Debunking 3 Common Auto Insurance Myths

One of the first things a person has to do after buying a vehicle is getting auto insurance. Unfortunately, it can be hard to pinpoint exactly what does and does not impact the cost of your auto insurance. Does the car matter? Will being married increase your rates? Are older cars less likely to be stolen? It is important to know the truth about car insurance myths before talking to an auto insurance provider. 

The Myth: The Color of Your Vehicle Matters

The Debunk: The color of your automobile has absolutely no weight on the cost of your auto insurance. When it comes to the vehicle you are driving, your auto insurance provider cares about the make, model, engine size, age, body type, and mileage. They do not care what color it is. They may, however, consider other factors such as how much the car costs to repair, what kind of safety ratings it has, what the blue book value is, and the statistics regarding theft of that particular vehicle.

The Myth: Auto Insurance Is More Expensive When You Get Married

The Debunk: Studies suggest being married could actually save you money on your car insurance. In fact, the average difference between married and single individual’s insurance rates tends to be fairly large. This is because some auto insurance providers view young and single drivers as a greater risk than if that same young driver were married with a family.

Statistics show that single individuals are twice as likely to get in an auto accident than married drivers. Auto insurance providers also assume single drivers are more likely to drive while drinking than married individuals. This is especially true for male drivers under the age of 25.

The Myth: My Vehicle Is So Old it Isn’t Appealing to Car Thieves

The Debunk: Unfortunately, this is wrong. Car thieves actually prefer older automobiles because they tend to be easier to break into and steal. In fact, there was a 2007 report with the National Insurance Crime Bureau that listed the following vehicles as the most stolen vehicles that year:

  • 1995 Honda Civic
  • 1991 Honda Accord
  • 1989 Toyota Camry

The same report also mentions that what automobile thieves steal does vary by location. For example, car thieves in Texas are partial to trucks, while thieves in California like imported vehicles and Toyotas.

As you can see, having an older car is not necessarily the better option, being married will help the cost of your auto insurance, and it really doesn’t matter what color your vehicle is. If you still have questions about other insurance myths you’ve heard, go to the source and talk to a local insurance company like Powell Insurance Agency to find out what really affects your cost.