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. The risk level of the driver is a separate issue from the risk factor of the car. There are a variety of risk factors that auto insurance providers consider such as your age gender your. Yet they re doubly mistaken. 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. You re less likely to escape the notice of the highway patrol or. 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.

Red cars are more expensive to insure. A red car won t cost you more than a black silver green or blue car. So feel free to pick out the red sports car just realize it may cost you more to insure than the red minivan. Here are a list of things that insurance companies factor in when setting the cost of your premiums.

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. A brand new porsche is expensive to insure but that has nothing to do with the red paint. It s true that some vehicles are more expensive to insure than others but any difference is based on hard data.

Certainly a radar gun or speed camera doesn t know the difference between flashy red and sedate beige. 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. Insurers are interested in the year make model body type engine size and age of your vehicle. So go ahead and buy that red car if you want to.

By cherise threewitt apr 3 2015. Do red cars cost more to insure. 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. The audi r8 cranks out 602 horsepower and can go over 200 miles an hour.

The type of car you drive car truck convertible and model vehicle is taken into account but not the color of your 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.