Do Red Vehicles Cost more to Insure than other Vehicles

Auto insurance experts say, without exception, that red vehicles do not raise a red flag in car insurance premiums. Some insurance agents claim to not have a clue where the myth about red cars originated, while others offer a bit of insight on the costs of insuring red vehicles. Does it cost more to insure red cars? The answer is yes, and no.

The make and body style of your vehicle is a major determining factor on your insurance rates based on safety statistics, the price, and how attractive your vehicle is to thieves. (theft statistics) Additionally the type of coverage you purchase determines how much money you will pay for your car insurance.

Logically it costs more to repair luxury and expensive cars than lower cost vehicles. The IIHS (Insurance Institute for Highway Safety) keeps statistics on how often the different makes and body styles are involved in accidents. If you happen to have a red vehicle with a high price tag, you can expect to pay the higher premium along with others who drive similar vehicles.

If you’re under the age of twenty-five and drive a red sports car, you can bet that you’ll pay a higher premium factored on your age, driving record, safety statistics of your car, occupation, (certain states) and credit score. The color red is popular for many high priced sports cars, and here again, chances are good that statistics reflect higher premiums for red sports cars.

One theory about people who drive red cars is that they tend to be aggressive drivers. I found no statistics to back up this theory, but age, driving experience coupled with preference for high performance cars may be important factors. It is known that the color red excites people and grabs their attention, and perhaps the theory of color psychology may provide some insight.

The color red makes people sit up and take notice. It clearly stands out in traffic lights, fire engines, and stop signs. The color red screams “look at me.” Some have referred to the color red as arrogant and self-seeking in the way it affects drivers. We know that the color red is an exciting color that can evoke love or anger and it certainly gets drivers noticed if they are aggressive behind the wheel.

Should you buy a red car? By all means, buy a red car if that is your preference. You can rest assured that the color of your vehicle won’t be held against you.

If you’re a responsible driver with years of driving experience with a good driving record, you can expect to pay the same premiums as other driver who drive similar makes and models. If your driving record is spotty, and your car is a high performance pricey vehicle, then yes, you can expect to pay more for your red car, auto insurance premiums.