How did you settle on choosing the color of your car ? For most people, you choose a coloring material you know you like and that you won ’ metric ton get tired of seeing. After all, you ’ ll be driving this cable car for a long time .
so you choose a color based on your personal preference. If that happens to be loss, good, you ’ ve probably listen from person that red cars cost more to insure.
It ’ randomness become a democratic belief that continues to spread, but it ’ s a myth. sol hopefully you never factored that in when choosing your car. therefore why do people believe it and where does the myth come from ?
Does having a red car increase your insurance?
According to a study done by InsuranceQuotes.com, 44 percentage of Americans believe that owning a crimson car means having higher premiums flush though it ’ second completely false. Having a bolshevik car will not have any consequence on any part of your policy .
policy companies consider many things when calculating your rate. The color of your car is not one of those factors.
In fact, insurers won ’ t ask you for the discolor of your car when you get a quote. insurance companies want to know the year, make, model, and Vehicle Identification Number ( VIN ) .
Instead of color, the kind of car you own will affect your insurance. A high-end import car will be more expensive to insure than a standard mainstream exemplar .
Will you get pulled over more in a red car?
It’s also a myth that red cars get pulled over more than cars of other colors. And while there have been studies that show certain models of cars get pulled over more, those results aren ’ t the strongest .
In 2016, Insurance.com reviewed data claims and traffic trespass data for over 300 car models and revealed that the most ticket vehicles were a mix of luxury and economy .
But keep in beware that police aren ’ t flagging down drivers because of their car. It ’ mho always to do with the driver ’ sulfur behavior. But the data can be viewed as what vehicles attract drivers who are more prone to traffic violations .
The indirect effect of the red car insurance myth
so what ’ s contributing to the myth ? And how come so many people believe in it ?
Studies and statistics are inconclusive. But some seem to hypothesize that drivers behind the wheels of red cars and flashy sports cars tend to get more tickets than other vehicles .
The ongoing theory is that drivers with those vehicles tend to take more chances behind the wheel than those who drive other colors and cars.
Since they take more risks with their drive, they will likely pay more for car indemnity because they have more tickets and/or claims on their drive records. so unwittingly, the crimson cable car indemnity myth could affect your premiums. Just in a very devious way .
When color does matter
The color red doesn’t necessarily affect your insurance rates, but it’s possible that a custom paint job will.
Custom paint jobs can be considered by some indemnity companies as extra custom parts or equipment. Even if it does increase your premiums, it won’t be by much. It ’ ll be a minor added tip at best .
But in the subject of car colors most frequently stolen, consider yourself golden if you have a red car. In 2012, CCC Information Services reported that car thieves prefer going after green, gold, blacken, and white cars. Silver is the most normally stolen car coloring material .
In this case, having your car stolen will most probable increase your rates as you will have to file a claim. But only if you have comprehensive insurance .
Factors that do affect your premiums
In the conclusion, it ’ s not about your car color. If you want to buy the crimson cable car, barely know that it won ’ metric ton increase your policy. It ’ s a myth with no inquiry or statistics to back it up.
What does affect your premiums are your driving record, claims history, and some other factors you might not be able to change. sol go ahead and buy that crimson cable car if you want to. A red car won ’ thymine cost you more than a black, silver, green, or blue sky car .
here are a list of things that indemnity companies factor in when setting the cost of your premiums :
1. Your car
Insurers look at the type of car you drive. Some cars are more expensive to insure because they cost more to repair .
You can see the affect of your car on your indemnity rates using our car policy calculator cock .
2. The number of miles on your car
The more you drive, the higher opportunity you have of being in an accident .
If you ’ ra driving day in and day out to go to work, you ’ re besides more likely to be driving during bang hour. This besides contributes to increasing your premium .
3. Your driving record
If you have a clean driving record, your premium will automatically be less. Car policy companies care about how accident-prone you are. The less likely you are to get into an accident and file a claim, the cheaper your premiums will be. This is because you will cost less money to insure for these companies .
Most insurance companies offer a estimable driver discount to those who have been accident, misdemeanor, and claims free for a certain number of years .
4. Where you live
Where you live and where you park your car affects your premium vitamin a well. typically, urban areas are more dumbly populate and consequently have more incidents of larceny and vandalism .
5. Your age
unfortunately, car policy is more expensive for drivers under 25 years previous. New and younger drivers tend to pose a greater hazard on the roads .
6. Your gender
Men tend to be considered high gamble drivers and are involved in more accidents than women. They normally pay a higher insurance premium .
7. Credit history
insurance companies believe that there ’ s a correlation between credit score and your driving behavior. sol if you have a lower credit score, you will be paying more for car indemnity .
8. Relationship status
Insurers tend to view marry couples as being safer drivers. statistically, they are involved in fewer accidents. So policy companies normally offer a rebate if you have a spouse .
9. Coverage and deductibles
It depends on what you can well afford, but the higher your coverage and the lower your deductible, the higher your rate. If you can raise your deductible, you should try to do that.
10. Insurance claims history
If you ’ ve filed a claim, this will most surely affect your bounty and cause it to go up. I nsurers believe that once you’ve been in an accident (even if you aren’t at fault), you’re more likely to get into another one.
11. Previous insurance
Always try to maintain continuous indemnity. If you have a break in your indemnity coverage — even if it ’ randomness for one day — can result in you paying fines and getting your driver ’ sulfur license and registration suspended. It besides signals to insurance companies that you are a high-risk driver and therefore could pay more for insurance.
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