The Biggest Car Insurance Myths
Shopping for car insurance in Toronto can be challenging in all respects
. Diligent customers meticulously look for a car which would meet their needs and budget. Especially, concerned they are about the amount of insurance and quotes they can get. Obviously, car insurance company will make a quote proceeding from you car specifications. For that reason, you need to know exactly which specific features make car insurance rate go up.However, the more you dig in the more uncertain you become about your car choices. Which color red or black? Does it influence insurance rates? What about the make and model? You ask yourself a thousand of questions and a funny thing is that you get even more answers. There are a myriad of car insurance myths which people accept to be true, however it's absolutely not.
All of the misleading concepts make the whole car buying affair even more complicated. Let's through light on the most popular Toronto car insurance myths. That way you can avoid costly mistakes when it comes to buying a car and getting it insured. Here are a few of the most widely spread Toronto car insurance myths debunked.
-Myth 1 Red Cars are Most Expensive to Insure
It's a commonly held belief that the color of a car is an essential criterion for car insurance company when calculating quotes. This has been confirmed by a survey carried out by Progressive Insurance. It turns out that 1/4 of surveyed are convinced that the color of a car influences car insurance rates. As a matter of fact, the color has nothing to do with the rates for car insurance.
Whether your car is red or black, you can be sure it's definitely not a feature which boosts your premiums. What is to be considered by car insurance company first of all are year, make, model, age, engine size and body type of a car. Obviously, the color is solely your preference.
-Myth 2 New Cars are Targets No 1 for Thieves
On the contrary most popular targets among thieves are older cars. This statement has been confirmed by the Insurance Bureau of Canada (IBC www.ibc.ca). Just look at the results of the IBC's report of 2009. The most stolen cars are:
2000 Honda Civic SiR 2-door
2003 Cadillac Escalade ESV 4-door AWD
1999 Honda Civic SiR 2-door
2006 Chevrolet/GMC Trailblazer SS 4-door 4WD
2002 Cadillac Escalade EXT 4-door AWD
2005 Cadillac Escalade ESV 4-door AWD
1997 Mitsubishi Eclipse Spyder 2-door
2000 Audi S4 Quattro 4-door
2006 Hummer H2 4-door AWD
2005 Cadillac Escalade 4-door 4WD
It can be explained by the fact that older cars are easier targets to steal than new ones. Additionally, old stolen cars can be dismantled into parts and sold afterwards. This creates a profitable business. If you're planning on buying a car in Toronto make sure you check this list out because your premiums will largely depend on the risk your car can pose to the insurance company.
-Myth 3 My Car Insurance Pays for the Losses in Case of an Accident or Natural Peril Occurrence
You will be covered against these things only if you get comprehensive and collision coverage. If liability coverage is what you possess at the moment keep in mind that you're not fully covered. This policy will only be able to cover the losses you cause to others in case of an accident. However, if you feel that it's not enough coverage for you, go for comprehensive and collision coverage to get a full protection and let your worries drift away. Collision coverage will protect your car in case of an accident, whereas comprehensive pays for a loss or damage other than collision, such as fire, falling objects, theft and vandalism.
-Myth 4: My Car Insurance Company Pays for Rental car
Unfortunately, your comprehensive and collision coverage may not include rental car. If that's important as you use car rental services often then you can back up you coverage with rental car protection. This coverage can be purchased at the affordable price.
-Myth 5: Sports Cars Drivers Lead in Tickets and Therefore Pay Higher Insurance Premiums
Not exactly so. In general, much depends on your driving habits no matter what kind of a car you drive. As a matter of fact Hammer H2/H3 drivers keep the top positions in traffic tickets according to a study carried out by Quality Planning. At the same time Jaguar XJ drivers show an exemplary driving skills and behaviour on the road.
Whether you are looking for a car or just considering to buy one, it's important you check the information given above. It can help you avoid some costly mistakes when it comes to picking out a car and getting it insured. Prior research is always important because it gives your hints of how to achieve successful result!
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