Insurance Mythbusters

*PHOTO CREDS: THETINYLIFE.COM

Photo By: John Doe
Button

Do you want to know a few of the common myths that people have about moths?

Well I cannot provide that list for you, but I can provide you with a couple of the most common myths that people mention when it comes to insurance.

You may know these are myths, but somehow you still believe in them, or have believed them at one point in your life. So today I will present you with two most common auto insurance myths.

Auto Insurance Myth #1: Red cars are more expensive to insure.

Let’s be logical…how does an insurer know that the vehicle is red? Now yes, they know the VIN of your vehicle, but you could have had the car painted.

Now that we have looked at it from an aesthetic viewpoint what about from the insurance perspective. Does the color of the vehicle make it more of a risk? No, there is no scientific evidence that proves that those that drive red cars are riskier drivers which would cause higher premiums, so whether red, blue, green, or hot pink…the rate in which the insured will pay is not associated with the color of the vehicle.

Factors such as age, driving record, creditworthiness, usage, and many other factors are calculated, but that is another post.

Auto Insurance Myth #2: Thieves are more likely to steal new cars.

While I will say that a 2015 Kia may be enticing for a thief. He is more than likely going to go for the 1994 Honda due to the market value of the older parts. Talk us here at Advisors (844-272-0525) about comprehensive coverage for theft and vandalism of your automobile.

If you like these mythbusters then check in again soon.