Why Are Red Cars More Expensive Insurance

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Fact or Fiction – Red Cars Cost More to Insure

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  • The color of your car has less impact on your insurance rates than the type of paint used.
  • If you have other high-risk factors as a driver, a red car may make your premium increase.
  • Red cars dont have higher traffic violation and accident rates.
  • Keeping a safe driving record will reduce your premiums more than changing your paint color.

It has long been thought by many motorists that the color of their cars has a great impact on their car insurance rates. Contrary to popular belief, red cars are not necessarily more expensive to insure than cars of other colors.

The type of vehicle that you drive, as well as the type not necessarily color of paint job you have on your car, is far more likely to cause your premiums to be affected.

Ensure You Are Selecting The Right Car Insurance Coverage

Auto insurance is something that most people don’t think about very frequently. While there are several factors that drive people to look to change auto insurance carriers, it is important to educate yourself in order to ensure you select the right coverage for you. The right coverage means not paying for coverage you don’t need and not foregoing coverage that would make sense for your personal situation. While price is a major factor, we also consider other factors such as customer service and the claims process when choosing what we think are the best auto insurance providers.

Does Having A Red Car Increase Your Insurance

Never fear, though. The myth that red cars cost more to insure is, in fact, a myth. While auto insurance companies take a number of factors into account when calculating your insurance rate, the color of the car isnt one of them.

When you sign up for auto insurance, your insurance company will want to know the make, model, and year of your vehicle, plus its Vehicle Identification Number .

Rather than the color of your car, your insurance company will be much more interested in the make and model of your car. For example, a standard, mainstream model will be cheaper to insure than a high-end imported vehicle.

Auto insurance companies look at risk factors that could mean that you are more likely to make a claim. These include factors like your claims, location, age, gender, and driving record.

However, while insurance companies tend to look at the same set of risk factors, keep in mind that they calculate their insurance rates differently. This means that you can shop around by getting quotes from different insurance companies to find the best rates.

Insurance premiums take into account the make and model, including the engine size and the cars sticker price.

Insurers will also often offer discounts for features that could reduce the risk of accidents of theft, such as daytime lights or anti-theft alarm systems.

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Red Cars Are More Expensive To Insure: Truth Or Myth

The colour of your vehicle is not a consideration when determining your auto insurance rate. Insurance companies and their actuaries do not have built-in rates for different coloured cars. So, the idea that people driving red cars pay higher rates to insure their vehicles is a myth. There is no data to support the idea that divers of red cars drive more aggressively or carelessly.

Do Birds Poop When They Take Off

Birds do poop when they take off. This is not something new and there are many different reasons why this happens. Many birds have a tendency to relax their muscles when they fly, causing them to urinate or defecate in the process. When a bird takes off it can produce up to one-third of its body weight in droppings.

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Always Get Car Insurance Quotes When Vehicle Shopping

Car sales plunged last year, with U.S. new vehicle sales in 2020 dropping a whopping 14.6% overall to 14.6 million vehicles compared to 17.1 million in 2019. This is the lowest number of cars sold since 2012. The pandemic hit automakers across the board, with only Tesla, Volvo and Mazda selling more cars last year than they did in 2019. However, sales are picking up in 2021.

If youre one of the many people in the market for a new car in 2021, you should always get insurance quotes for any vehicles that have made your shortlist. Always consider the cost of insurance when shopping for a new car, says Gusner.

Insurance costs can vary dramatically between vehicles, which pushes up the total cost of ownership. Make sure you have the budget for both the car and its insurance. Penny Gusner, senior consumer analyst for Insure.com.

Spot checking the cost of insurance is often overlooked in the car-shopping process. People will often research nearly everything about the car buying process, except what it would take to insure the vehicle they wanted, says Carl Anthony, Managing Editor at Automoblog.net.

They do all of their homework about negotiating the best price yet unintentionally forget to consider insurance coverage, which is one of the most significant expenses immediately following the purchase of any new vehicle. The best advice is to seek out and understand your insurance coverage options before heading to the dealership, advises Anthony.

Red Cars Cost More To Insure

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Red cars do not cost more to insure. Whether your car is red, silver, black or yellow, the truth is that insurers don’t take your car’s color into account when determining your insurance rate since providers consider your car’s made, model and year.

