While everyone knows at least a little something about insurance, there can often be a lot of confusion from person to person about the particular details. Men and women alike believe some insurance myths. Here are 10 insurance myths we would like to clear up!

You should buy insurance coverage for your house based on its real estate market value. €¢ In reality, you should buy coverage based on the cost for materials and labor that it would take to reconstruct the house.

Red cars cost more to insure because they are speeding ticket magnets. €¢ Car color actually does not have that great of an effect on your insurance rates.

If you cause a crash with extensive damage to others, your auto insurance company can cancel you without warning. €¢ Usually, if an insurer wants to drop an account, they have to wait until the policy period is up.

Small cars are cheaper to insure. €¢ Small and mid-size SUV's and minivans actually tend to be the cheapest to insure. Small cars are largely chosen by inexperienced drivers due to this myth and thus are more expensive to insure.

The Affordable Care Act (also known as Obamacare) allows health insurance companies to base their rates on existing medical conditions. €¢ In reality, it is the opposite. It prohibits health insurers from basing rates on pre-existing conditions.

Comprehensive auto insurance covers everything. €¢ It only covers narrow portions of possible problems like theft, storm damage, vandalism, and animal collisions.

Thieves steal new cars more often than older ones. €¢ Thieves actually steal older cars because it is more lucrative to steal them.

If a friend borrows my car and crashes it, their insurance will pay for the damage. €¢ If it is your car, it is your insurance that is responsible even if someone else is driving.

Obamacare requires you to take the health insurance plan offered by your employer. €¢ It requires you to buy health insurance but it does not dictate where you have to get it.

Out-of-state tickets cannot follow you home. €¢ Regardless of where you get a ticket, you are responsible for the fees associated with it.

Contact Weeks & Associates Insurance Services in Thousand Oaks for all of your California insurance needs. Do not let the various insurance myths confuse you. Let them keep you covered with a policy specifically personalized, just for you.