The average cost to own and operate a new vehicle in 2022 was $10,728, according to a study from AAA, and for many a decent-sized chunk of those costs are from auto insurance. The study showed the average cost for full-coverage insurance across all types of vehicles (including hybrid and electric) was $1,588. Of course, auto insurance premium costs vary based on several factors, including where the insured lives, their age, driving history, car make and model and how much the vehicle is driven. In the United States, auto coverage is the least affordable for those in Louisiana, who spend an average of 3.09% of their household income on car insurance, the Triple-I reports. Florida and Michigan rounded out the top three states with the least affordable coverage, with residents spending an average of 2.61% and 2.43% of their income on insurance, respectively. However, nowhere in the U.S. has been immune to inflation-driven rate increases over the last couple of years, with average auto premiums sitting about 29% higher than they were pre-pandemic. In addition, ValuePenguin predicts personal auto rates could see an average increase around 12.6% in 2024. The threat of yet another premium jump has led many insureds to take a closer look at their auto policies to find ways to save money without sacrificing protection. Unfortunately, misinformation about insurance is rampant, and it can be hard for customers to separate fact from fiction. In the slideshow above, we'll debunk eight common auto insurance myths with advice from the Triple-I.

Related:

• States with the slowest growing personal auto rates
• 6 reasons for insurance premium increases
• Auto premiums could increase another 12% in 2024