If you’re like most people, you’ve been told that certain things impact car insurance. You may hear it from friends and family or even read it online, which makes you believe it’s true. However, some of these accepted facts are really myths. Myths that cost you money when you could be saving it. Here are five you need to recognize so you don’t spend more money on car insurance in Salt Lake City than you should.
Myth 1: New Cars are More Expensive to Insure
A lot of people hesitate to buy a brand new car because of this myth. They stick with their same old vehicle or shop around for another used model instead of looking at new vehicles. The truth is, many times, you can save money by trading in your used vehicle for a new one off the lot.
These newer vehicles come with good crash test ratings and safety features. If you trade in a small car for a large SUV, your insurance is likely to be cheaper because the vehicle is safer. Backup cameras and parking sensors also help keep you safe, so they can lower your car insurance premiums.
Myth 2: Past Accidents or Traffic Tickets will Make Your Premiums Higher
You’ve probably heard that you will pay more for insurance if you have a traffic ticket or have filed a claim from an accident. While moving violations and previous claims do impact your car insurance rates, it doesn’t mean every one will raise your insurance. Many companies have a threshold in claims before an accident will raise your rates. It may be $750 or $1000, but any repairs under that amount won’t hurt you.
Your traffic tickets fall off your driving record after a certain amount of time passes. They also stop hurting your car insurance premiums as well. If you had a speeding ticket 10 years ago, it won’t be included in the data that is used to come up with your rates. If that speeding ticket is from last year, it will do more damage to your premiums.
Myth 3: You Don’t Need Insurance If You Don’t Own a Car
You may think you don’t need to have car insurance if you don’t own a vehicle. While this is technically true as long as you don’t get behind the wheel, it’s not an accurate statement. You will still pay the higher rate for not having a current insurance policy when you do get a car and need to buy car insurance.
Also, if you drive someone else’s car, you’ll need to have car insurance unless you’re listed on their policy. Otherwise, their policy won’t cover you in an accident if you don’t have your own insurance.
Make sure you check with your insurance agent about any information you’ve been told or heard before accepting it as fact. You never know when something someone tells you could be costing you money. Find out the truth so you can get the best rates.
