.
    When it comes to insurance, location does matter. Accident and vehicle crime rates in your neighborhood can impact premiums. Typically people who live in urban areas pay more than those who live in rural areas.

  5. Myth: Your insurance coverage includes mechanical repairs.
    Mechanical breakdowns, vehicle wear and tear, and regular maintenance are not covered by auto insurance. If your car is still under warranty, you may be able to avoid the out-of-pocket expenses.

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