This is one of those mythical questions motorists often ask. There are many factors that affect your auto insurance rates and this isn’t one of them. In the same way, the answer is the same for a question like what color cars are cheaper to insure. Color of your vehicle has nothing to do with how much premium you pay.
Do red cars cost more to insure? Definitely no. Checking many car insurance quote forms reveals that insurers don’t ask the color of automobiles to be insured before they can offer a quote. That means it isn’t one of the factors they consider. Also, we checked through several well-known vehicle insurance company websites and found clarification that they are not interested in knowing if your car is grey, white, red, blue, black or yellow. Also, several authorities like Insurance Information Institute (III) confirm that your vehicle’s color has no bearing on your premium.
However, the car to be insured affects the rates charged a lot. To give an accurate quote, carriers want to know the make, model, age, engine size and body type of your car. These are all important and statistically relevant details. For example, today insurers know which types of automobiles cause more injuries and which ones protect their passenger better or which ones are more likely to be involved in high-speed collisions and incorporate this knowledge into their premium calculations.
Your and other listed drivers driving and claim records are other big determinants of rates. For example, a bad driver wanting to insure a high risk vehicle would substantially increase the costs. And a good driver with a low risk minivan can get cheap rates.
What Makes People Think Red Autos Cost More to Insure?
A recent survey found out that approximately 40% of motorists believe this myth. Similar surveys show that drivers don’t know many other things that actually influence their rates, like their zip code. If you are a good driver and have a safe automobile you can get good insurance rates. And these are the other influential factors.
People hear stories and start believing them. One of the explanations is that police officers notice bright red vehicles more than the others and may have tendency to stop and ticket them. Even it may be the case that doesn’t prove any direct link between color and premiums. Speeding tickets can increase the rates of drivers who got them, regardless of what they were driving.
Another explanation is that red is associated with sports cars like Ferrari and Porsche and they are usually higher risk than the more modest automobiles. However, performance cars’ higher insurance costs are more to do with their engine capacity and speed and silver or black ones are as expensive.
Also, some people argue that certain hues may affect people’s mood. For example, white may have a calming affect while bloodshot vehicle may provoke. These are just conjecture and the bottom line remains the same. Currently, underwriters don’t consider the color to be an influential factor.
So, there is no need to worry that you will pay more for auto insurance for owning a maroon convertible or ruby minivan. If your rates are too high, you need to look at other details to pay less and shop around for the best prices. You can do that right here.