It may be surprising to learn that many people believe that certain car colors can have an impact on insurance costs. In fact, some insurance companies say that they are asked often “do red cars have higher insurance?” In a study conducted by Insure.com, 46 percent of those asked said that insurance companies charge higher rates for red cars because they are pulled over more often by police. The fact is that white cars are pulled over more often than red cars, which came in second according to information released by the National Motorist Association. But that is not the only fallacy in this belief as the color of your car has no bearing on car insurance rates nor is risk determined by the number of tickets you get.
Does Car Color Affect Insurance Rates?
According to insurance experts, insurers never ask what color a car is when a customer requests a quote. The color of the car is not even a question on a car insurance application, so red car insurance is no more expensive than black, green or white car insurance. In fact, the insurance company has no idea what color vehicle you have purchased. Although your Vehicle Identification Number (VIN) is provided to the insurance company, the VIN does not reveal the car’s color. The VIN provides information on when and where a vehicle was built, the level of trim and may provide some warranty information, but it does not include the color of the vehicle.
Tickets and the Insurance Company
When an insurer looks at your driving record to determine your rates, they want to know whether you are a high-risk driver. Just one speeding ticket can raise your rates as much as 15 percent while two tickets can raise your rates by as much as 40 percent. That means that tickets do have in impact on rates, but only for the driver who got the ticket. Claims are a bigger factor to insurance companies as a claim costs the company money. Cars that seem to have higher frequencies of claims or whose claims to be higher than other vehicles will be rated higher. But those higher rates are paid no matter what color that model of car is. In other words, if you are buying a Corvette, your rate will be the same whether it is red or black.
When Color Does Matter
If you have a custom paint job on your car, your insurance rates may be higher as it would be considered an additional part or equipment. However, the rate would only be slightly higher than for a vehicle with a regular paint job. The color of your car may have in impact on other factors, however. In 2012, CCC Information Services reported that car thieves prefer green, gold, black or white cars with silver being the most commonly stolen car color. Red does not even make the list.
The bottom line is, if you want that shiny convertible or sports car, your insurance company really doesn’t care if it is red, black or green. Basically, the answer to “does car color affect insurance rates” is definitely no. If your beautiful red car has been damaged, contact Elmer’s Auto Body today for a no-obligation estimate for repairs. You can schedule an appointment through the online form or give us a call.