Are Red Cars More Expensive To Insure

You may have heard red cars are more expensive to insure.

Are red cars more expensive to insure. 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. There are a variety of risk factors that auto insurance providers consider such as your age gender your. So feel free to pick out the red sports car just realize it may cost you more to insure than the red minivan. The risk level of the driver is a separate issue from the risk factor of the car.

By cherise threewitt apr 3 2015. 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. 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. You re less likely to escape the notice of the highway patrol or.

So go ahead and buy that red car if you want to. The type of car you drive car truck convertible and model vehicle is taken into account but not the color of your car. Insurers are interested in the year make model body type engine size and age of your vehicle. It s true that some vehicles are more expensive to insure than others but any difference is based on hard data.

The audi r8 cranks out 602 horsepower and can go over 200 miles an hour. 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. A brand new porsche is expensive to insure but that has nothing to do with the red paint. Here are a list of things that insurance companies factor in when setting the cost of your premiums.

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. 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.

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. The second most expensive to insure car is a full on sports car with a 5 2 liter dual injection v10 under the hood. Do red cars cost more to insure. Yet they re doubly mistaken.

Answer the notion that your car s color affects your rates is a myth. Certainly a radar gun or speed camera doesn t know the difference between flashy red and sedate beige.