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III attempts to dispel common auto insurance mythsPosted On Mon, February 28, 2011
Owners of bright, flashy vehicles may feel like they're being charged more for their auto insurance, but according to the Insurance Information Institute, the notion is nonsense.
"For years there has been this notion that color plays a significant part in calculating insurance premium costs, many people believing that red cars cost more to insure because they're linked to aggressive driving or speeding," said Loretta Worters, vice president for III. "The fact is, insurers have no interest in the color of a car, but they are interested in knowing if you have had any previous car accidents, the number of miles you drive annually and where you live."
This is one of eight myths III is attempting to dispel in an effort to save consumers money. Credit not affecting insurance rates, only needing the minimum amount of auto insurance coverage the state requires and soldiers paying more for premiums are some of the other myths III wants to banish.
What is not a myth is some models costing less to insure than others. According to Insure.com, the Chrysler Town & Country LX, Toyota Sienna and Toyota Sienna LE are this year's least expensive cars to insure.
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