Five important auto insurance myths exposed

(NC)-When it comes to auto insurance, many Canadians are not sure what's fact or fiction. To help you good understand auto insurance, RBC Insurance® debunks the top five auto insurance myths.

1. The coloring material of my car affects my insurance premium.

Many factors determine insurance premium including your vehicle's year, make, model, body type and engine size. The coloring material of your vehicle is not one of them.

2. If I use my car for work and have an accident, my employer's insurance will cover it.

Your employer may reimburse you for milage, but your own insurance provides insurance coverage in case of an accident. If you use your vehicle for work, you should be advising your agent or agent of this concern use.

3. Parking tickets addition insurance insurance premium.

Parking tickets do not affect insurance insurance premium. But a licence suspension from unpaid fines can affect your drive record, resulting in higher insurance insurance premium.

4. If my friend borrows my car and has an accident, their insurance will pay for harm.

If you lend your car, you lend your insurance. Any claims will be made under your policy, even if you were not involved in the accident.

5. Auto insurance companies can complaint what they want.

Auto insurance is topic to significant regulatory demand. Insurance companies must submit their car insurance rates to authorities agencies for blessing.

For more info, visit RBC full general Insurance Company of Canada at rbcinsurance.com/online or call 1-800-769-2526.