The price of insurance premiums depends on factors unrelated to car color. They focus on the likelihood you will file a claim. These are a few factors insurers consider:

  • The make, model and year of your car
  • Your driving record
  • The number of miles youve driven
  • Your location
  • Your gender
  • Your insurance history

Sports cars and electric car models can be much more expensive to insure than the average car, but it’s rarely due to color. Instead, it’s most likely the car itself that you may see a slight increase in your premiums. Insurers take into consideration the type of car you drive.

In addition, owning a red car shouldn’t influence the number of tickets you get or increase the likelihood of accidents. But if you do have a high number of tickets and accidents, you may see an increase in your insurance rates.

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Are There Any Car Colors To Avoid

The only way your cars color could be a factor in your insurance rate is if you have a custom paint job. Your color could be considered additional custom parts and equipment, but you shouldnt be charged much extra for it. Worst case, it would be a minor additional charge added to your premium.

Although many people believe flashy colors like red and yellow are more likely to be pulled over or encourage riskier driving, there is no statistical evidence to support that. If youre concerned about the chances of being pulled over, studies show certain models are more likely to be stopped by police, but not certain colors.

When it comes to car color and other risks, white cars have been shown to have the lowest statistical risk of an accident, and car thieves prefer silver, gold, green, black, and white cars. But just like with traffic tickets, certain models are more likely to be stolen, crashed, or ticketed with much greater predictability than certain colors. There is no definitive proof that car color has any measurable effect on safety or risk, so it doesnt matter for calculating insurance premiums.

The Vehicles Safety Features

Do Red Cars Cost More To Insure

A vehicle with more safety features is less likely to be involved in an auto accident. And if it is in a crash, serious injury is less likely because of better protections, such as airbags. Since insurers have to pay out injury claims, a safer car will cost less to insure than one thats lacking in protective technologies.

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Is Insurance Higher On Red Cars

Many drivers ask “is insurance higher on red cars?” when choosing which color they want for their vehicle. Though this is a common myth, many other factors are more likely to increase your premium.

Many drivers ask “is insurance higher on red cars?” when choosing which color they want for their vehicle. Though this is a common myth, many other factors are more likely to increase your premium. Read more to learn if color really does matter when picking a car.

Do White Cars Have Higher Insurance In The Us Kelley

https://www.kbb.com/car-advice/insurance/do-white-cars-have-higher-insurance/

Is a White Car Cheaper to Insure? Although white is the most popular car color, the color of your vehicle will not affect your car insurance rates. Are White Is a White Car Cheaper to Insure?Are White Cars More Expensive to Insure?

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Where Did The Myth Come From

Red has been associated with fast, high-end cars, whose drivers may get more tickets, raising their insurance rates as a result. So while sports cars are more expensive to insure because they are often driven faster, its the type of car, not the colour that affects the insurance rate. Red being a common color for sports cars may have led to the misconception that the colour red itself leads to higher premiums. If owners of red cars pay more for insurance, its because of their driving habits or car type, not car colour.

The Myth Of Auto Insurance For A Red Car

Updated on Monday, October 5 2020| by Aaron Besson

There is a rumor that red cars have higher insurance costs than cars of another color. But that’s not actually the case.

At some point in time, a myth started going around that red cars cost more to insure. There is no data to support this. Color has no impact on your car insurance rates, and red cars do not have higher insurance rates.

There are factors that affect the auto insurance rates of red cars, but theyre the same factors that affect the premiums of cars of any color. The make, model and year of your car, and your driving and claims history have a much greater effect on your auto insurance premium than the color of your car. This article will go over:

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How Can The Drivers Of Red Cars Get Lower Insurance Rates

  • Probably not from a new paint job Even if you were to have your red car painted a different color, your premiums probably wouldnt go down right away. After you have been categorized as being in a particular insurance risk group, any changes that you make will need to be consistent.
  • Finding applicable discounts It is a far better idea to look for discounts that your car insurance provider can use to reduce your rates. Any anti-theft devices such as alarm systems and special locks can help you to get a discount on your car insurance premiums.
  • Keeping a safe driving record By avoiding accidents and receiving few driving infractions, you will see your auto insurance rates go down when it is time to renew your policy. At first, your premiums might not be reduced by much, but any reduction in price is a good sign.

Within a year or two, your rates will be much lower despite the fact that you are still driving a red car. Remember, the owners of red vehicles can be safe drivers, too. Make an effort and you will see the difference.

