Fact or Fiction: Do Red Cars Cost More to Insure?

Last updated July 11, 2022

Fact or Fiction: Do Red Cars Cost More to Insure?

Picture this: you head to the car lot to pick out a new car. You choose the perfect make and model for your lifestyle. Now, it’s time to choose the color. If you’re looking at a sporty red hue, you might find yourself wondering, Do red cars cost more to insure?

For years, there has been a rumor that insurance is more expensive on red cars. But is that actually true? Keep reading to see if insurance is high on red cars.

Do red cars cost more to insure?

You’ve probably heard red cars are more expensive to insure. After all, red is often considered a “risky” color associated with danger. But we have good news for you! Whether your car is “Arrest Me Red” or “Hide in Plain Sight White,” it doesn’t affect the cost of auto insurance.

So, are red cars more expensive to insure? No! Insurance companies do not factor in the color of your vehicle when determining your car insurance rate.

What factors do impact your car insurance rate

While red cars are not more expensive to insure, other aspects of your vehicle can impact your auto insurance rate.

How Much Your Vehicle Costs – more expensive cars typically cost more to insure because insurance companies consider the likelihood of theft and how much it would cost to repair your vehicle in the event of an accident when calculating an insurance rate.
The Make and Model of Your Vehicle – insurance companies may consider the make and model of your car to determine how much damage it would cause another vehicle if involved in an accident, and they may consider how much it will cost to repair your vehicle.
Your Vehicle’s Engine Size – your engine size plays a part in your car’s overall safety rating, which can impact your insurance rate.
Your Vehicle’s Age – older cars are typically less expensive to insure than newer cars because they are considered less valuable in terms of cost.

Still, the specifics of your car aren’t the only thing insurance companies consider when determining your auto policy rate. Other factors include:

Your Age – younger drivers usually pay more for auto insurance than older drivers because they are less experienced on the road and, therefore, considered more of a risk.
Your Gender – males pay more for auto insurance on average than their female counterparts.
Your Driving History and Record – the better your driving record, generally the less you’ll pay for car insurance. Some insurance companies even offer “safe driver” discounts!
Your Location – the cost of car insurance varies by state and city. Your auto insurance may cost more if you live in an area with a high rate of vandalism or theft.
Your Credit – insurance companies may use your credit score to determine your rates.
How Much You Drive – if you drive your vehicle often, you may pay higher insurance premiums because being on the road increases your risk of getting into an accident.
The Type and Amount of Auto Insurance Coverage You Select – when it comes to choosing your auto insurance coverage, you have many options. You can choose the minimum amounts required in your state or select additional coverage for more protection. The type and amount of car insurance coverage you choose will impact your overall cost.

How to get the best car insurance rate

So, is insurance high on red cars and do red cars cost more to insure? No! You don’t have to worry about your car’s color impacting your insurance rate.

However, other aspects of your vehicle will impact your rate. That’s why it’s essential to shop around to find the best car insurance company for you. At Rate Retriever, we use a simple form to match you with the top providers for your driver profile. Compare auto insurance providers today!

Sources

Insurance Information Institute- 8 Auto Insurance Myths

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results.

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you.

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.

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Fact or Fiction: Do Red Cars Cost More to Insure?