Most people take hours when buying a new automobile to decide on the ideal shade of color whether a vivid red, a smooth black shade or a traditional white shade. However, there is a question that pops out most of the time: Does the color of your car affect your insurance rates? There has been a long held myth that red cars are a higher cost to insure, however, this myth can be proven wrong. It is time to separate fact and fiction and learn what actually determines your auto insurance premiums.
Myth vs. Reality: Does the Car Color Matter?
It has been perceived over the years that flashy colors such as red or yellow have higher chances of getting speeding tickets or theft which results in increased insurance premiums. Insurance companies do not really take into account the color of your car when it comes to calculating your rates. What they are interested in are factors that affect the level of risk, cost of repair and driving habits.
When you make an application for auto insurance, the company will request for your vehicle make, model, year, and Vehicle Identification Number (VIN). The VIN will inform the insurers about your car, such as the engine size, the safety features, and where it was built. In the data, there is no mention of the car color used or recorded to determine your premium.
Factors that Affect Auto Insurance Premiums
Although the color does not matter, the following are some of the main factors:
There are vehicles, which are more costly to repair or replace. Premiums of luxury cars or sports models tend to be higher as their parts and labor costs are more expensive.
Newer cars tend to be more expensive to insure because their replacement value is higher, and older ones may be less, this does not apply to a car that is not modernized in safety features.
Vehicles which have sophisticated security systems such as automatic braking, airbags and lane assist would earn you discounts on affordable auto insurance. Vehicles that lower the risk of serious accidents are rewarded by the insurers.
If you have a history of traffic violations or accidents, then you will pay more. Safe and responsible drivers are offered better rates.
The location you live influences your premiums. Cities are at a higher risk of accidents or theft, and therefore may be higher than in rural regions.
Some states have insurance companies that base their reliability on your credit score. Good credit can help you access affordable auto insurance.
The longer the time spent on the road, the higher the risk of an accident. If you travel long distances on a daily basis, your insurance cost will reflect it.
Why the Red Car Myth Persists
The myth of the red car was likely started due to the fact that a brightly colored car is more noticeable on the road and possibly because of the fact that people associate red with danger and speed. Although it is definite that some colors attract attention, no statistics can prove that red car drivers are more likely to be ticketed, and thus are more likely to pay more insurance premiums.As a matter of fact, insurance companies adhere to models that are data-driven, rather than color stereotypes. And though you may be driving a vibrant yellow sports car or a silver sedan, your premium depends on the driving habits, risk profile and not what you have painted your car.
Selecting the Appropriate Auto Insurance
Color does not influence your rates so the best way to save money is to choose the appropriate coverage. Find affordable auto insurance that is reasonable and offer solid protection without cutting corners.A good policy should include:
- Bodily injury and property damage liability coverage.
- For damage to your vehicle, collision coverage.
- Comprehensive coverage for natural disasters, theft or fire.
- Uninsured motorist coverage in case you get hit by someone without insurance.
It is important to always compare quotes and coverage options of reliable providers such as America’s Best Auto Insurance. Working with a seasoned insurance team assists in making sure that you are not overpaying and that you are insured to stay safe on the road.
Therefore, does the color of your car have an influence on the insurance rates? No it does not. Although a red car may get everyone’s attention, it will not increase your premium. It is really the driving record, vehicle safety and coverage choices.At America Best Auto Insurance, we facilitate the process of giving drivers auto insurance that is reliable and affordable yet fits their lifestyle and budget no matter what color car they are driving.
Contact America’s Best Auto Insurance to get a quote and learn how simple it is to secure reliable auto insurance in Dallas,TX at an affordable price. Get your ideal coverage at the touch of a button or a dial.
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