Are Red Cars More Expensive To Insure

Red cars are more expensive to insure.

Are red cars more expensive to insure.

By cherise threewitt apr 3 2015. There are a variety of risk factors that auto insurance providers consider such as your age gender your. But according to the insurance information institute iii the color of the car you drive does not affect the price of auto insurance here are some of the factors that help determine your auto premium and what to look for when shopping for car insurance. Insurers look at the type of car you drive.

Twenty nine per cent of those surveyed thought auto insurance premiums were more expensive for red cards while 54 per cent believe that to be the. Not only does color have nothing to do with car insurance rates a particular model s risk isn t determined by the number of tickets its owners receive. Do red cars cost more to insure. You may have heard red cars are more expensive to insure.

A brand new porsche is expensive to insure but that has nothing to do with the red paint. A car with a high frequency of claims or a record of more expensive claims will be more costly to insure for everyone who buys that model of car. Certainly a radar gun or speed camera doesn t know the difference between flashy red and sedate beige. Here are a list of things that insurance companies factor in when setting the cost of your premiums.

A sky high price tag the r 8 starts at 170 000 combined with a huge engine and an out of this world top speed will always lead to an expensive insurance. It s true that some vehicles are more expensive to insure than others but any difference is based on hard data. You re less likely to escape the notice of the highway patrol or. Yet they re doubly mistaken.

The risk level of the driver is a separate issue from the risk factor of the car. For example we know that a full size pickup truck is more likely to cause more damage than a compact car when it hits something. Some cars are more expensive to insure because they cost more to. A red car won t cost you more than a black silver green or blue car.

Insurers are interested in the year make model body type engine size and age of your vehicle. Answer the notion that your car s color affects your rates is a myth. So go ahead and buy that red car if you want to. The second most expensive to insure car is a full on sports car with a 5 2 liter dual injection v10 under the hood.

Richard lautens toronto star via getty images if you drive a red car it might seem like the world is out to get you. A red car won t cost you more than a green yellow black or blue car.