Car Insurance Companies Dont Factor Color Into The Cost

The color of your car doesnt affect your car insurance rate. In most cases, your insurance company doesnt even know the color of the car you are driving. Insurance companies know your vehicle identification number but the color of your car is not included in a VIN. Insurers dont care about your Ferrari-red sports car – only if its an actual Ferrari.

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Which Factors Make Cars Expensive To Insure

Here are three key factors that typically make cars more expensive to insure :

  • Imports : Its no secret the most expensive vehicles to insure are imports such as BMW, Audi, Mercedes Benz, and Porsche. Sticker price will impact how expensive insurance is.
  • Repairs : The cost of parts and complexity to fix a vehicle is a key factor, and a reason why imports and expensive cars cost more to insure.
  • Theft : Expensive cars are commonly targeted for theft. However, thieves also target vehicles that are easy to steal. Before purchasing a vehicle, check to see if it ranks on the list of most stolen vehicles.

Factors That Do Affect Your Car Insurance Premium

No, Red Cars Don’t Cost More to Insure

Knowing which factors may increase your auto insurance premium is more important than what doesnt affect it at all. Here are some consistent factors that may shape your yearly auto insurance cost:

  • The make, model and age of your car
  • How expensive the vehicle is
  • How much you drive
  • Claim history
  • Auto insurance policy coverage, limits and deductible

When getting a quote for auto insurance, make sure to ask your provider about which discounts are available to you. Almost all of the factors involved with calculating your car insurance premium have a discount of some sort associated with them. Optimize your discounts to get the best auto insurance rate possible.

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Does The Color Of Your Car Affect Your Car Insurance Rates

So if red doesnt make your insurance higher, what about other colors?

Experts say it doesnt matter for your auto insurance rates because insurance companies are concerned about other factors.

In a couple of decades of purchasing various cars and insurance, I have never been asked the vehicles color, says Manos.

Thats because insurers are more worried about other details. Your vehicles color is irrelevant because it doesnt affect the way you drive or your cars safety, says George. Instead, insurance companies care about your cars safety and theft rates, questions that are revealed when they ask for your make, model or vehicle identification number.

In fact, having a red car could be a very good thing, according to a 2012 study by CCC Information Services. The study found that car thieves choose red last, instead preferring the nondescript color of silver for their criminal endeavors. After silver, cars in green, gold, black and white were the most popular for auto-related crimes.

Theyre very common because theyre very in demand, and thus a thief would have less difficulty reselling it, says Fabio Rosato, Founder of Roadologist.com.

Emily Deaton, a financial journalist at Let Me Bank, says that theft isnt the only problem with dark or neutral-colored cars, citing that darker cars can pose greater problems due to difficult visibility in harsh weather or during nighttime.

Does Car Color Affect Insurance

Fact-checked with HomeInsurance.com

Does car color affect insurance? Many variables go into calculating an auto insurance premium, but car color isnt one of them. This doesnt mean that car color cant indirectly impact auto insurance, though. There are situations, such as higher demand and lower supply for a specific color, that can increase the cost of a car and thereby increase its premiums.

We asked insurance expert Laura Adams how car color plays into auto insurance premiums and she said, The color of your vehicle is never a factor in your car insurance rate. However, she added a caveat: A red car could indeed cost more to purchase if its in high demand, or a dealer must pay extra to special-order it.

So, is insurance more expensive for red cars? That depends. Below we dive deeper into how car color and auto insurance interact.

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Do Red Cars Have Higher Auto Insurance

In short, no. Auto insurance companies have many factors they use to rate drivers based on the amount of risk they pose, and car color is not one of them. When you go for a quote, whether it’s through Geico, Allstate or another large insurer, they will never ask you for your car’s color. We’ve reviewed rating manuals that auto insurance companies use to calculate how much premiums they charge, and there are no rules for the color of a car in the quoting process. There is no way for your company to know the color of your vehicle.

Here Are Some Savings Tips If Your Car Is Expensive To Insure

For some drivers, expensive car insurance is not a deterrent. You want a specific car, even though it is more expensive to insure, in relative terms. But this doesnt mean you still dont have the ability to save.

Even though your vehicle may be more expensive to insure than the average vehicle, you can still reduce insurance costs with these 45 tips to save on car insurance. If you are thinking about getting a new car learn about the cheapest cars to insure in Ontario.

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