Top 5 Myths About Auto Insurance (That Could Cost You)

Auto insurance Lethbridge can be confusing with diverse myths that sound true, costing you money, time, and effort. These myths force you to believe vehicle insurance is costly and unnecessary. Here are five auto insurance myths that are wrong and baseless.

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“Red cars ask for high insurance.”

It is a common myth that refuses to die with time. However, insurance companies do not bother about your car color. Instead, your car’s make, year, engine, model, and safety features are crucial and more likely to be stolen. So, you can invest in a red car and avail the same insurance. Furthermore, your driving track record matters more than your car paint. 

“Insurance covers everything.”

It is the most common false thought that drivers have. Basic liability insurance covers other damages, not your car. Furthermore, if you want insurance for theft, accidents, and weather-related damage, choose a comprehensive car and home insurance Lethbridge. Review your insurance policy carefully to ensure you have maximum car protection.

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“Older cars don’t need insurance.”

This myth is not always true. It can be cost-effective to drop collision or 360-degree coverage for a car with a lower market value. Furthermore, the auto insurance policy rate also depends on your financial situation. Hence, if you cannot afford to repair your car, a vehicle insurance policy is worthwhile irrespective of its age. 

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“Insurance isn’t necessary when someone else drives your car.”

It is a significant myth, and insurance is the primary coverage you should get when someone else drives your car. If they get into an accident, your insurance policy and rates will be impacted. Hence, be aware of this information and get an insurance policy if you own a car.


“Minimum coverage is enough.”

Yes, minimum coverage is sufficient to make your car legal to drive. However, it doesn’t completely protect your vehicle. Minimum liability can max out immediately in a serious accident, leaving you responsible for the damage. Hence, opting for a higher monthly premium saves you thousands in the long run. 

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These are a few common myths that leave you underinsured, unprotected and stuck with a huge bill. So, what is the best move? Read the policy carefully, ask questions, and don’t assume. In 2025, insurance is a legal requirement and a financial safety net.

Are you looking for?

No worries! Schwartz Reliance Insurance offers several types of insurance, such as a vehicle, Lethbridge home insurance, and commercial. Trust their team for the best outcomes.

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