In­sur­ance myths

Seaway News - - AUTO TALK -

1. Car colour af­fects your pre­mium False. It doesn't mat­ter if your car is blue, red, sil­ver, white, or black, your rate for that make and model will be the same. 2. Two-doors cost more to in­sure than four-doors Not true. In­sur­ers look at the price of the car, re­pair costs, theft fre­quency and pre­vi­ous claims his­tory when de­ter­min­ing the rate-not the num­ber of doors. 3. Park­ing tick­ets will af­fect your in­sur­ance rate Park­ing tick­ets do not count against your in­sur­ance, but un­paid fines might af­fect your abil­ity to re­new your driver's li­cence or worse, re­sult in a li­cence sus­pen­sion - which will af­fect your rate. 4. Get­ting a speed­ing ticket means your rates will go up It de­pends. Your first mi­nor speed­ing ticket ( typ­i­cally un­der 45 km/ h over the limit) will prob­a­bly not af­fect your in­sur­ance rate. But get two or three and you'll likely pay more. Any faster, like a ma­jor speed­ing ticket or racing, and your rates go up for sure.

5. The rate you pay is the same no mat­ter which in­surer you have cov­er­age with

Auto in­sur­ance pre­mi­ums across in­sur­ance com­pa­nies are not the same. What you pay with your cur­rent in­surer is not the same as what you would get with an­other; some­times it may be more, some­times less. You'll see that the range in rates avail­able vary con­sid­er­ably be­tween in­sur­ers and you might just find a lower rate for your­self.

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