Bizarre Auto Insurance Facts You Didn’t Know

Not all auto insurance facts are created equal, which is why we’ve searched the Internet and compiled the most interesting and shocking auto insurance statistics to come up with this list of 10 bizarre auto insurance facts you never knew about. While some of these facts may seem obvious to those who work in the industry, others will likely surprise even veteran drivers who have never considered how their policies are put together and what goes into actually getting a car insured.

Red cars cost more to insure

Believe it or not, the color of your car can affect your insurance rates. Studies have shown that red cars are more likely to be involved in accidents, so insurers charge higher rates for them. If you’re looking to save on your premium, you might want to consider a different color car.

Girls are cheaper to insure than boys (or men)

In general, women are better drivers than men. They get into fewer accidents and don’t tend to get traffic tickets as often. This makes them less of a risk for insurers, which results in lower premiums. The same can’t be said for boys or men. Studies have shown that males under the age of 25 are more likely to get into car accidents than any other demographic.

Older drivers pay less

Believe it or not, age does have an impact on your car insurance rates. If you’re a young driver, you can expect to pay more for your premiums than an older driver. This is because younger drivers are considered to be more of a risk on the road. But don’t worry, as you get older and gain more experience behind the wheel, your rates will go down.

Higher deductible means lower rates

Most people think that a high deductible means high rates, but it’s actually the opposite. A higher deductible means you’re paying more out of pocket if you get into an accident, but it also means lower rates because you’re seen as less of a risk.

Here are a few other bizarre facts about auto insurance:

  • Your credit score can affect your rates. If you have a good credit score, you’re seen as more responsible and less likely to file a claim.
  • Your location can affect your rates.

Cars depreciate much faster than trucks, so if you buy a truck make sure you get the higher coverage

Did you know that cars depreciate much faster than trucks? If you’re in the market for a new truck, it’s important to get higher coverage to protect your investment. Here are some other bizarre facts about auto insurance you probably didn’t know.
  • Your credit score can affect your premium. If you have a high credit score, you’re more likely to get a lower premium.
  • Insurance companies use different methods to determine your rates.

Driving safely also costs less

You might not know this, but driving safely can actually save you money on your auto insurance. That’s because insurers often offer discounts to drivers who have a clean driving record. So if you’re looking to save some money on your policy, be sure to practice safe driving habits.

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