Are Red Cars More Expensive To Insure

Insurers look at the type of car you drive.

Are red cars more expensive to insure.

Yet they re doubly mistaken. 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. So go ahead and buy that red car if you want to. Certainly a radar gun or speed camera doesn t know the difference between flashy red and sedate beige.

You re less likely to escape the notice of the highway patrol or. It s true that some vehicles are more expensive to insure than others but any difference is based on hard data. Richard lautens toronto star via getty images if you drive a red car it might seem like the world is out to get you. There are a variety of risk factors that auto insurance providers consider such as your age gender your.

A brand new porsche is expensive to insure but that has nothing to do with the red paint. The second most expensive to insure car is a full on sports car with a 5 2 liter dual injection v10 under the hood. 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. A red car won t cost you more than a black silver green or blue car.

Here are a list of things that insurance companies factor in when setting the cost of your premiums. 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. The type of car you drive car truck convertible and model vehicle is taken into account but not the color of your car. You may have heard red cars are more expensive to insure.

Answer the notion that your car s color affects your rates is a myth. Red cars are more expensive to insure. A red car won t cost you more than a green yellow black or blue car. The audi r8 cranks out 602 horsepower and can go over 200 miles an hour.

Insurers are interested in the year make model body type engine size and age of your vehicle. By cherise threewitt apr 3 2015. The risk level of the driver is a separate issue from the risk factor of the car. 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.

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. Do red cars cost more to insure.