young boy on phone sitting next to two cars in rear-end collision

5 Myths About Car Insurance You Need to Know

Are you looking to learn more about car insurance? At times, car insurance can be tricky to understand and confusing. There are a lot of myths about car insurance out there, and if you’re going to get the right kind of insurance for you, you’ll need to know what’s true and what’s false. 

[Read More: What are the Different Types of Car Insurance?] 

A Red Car Costs More to Insure 

This myth has been around forever. Some drivers still believe that if they get a flashy color for their car, like red or yellow or something else, they’ll have a more expensive insurance rate. Car insurance companies set rates based on numerous factors, but the color is not one of them. 

Your Premium Will Rise as Your Get Older 

There’s also a myth that older drivers are more dangerous and slower behind the wheel, which some people think means that the older they get the more expensive their insurance will be. Actually, the opposite is true as some companies offer discounts for drivers over 55 that complete safe driving courses. 

man holding tablet looking at damage to car

If Someone Borrows Your Car, They’re Responsible for Damages 

You may think that because you weren’t driving your car, you’re not liable for any damages another driver may have caused. But in most states, the owner of the vehicle is considered the primary insurance, regardless of who the driver is. 

A More Expensive Car is More Expensive to Insure 

Companies look at numerous factors when considering the rate for a new car, but the price is not the most important thing. What matters is how much it may cost to replace or repair your car. For example, a $30,000 convertible may have a higher premium than a $50,000 SUV. 

Car Insurance Covers Items Stolen from Your Car 

You may think that an item that is in your car, like say a laptop or phone, would be covered by your car insurance but that is wrong. Personal property is typically covered by your home or renter’s policy, not your car insurance. 

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