No, red cars do not cost more to insure. The color of a car does not affect the cost of insurance, but other vehicle features do. Insurance premiums are based in part on a vehicle’s make, model, year, body type, and engine size, as well as the car’s sticker price, average repair costs, safety record, and risk of theft.
Some insurers offer discounts for cars with safety features that help to reduce or prevent injuries or theft, such as daytime running lights, passenger and side airbags, and anti-theft devices. But insurance companies won’t even ask the color of your car when writing your policy, because it has no effect on the price.
Where does the red car insurance myth come from?
Many people think red cars are more expensive to insure because they have been linked to speeding or reckless and aggressive driving. In reality, studies investigating the relationship between car color and driving risk have found little to no correlation between color and accidents, tickets, or theft.
When it comes to the risk of being pulled over, studies have shown certain models are more likely to be stopped by police than others, but not certain colors. White cars have the lowest statistical risk of being in an accident, but red cars are no more likely to be in an accident than black, blue, silver, green, or any other color that registers below white on the visibility spectrum. And silver cars have the greatest statistical risk of theft, not red ones.
To date, no conclusive study has proven that car color has any measurable effect on safety or risk. Red may be associated with a flashy, all-American sports car, but insurance companies don’t penalize all red-car lovers because of it. You’ll pay lower premiums for family-friendly, conservative vehicles like SUVs and minivans and higher premiums for a fast-and-furious dream car, no matter what color.
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