When it comes to car insurance, there are several factors that affect your premium rates and coverage. Some factors, like driving record, can have a big influence, while others have no bearing whatsoever. Find out the facts from fiction with these 5 common car insurance myths.

Myth 1: Red cars are more expensive to insure.
Fact: Car color has no impact on insurance cost. In fact, insurers don’t even ask for your car color. What does matter are make, model, body type, engine size, the age of the vehicle, and the age, driving record, and credit history of the driver. You premium can also depend on your car’s sticker price, average repair costs, safety ratings, and the likelihood of theft. Instead of color, insurers are more interested in knowing if you have had any previous car accidents, the number of miles you drive per year, and where you live.

Myth 2: Older drivers pay more for car insurance.
Fact: Many drivers aged 55 years and older can qualify for a reduction in auto insurance rates. By successfully completing a defensive driving course, you can earn up to a 10% discount on your premiums for three years. If you’ve completed the full course within the last 36 months, you can maintain your discount by taking refresher courses. Visithttp://www.aarp.org/drive to register for classroom or online courses, or contact us for more information. Classes are available to both AARP members and nonmembers.

Myth 3: You only need the minimum amount of liability coverage.
Fact: Chances are, you will need more liability insurance than the state requires because accidents often cost more than the minimum limits. Buying only the minimum amount of liability means you are likely to pay more out-of-pocket for losses incurred after an accident, which can be financially devastating. We recommend a minimum of $250,000 of bodily injury protection per person and $500,000 per accident.

Myth 4: Not reporting an accident will keep your rates down.
Fact: If you’ve been in an accident with another driver, it is more than likely that he or she will file their own insurance claim for damages and injuries sustained. This means that the other party’s insurance company will file a claim against you and your insurer. In addition, getting a ticket because of a car crash will cause it to appear on your record. Both of these scenarios usually end in higher premiums. It’s best to report!

Myth 5: Comprehensive coverage protects you in all situations.
Fact: Comprehensive coverage is one type of protection available on an auto insurance policy (others being collision, uninsured motorist, etc.). Comprehensive coverage pays only for damage caused by an event other than a collision, including fire, theft, vandalism, weather, and more. Contact us to find out about additional coverage that may be available to you.

Fact: We’re here to help.
As your insurance agents, we’re here to help you get the right coverage at the best rate.Contact us today to get the facts about your auto and home insurance needs, policies, and options.