It is really a myth that the color of a car affects your car insurance rates so there are no colored vehicles we could list for you that are cheaper than other colored vehicles.
About 25% of people surveyed believe that color affects the cost of your car insurance but in all actuality auto insurance companies do not consider the color of your automobile when determining your insurance premium. Many people have the misconception that red or silver cars cost more to insure than white or tan ones. This is not true; the type of vehicle underneath the silver or red color may affect your car insurance rates but not the actual color of the vehicle.
Some people have suggested that insurers use the Vehicle Identification Number (VIN) to determine the car color and use that information, along with other rating factors, to calculate rate for a car. But the car color is not one of the details encoded into a VIN. The VIN can be decoded to tell specifics about the vehicle, such as make, model, year, body style and engine size but not color. A VIN is typically needed by an insurance company to properly transmit your insurance information to your state's DMV database
So technically, unless your insurer asks you the color of your car when you buy your car insurance policy, they really have no idea what color it is. Even if your insurer takes pictures of your vehicle for physical damage coverages (Comprehensive and Collision) this is to note the shape that the car is in and make sure there is not any pre-existing damage, not to note the color and rate on it.
Some factors that insurers do consider when determining auto insurance premiums include your age, the kind of vehicle you drive, your claims history, in some states your credit history and your record. See the lists below for a more comprehensive list of factors that various insurance companies may take into account when determining rates.
- Your age
- Marital Status
Factors you CAN change that impact your auto insurance rates:
- Accident claims
- Driving violations
- Your vehicle
- Credit rating
Other potential factors that go into determining premiums:
- Years of driving experience
- Miles driven per year
- Distance to work
- Business use of the vehicle
- Whether or not you currently have auto insurance
- Theft protection devices (often results in discounts and doesn't affect rating, but it affects the price)
- Multiple cars and drivers (another opportunity for discounts and doesn't affect rating, but it affects the price)
There is also the belief that certain car colors, especially red, get more tickets than other colored car in which case your car insurance rates could be affected by having more tickets. However there are no official studies to confirm that red cars do get more tickets. There is also a theory that red cars can create an optical illusion that makes them appear to be going faster than they really are but that has not been proven.
Some suggest the bold color tends to attract more attention from everyone, including police officers. This has not been proven in studies either though. One study that looked at the frequencies of speeding tickets by car color compared with the frequencies of cars on the road by colors found red, grey, and brown cars were more likely to receive speeding tickets than cars of other colors. So while red was on this list the others colors are not bold or bright colors. Thus the theory that bright colored cars give the impression of speed, which results in a higher estimation of its speed, was not supported by this study.
Since color is not a factor when an insurance company determines your premium you should buy a car in a color that you like. To keep tickets from affecting your rates, whether you are driving a bright or dull colored car, follow traffic laws so that you are not stopped and cited by police for infractions such as speeding.
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