Myth busted. It’s OK if your little Corvette is red or your big Cadillac is pink. Color has no impact on your car insurance price. At Progressive, we don’t even ask about it. Custom paint jobs are another story—if you paint your vehicle, be sure to add the optional coverage “custom parts and equipment” to your policy.

Answers to those age-old auto insurance myths

Comprehensive coverage is the same as full coverage

Myth busted. While the word “comprehensive” might imply you have everything you need, the coverage only protects you from things out of your control like theft and vandalism. It will not cover you if your vehicle collides with another car or object.

See more on comprehensive insurance or if full coverage is even offered by insurance companies.

Cheap cars cost less to insure

Myth busted. If your cheaper car has a large engine, weighs a lot, or is an unusual model, it might cost more to insure than a more expensive small car. However, if you have a cheaper car, you will usually pay less for comprehensive coverage.

Personal auto insurance covers my vehicle for business use

Myth busted. Although you’re typically covered by your personal policy for business errands, a commercial auto policy will be required if you’re using your vehicle for delivery services or transporting passengers for a fee. You may also need commercial auto insurance for certain vehicle types.

Insurance companies pull credit for quotes and then my credit takes a hit

Myth confirmed, then busted. Yes, insurance companies may view your credit report to provide the most accurate quote. However, it is a soft inquiry only, meaning your credit score will not be affected in any way. You could quote hundreds of insurance companies in one day, and your score will never change.

My rate will decrease when I turn 25

Myth confirmed. You are likely to see a decrease in price when you turn 25, assuming all other factors remain the same. At Progressive, the biggest rate drops come at 19 and 25. As drivers gain more experience, they’re less likely to be in an accident. But, these savings can easily be cancelled out by a poor driving record or other factors.


Credits: Progressive Insurance