Are Red Cars More Expensive To Insure

Here are a list of things that insurance companies factor in when setting the cost of your premiums.

Are red cars more expensive to insure.

Red cars are more expensive to insure. Richard lautens toronto star via getty images if you drive a red car it might seem like the world is out to get you. So go ahead and buy that red car if you want to. There are a variety of risk factors that auto insurance providers consider such as your age gender your.

A red car won t cost you more than a green yellow black or blue car. Answer the notion that your car s color affects your rates is a myth. So feel free to pick out the red sports car just realize it may cost you more to insure than the red minivan. Insurers are interested in the year make model body type engine size and age of your vehicle.

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 brand new porsche is expensive to insure but that has nothing to do with the red paint. 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.

Insurers look at the type of car you drive. Some cars are more expensive to insure because they cost more to. It s true that some vehicles are more expensive to insure than others but any difference is based on hard data. A red car won t cost you more than a black silver green or blue car.

You re less likely to escape the notice of the highway patrol or. 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. By cherise threewitt apr 3 2015. You may have heard red cars are more expensive to insure.

Do red cars cost more to insure. The audi r8 cranks out 602 horsepower and can go over 200 miles an hour. 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.

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. Yet they re doubly mistaken.