Most Millennials Fail A Basic Quiz About Auto Insurance

A survey conducted by InsuranceQuotes.com has found that people don’t know as much about their car insurance as they think.  This costs them big time.  You must stay informed and get car insurance quotes online free.

Think you know whether the following statements are fact or fiction?  Check the quiz and try to answer. Read on to find out (the answers are below.)

  1. True or False: Driving a red car makes your insurance more expensive.
  2. True or False: Auto insurance covers you when an accident is your fault.
  3. True or False: Where you live affects how much you pay for auto insurance.
  4. True or False: Items stolen from a vehicle are covered by auto insurance.

The answers are:

  1. Pulled+Over+BatmobileFalse:This is a perpetual myth, probably disseminated by parents as they tried to avoid buying flashy speed demons for their young drivers. Purported, too, is the idea that red cars are pulled over more frequently, thus causing insurance rates to spike for the unlucky driver. Again,  this is not true.
  2. True:A basic auto insurance plan should cover you, even if that fender bender was your fault. To make sure you’re protected, check that your liability and collision coverage are above the minimum your state requires.
  3. True:Most Americans actually do know that location affects insurance rates. Urbanites with a car typically have higher insurance rates than those who live in rural areas based on the simple idea that cities are more densely populated—and more people equals more accidents, if you’re looking at basic probability.
  4. False: When something is stolen from your home, it’s typically covered under “personal property” or “contents” insurance—and 34% of Americans think the same principle applies to autos. If you’re worried that something will be stolen out of your vehicle, check with your homeowners or renters insurance to see if the items in your car are covered, too. Surprisingly, Millennials did better than their parents’ generation on this question. People age 18 to 29 responded correctly 68% of the time; those 65 and older responded correctly only 38% of the time.

And if you passed the quiz above, don’t get too comfortable—keep up with any policy updates from your provider to make sure you’re protected by your plan.

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