True or False: Red cars cost more to insure because they get pulled over for speeding more.

True or False: If I cause a crash with extensive damages to others, my auto insurance company can cancel me immediately.

True or False: Small cars are the cheapest to insure.

True or False: The Affordable Care Act (also called Obamacare) allows health insurance companies to base rates on medical conditions such as high blood pressure, heart disease and cancer.

True or False: Comprehensive auto insurance covers everything and anything.

True or False: Thieves prefer to steal new cars.

True or False: If my friend borrows my car and crashes it, their insurance will pay for damage.

True or False: The Affordable Care Act (also called Obamacare) requires me to take the health insurance plan offered by my employer.

True or False: Out-of-state speeding tickets can't follow you home.
 

Answers & Explanations

Myth 1: I should buy insurance coverage for my house based on its real estate market value.
• 52% think it's true (45% women, 55% men).
Reality: Buy coverage based on a home’s cost to reconstruct (materials and labor).

Myth 2: Red cars cost more to insure because they get pulled over for speeding more.
• 46% think it's true (52% women, 48% men).
Reality: Car color doesn't affect insurance rates.

Myth 3: If I cause a crash with extensive damages to others, my auto insurance company can cancel me immediately.
• 44% think it's true (50% women, 50% men).
Reality: If an insurer wants to drop a customer due to claims, it generally has to wait until the policy period is up.

Myth 4: Small cars are the cheapest to insure.
• 40% think it's true (42% women, 58% men).
Reality: Small and mid-size SUVs and minivans are generally the cheapest to insure. Small cars are not, often because they're chosen by more inexperienced drivers who tend to make claims, and because passengers incur more expensive injury claims.

Myth 5: The Affordable Care Act (also called Obamacare) allows health insurance companies to base rates on medical conditions such as high blood pressure, heart disease and cancer.
• 36% think it's true (42% women, 58% men).
Reality: It's just the opposite – the Affordable Care Act prohibits health insurers from basing rates on pre-existing conditions.

Myth 6: Comprehensive auto insurance covers everything and anything.
• 32% think it's true (41% women, 59% men).
Reality: Comprehensive coverage is tragically misnamed. It covers only narrow portions of possible problems, including car theft, storm damage, animal collisions and vandalism.

Myth 7: Thieves prefer to steal new cars.
• 29% think it's true (42% women, 58% men).
Reality: It's more lucrative to steal old cars and sell them for parts.

Myth 8: If my friend borrows my car and crashes it, their insurance will pay for damage.
• 25% think it's true (48% women, 52% men).
Reality: You and your insurance are on the hook when someone else drives your car.

Myth 9: The Affordable Care Act (also called Obamacare) requires me to take the health insurance plan offered by my employer.
• 19% think it's true (41% women, 59% men).
Reality: The Affordable Care Act requires almost all Americans to buy health insurance but doesn't say where they must get it.

Myth 10: Out-of-state speeding tickets can't follow you home.
• 13% think it's true (34% women, 66% men).
Reality: Oh yes they can.