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With regards to auto insurance, it pays to be knowledgeable. Understanding how car insurance policy works can save you time, money in addition to hassle. From insurance coverage options to be able to deductibles, discounts in addition to premiums, there's plenty to learn. There's also an abundance of automobile insurance myths moving. Test your automobile insurance knowledge below by quizzing yourself to the top 10 auto insurance myths. Auto Insurance cover Myth #1: My car insurance policy will vary according to the color of my car. FALSE. Although a lot of people believe than a red car attracts a lot more attention, and hence may lead to more visitors tickets, the color of your car has nothing to do with determining your auto insurance premium. Instead, your credit history is a vey important factor helpful to determine your car insurance policy rates, followed by your automobile's 12 months, make, model, body sort, engine dimension, age along with driving document. Auto Insurance Myth #2: I'm the male less than 25. I'm from the highest insurance rate group! FALSE. While it's true which males under age 25 may pay a lot more for automobile insurance than their female counterparts, it's vital that you remember which overall, teenagers and older persons generally pay higher rates general health are at a heightened risk regarding accidents. Auto Insurance policies Myth #3: Sometimes My spouse and i use the car with regard to business uses. If Now i am in a major accident, my personal This external link was removed for your protection will still cover me personally. FALSE. If you are delivering pizzas part-time, occasionally transporting clients as well as driving to meetings, you should extend your car insurance policy coverage to add business utilize. If an automobile accident occurs while for a business errand, your individual coverage still may not cover a person. Auto Insurance cover Myth #4: Help! I experienced one speeding ticket (or accident). My car insurance policy rates will hit that roof! FALSE. Sometimes this is true, but many companies offer you "first time forgiveness" - so this means your first ticket and also accident won't affect your car insurance policy rates. It's more often than not that you'll need a couple of tickets before your fees increase. However, your cruising history, how rapid your were going and the length of time together with your auto insurance carrier can also affect if your price increases. If you're cited in a major accident, it doesn't imply that your own This external link was removed for your protection increases. Auto insurance carriers generally conduct their very own investigations, and subsequently base their decisions upon who was responsible for causing the crash. They will consider all of the facts, not only who was cited to the accident. Auto Insurance Myth #5: My buddy borrowed my car and is at an accident. I need not worry since his car insurance policy will cover the damages. FALSE. Even if you aren't found, if your truck is in an automobile accident, you could possibly be responsible. Also, there is a good chance that auto insurance policies rates could possibly be affected. Auto Insurance policies Myth #6: My automobile is totaled. My auto insurance company may cover the purchase price to substitute it which has a new one particular. FALSE. Read your own policy carefully. If your car is totaled, most forms of auto life insurance will only cover your "actual money value" of one's car -- not your replacement price tag. Then it becomes the responsibility to cover the distance between your settlement and the expense of purchasing any comparable car or truck. There are some auto insurance companies that offer "Gap Coverage" to guard against that depreciation, but you should request that. If you are leasing a motor vehicle, Gap Insurance is particularly important. Due into the low book costs, chances are generally what you can still owe on the vehicle will not be covered by the settlement. Auto Insurance cover Myth #7: I've moved, but My spouse and i already paid out my car insurance premium.