Top 10 Insurance Myths Explored

Top 10 Insurance Myths Explored

Insurance Myths Busted

Does the color of the car you drive raise your insurance rates? Are old cars cheaper to insure? And will your premiums go up after a claim?

Each of these questions has an answer and it might not be what you think it is.

We’ve compiled a list of the ten most common car insurance myths in the hopes of debunking them. The answers might not only make you a smarter car insurance shopper, they might also save you money, or even impact the next car you buy.

  • Gavelmaster

    Reference parking tickets not being paid meaning a ban or license suspended, that cannot be correct. Non payment of fines is a civil matter and nothing to do with DVLA

  • Jeff T

    Look up insurance companies in a thesaurus and you find: satan, monopoly, north korea politics, mlse, cellphone providers….etc

  • Sami Haj-Assaad

    Thanks for the comment, but unpaid parking tickets can indeed get your license suspended in certain states. In other cases, your vehicle registration will be suspended or you won’t be able to renew your license or registration until you pay off your tickets. All of these conditions can affect your insurance rates.

  • S.D.

    Premiums always go up after filing a claim, even if it’s not your fault, at least in Massachusetts. Insurance companies use a score called the Auto Insurance Score, which is separate from your driving history, which tells them how likely you are to file a claim. The more claims you file, even if not your fault, the lower your score goes and the more you pay for insurance. It should be illegal, since you are being penalized for using your insurance regardless of fault.

  • Sami Haj-Assaad

    Ouch! I’ve heard insurance is a bit different in different countries – in Canada, I’ve always found it hard to be happy with my insurance costs.