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Eight insurance myths busted

Microsoft IES Logo By Mark Atkinson for MSN Autos of Microsoft IES | Slide 1 of 8

Myth 1: Higher rates mean more coverage

Not true, says Thomas. The basic policy is usually the same in most provinces, meaning it's been regulated and approved by your provincial government. What affects the different prices is that each insurance company has its own set of rules and rates. Just because Company A charges $75 more a year to insure your car doesn't mean it's a better policy than what Company B offers.
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