Auto insurance is a tricky subject, and there is no shortage of myths floating around. Here are 7 of the most common auto insurance myths.

Myth #1: "Auto insurance rates always increase after a ticket"

A single traffic violation doesn't always lead to a higher auto insurance rate. In fact, some auto insurance companies won't raise your rate until you get a second ticket.

If the cost of your auto insurance has increased because of a ticket, compare quotes with LowPolicy.com. It could help you find a cheaper rate.

Myth #2: "Red cars are more expensive to insure"

The idea that red cars cost more to insure is one of the biggest auto insurance myths out there. Vehicle color has absolutely no impact on auto insurance rates. In fact, when getting an auto insurance quote with most insurers, you won't be asked to provide your vehicle's color.

Myth #3: "Credit scores have no impact on my auto insurance rate"

In many states, insurers are allowed to use credit-based insurance scores to calculate rates when drivers purchase, renew, or modify an insurance policy. Drivers with good credit are generally offered premium rates. Not all states allow insurers to check credit scores, though.

Myth #4: "I'm covered for auto theft"

Without comprehensive coverage, an optional coverage in most states, your vehicle will not be protected against theft. Roughly 23 percent of drivers do not purchase this coverage. Similarly, drivers without this coverage are not covered for weather damage, fire, vandalism and other non-collision loss.

Myth #5: "Cheap cars cost less to insure than luxury cars"

Less expensive vehicles are usually cheaper to insure than high-value vehicles, but not always. For instance, an entry-level vehicle with a powerful engine and a high theft rate may cost more to insure than a luxury sedan.

Myth #6: "Personal auto insurance covers business use"

Personal auto insurance probably does not cover any business-related driving activities. You must purchase a commercial auto insurance policy to cover your vehicle for business use.

Myth #7: "Reducing coverage is the best way to cut costs"

Reducing coverage is a disastrous idea, as it may leave you underinsured. Instead, shop around and search for a more affordable policy with a different insurer. Drivers who compare rates with LowPolicy.com and switch policies save an average of $301* on a six-month policy*.

Shop and compare auto insurance quotes for free with LowPolicy.com.