Rumors are everywhere from the lips of teenagers trying to convince their parents to let them borrow the car to Internet sites and blogs that just don't have their facts straight. Car insurance myths are a dime a dozen, and driving by these myths can put you in some hot water. Here are just three of the more common car insurance myths debunked.

Car insurance myth: The color of my car influences my car insurance rate.

Car insurance fact: The make, model, year and other manufacturing specifics do influence your car insurance rate, but the color of your car does not. If you're driving a car that was built for speed, odds are that you will pay more for car insurance because the insurance companies assume you are the kind of person who likes to put the pedal to the metal. To the company, this represents a higher risk. To determine whether you're a speed demon or a soccer mom, the car insurance company looks at the specifics of your. However, the insurance companies don't really care what color your Corvette or mini van is.

Car insurance myth: If I'm not the one driving the car at the time of the accident, my rates will not go up.

Car insurance fact: No matter who is at the wheel, it is the car that is insured – not the driver. This means that if your friend is driving your car and gets in an accident, your insurance still pays for the repairs (although your friend's insurance could be used to cover any repairs that exceed what your coverage) Regardless of who is driving, this could mean your insurance rates go up. Also, check the laws specific to your state that deal with these sorts of situations. If you're driving a friend's car, and you're unaware that she's not insured, you could end up paying for any damages with your policy.

Car insurance myth: My credit score doesn't matter when determining my insurance rate.

Car insurance fact: When you go to purchase a new car insurance policy or renew the one you have, your insurer will look at your credit score. The lower your credit score, the higher risk you are considered to them. For this reason, it's important to get a copy of your credit report and scan it for errors before opting for a new policy.

Of course, there are a hundreds more car insurance myths circulating on the Internet and among those who drive. Before you purchase a new policy or drive unsure of coverage, use the valuable resources provided by your insurance company and the Internet to familiarize yourself with the car insurance facts.