1. Car colour affects your premium
False. It doesn't matter if your car is blue, red, silver, white, or black, your rate for that make and model will be the same.
2. 2-doors cost more to insure than 4-doors
Not true. Insurers look at the price of the car, repair costs, theft frequency and previous claims history when determining the rate-not the number of doors.
3. Parking tickets will affect your insurance rate
Parking tickets do not count against your insurance, but unpaid fines might affect your ability to renew your driver's licence or worse, result in a licence suspension - which will affect your rate.
4. Getting a speeding ticket means your rates will go up
It depends. Your first minor speeding ticket (typically under 45 km/h over the limit) will probably not affect your insurance rate. But get two or three and you'll likely pay more. Any faster, like a major speeding ticket or racing, and your rates go up for sure.
5. The rate you pay is the same no matter which insurer you have coverage with
Auto insurance premiums across insurance companies are not the same. What you pay with your current insurer is not the same as what you would get with another; sometimes it may be more, sometimes less. See for yourself at www.kanetix.ca, where you can get online quotes from competing companies. You'll see that the range in rates available vary considerably between insurers and you might just find a lower rate for yourself.
- News Canada