credit given to Consumer Specialist Jee-Yun Lee on CityNews
here are some other less than factual statements and the truth behind them.
1*It costs more to insurance a 2-door car than a 4-door
Nope. Insurance companies only look at what you paid for the vehicle, its potential repair costs and whether it’s been in any previous accidents. The number of doors is irrelevant.
2*Parking tickets will up your rates
Again, not the case. The only thing that might affect your insurance is if you don’t pay the fines.
3*If I lend my car to someone and they have accident, his insurance will cover it.
No it won’t. Your insurance covers the car and your policy will pay for it. Expect your rates to go up afterwards.
4*My daughter uses the car to deliver pizza. She’s not self-employed, so it’s covered by our insurance.
No, it isn’t. If your vehicle is used for anything but personal use, then you will probably need to extend your personal auto policy to cover business use of your vehicle
5*Males under the age of 25 pay more for auto insurance.
This one’s a little tricky - it’s both true and false. Teenagers and mature adults, both male and female, pay the most for car insurance, because these groups are typically involved in more accidents.
But males under 25 can potentially pay more than females of the same age, depending on their vehicle’s make, model and age, and their own previous driving records.