Would choosing a red vehicle mean that the probability of an accident is higher? And will this affect your premium insurance? There are many "myths" about coverage for cars-although some of them are actually true.

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Getting an insurance plan should be a must when buying a car-it is a major asset. But there are myths like any first-time delving into uncharted territory. Several common vehicle insurance myths are:

  • Car rates should be reduced as the cost of the car decreases
  • Vehicle policy covers mechanical breakdowns
  • Insurance is only necessary if the vehicle is in the contract of hire purchase
  • The most important factor in choosing an insurer is the monthly premiums you charge
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Now it's time to debunk all those common car insurance myths.

Myth 1: The choice of color plays a significant role role in the price of premiums. It varies between insurers. Studies have shown a higher risk of accident damage for red and black vehicles than for white vehicles.

Myth 2: As the driver gets older, it costs more to be covered. Wrong. It operates in the opposite direction. Because of their perceived inexperience, which supports a higher premium, younger people or people with a driver's license for shorter periods of time are a higher road danger.

Myth 3: Private auto insurance covers the use of the car for company. Right. There is an opportunity for a policyholder to cover the vehicle for business or private use. Insurers will only allow companies that meet their criteria to use company.

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Myth 4: If I was a victim of remote jamming, the insurer would pay out. Right, at some degree. Most insurers prohibit remote jamming and allow forced and aggressive entry into and out of the vehicle to accompany the robbery. At Santam, by means of car jamming, theft is not excluded, but if it can be proven that there was no effort to lock the vehicle, the argument can be dismissed.

Myth 5: If someone else drives the insured's car, they will be covered by the other person's motor insurance in case of an accident. Right. The coverage of the other person will cover the damage done by the incident to a third party. The vehicle's insurer will normally cover the vehicle's damage. It is recommended that the policyholder confirm this with their insurer in advance to prevent any surprises.

Myth 6: The policy would cover pothole harm. This kind of circumstantial arguments depend on the situation. Motorists can also demand from the National Roads Agency of South Africa.

Myth 7: Men are paying more for car insurance than women. This is true for most insurers because it is considered that women have a lower risk profile.