Many motorists have long believed that the color of their car, specifically red, is going to affect how high their insurance premiums are going to be. This myth is not necessarily true in and of itself. Red cars are not considered to be any more expensive than any other color when factoring the cost of insurance rates.
The kind of vehicle that you are driving has a bearing and, in some instances, perhaps, the type of paint that is used may have an impact on the rates that the carrier calculates. A lot of the time, red paint is used in variation to sports-type or luxury versions of cars whereas metallic paints and other specialized paints will increase the value of a vehicle which will, in turn, cause the insurance rates to be elevated. You should get multiple quotes to see if your particular ‘type’ of red car is going to be more costly to insure.
The insurance company is also going to take into account the driving history of the driver of the red car. If an insurance carrier has a young, male driver attempting to insure a red sports car after having multiple accidents, they will most likely raise his premiums significantly.
When Color Affects Your Premiums
There are factors that play along with the color of the car that causes the rates to go up as opposed to the color alone causing the increase. Despite the fact that you may have the desire to buy a red car as it may be a reflection of how you want the world to perceive your personality, the auto insurance carrier may place you as a high-risk due to the color in combination with other factors.
For example, if you are a single person who is under the age of 25 with a poor driving record who buys a red car, this could be a red flag for the insurance company that you will be a high-risk as a driver.
At times it’s not necessarily the color of the paint that’s the issue but rather the kind of paint that is used that causes the inflation of price. There are car manufacturers who use special pigmented paints to brand their particular automotive color which will raise the value of that particular car. Paint families such as these include:
- Metallics
- Higher glosses
- Speckled metallics
These cost much more to make and would, therefore, cost much more for your insurance company to replace if there were a loss. This would mean that you would be paying a higher premium for this vehicle.
Are Red Cars Involved With More Accidents/Traffic Violations?
Red is eye-catching and folks believe that red vehicles attract the police’s attention more so than most cars, but this only happens if the person driving has done something to bring attention to themselves.
Red cars do stand out on the road, but the colors developed now are not as flashy as they once were. There are a variety of different types of red paints available on cars on the market now and many drivers of those cars have not been in any accidents or pulled over because they are simply driving carefully and being more responsible.
Can Drivers With Red Cars Get Lower Rates?
If you have been identified in a particular risk group by insurance carriers, it wasn’t solely based on the fact that your car is red in color. There were factors in culmination with that which affected your risk assessment; so painting your vehicle another color will have very little effect on your rates. There will need to be changes, as far as the other risks, in order for your rates to begin to decrease and that happens slowly and gradually over time.
- Discounts. Search out discounts that your carrier will be able to provide in order to reduce the premiums. Use an alarm system or safety devices to prevent theft which will give you a break on rates.
- Record. Improve your driving record by taking preventative steps against traffic infractions and any accidents. This will slowly reduce your premiums each time renewal comes up.
- Credit. There are some insurance carriers that view your credit score in order to determine your insurance score which will affect your insurance rates. If you have a poor credit score, your rates will be higher as they view this as someone who could potentially file more claims. If you improve your credit score and have the carrier recalculate each year, your rates may go down.
Probably the largest influence on your car insurance is your driving habits as opposed to what color your vehicle is. If you’re a poor driver who approaches your insurance carrier to insure a brand new red Lamborghini, they may balk.