Do Red Cars Cost More To Insure?

It's time to sort through the myths and facts about red-car expenses. Generations of drivers have fantasized about cruising down a coastal highway in a flashy red car, listening to Prince's "Little Red Corvette" on the stereo. However, you may have heard claims that prompted you to keep walking when you saw a gleaming red car on a car dealer's lot. According to some studies, law enforcement is more likely to pull over and ticket a red vehicle's driver. And there are rumors that red cars cost more to insure simply because they are red.

The cost of auto insurance is determined by a variety of factors. Will, however, purchasing a red car cause you to see red when you receive your insurance bill?

What Factors Do Insurers Consider?

There isn't much research to back up the theory that red cars raise insurance premiums or cause more traffic stops, and what we did find suggests it's not necessarily true.

Insurance companies use a variety of factors to determine your auto insurance rate, but the color of your car is not one of them. The following are the most common rating factors:

  • Your gender and age: Male drivers are statistically more likely to be involved in traffic accidents. Similarly, certain age groups file a greater number of insurance claims than others. Insurance companies use such statistical trends to reduce their risk when determining premiums, though seven states prohibit the use of gender when pricing auto insurance: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, and Pennsylvania. If you list multiple household members as drivers, their ages and genders can also affect your rate.
  • Your driving record: When you purchase an auto insurance policy, the carrier will want to know about your driving history for the previous three to five years. Drivers with traffic violations, such as at-fault accidents or speeding tickets, frequently pay higher premiums because providers regard them as high risk.
  • Your credit history: When determining car insurance rates, most insurance companies consider your credit rating. Only California, Hawaii, and Massachusetts prohibit insurers from using credit-based auto insurance ratings.
  • Your claims history: Auto insurance can come in handy when you need it, but filing too many claims will likely result in a higher premium.
  • Your location and where you park: Due to higher rates of accidents, car theft, and vandalism, car owners in urban areas typically pay more for car insurance than those in rural communities. Those who park their cars in secure garages often pay less than those who park on the street.
  • Type of vehicle you own: The make, model, and model year of your car can affect your insurance rate because certain types of vehicles need more repairs, cost more to repair, or are popular with car thieves.
  • How much you drive: The higher your annual mileage, the higher your car insurance premiums will be.
  • Your coverages and deductibles: Auto owners who only carry state-mandated coverages typically pay less than those who purchase full coverage policies, and choosing higher deductibles can lower your rate. However, choosing a high deductible means you'll have to pay more out of pocket when filing a claim.

How Often Do Insurers Check Your Driving Record?

Receiving a speeding ticket or other type of traffic violation can result in a higher auto insurance premium, but not always right away. When you get an insurance quote, apply for a policy, renew a policy, add a driver to your policy, or change your coverage, carriers usually only look at your driving record.

State agencies typically issue driving records for the previous three years. When they request a report, insurance companies look for issues such as collisions, traffic violations, traffic-related convictions, and failure to appear in court.

  • Any moving violation can result in an increase in insurance rates. According to Progressive, for their first speeding ticket in three years, policyholders' premiums increase by 15% or more on average. Traffic violations typically remain on your record for three to five years.

Are Red Cars Ticketed More Often?

A widely disseminated and cited study published by CJ Pony Parts, an auto parts and accessories retailer, surveyed nearly 1,000 speeding tickets issued at four intersections in two countries. According to the study, the most frequently ticketed car colors were:

  • White: 19%
  • Red: 16%
  • Gray: 10%
  • Silver: 5%

But don't rely on the findings. In 2016, the Star-Telegram in Fort Worth conducted a similar study that looked at speeding tickets issued by Texas troopers. According to the newspaper's research, black cars were pulled over the most, followed by white, gray, and silver vehicles, with red vehicles coming in fifth. These claims can vary greatly depending on where you live.

The widely held belief that red cars are more expensive to insure is a myth. In fact, insurance companies do not consider the color of your vehicle when determining your rate, and many do not request this information.

Which Cars Are Ticketed Most?

More precise studies assess the frequency with which specific makes and models of automobiles receive traffic tickets. According to a 2020 Insurify nationwide study, the following percentage of these models received speeding tickets:

  • Subaru WRX: 20.49%
  • Volkswagen GTI: 17.38%
  • Subaru Impreza: 15.9%
  • Infiniti G37: 15.61%
  • Dodge Dart: 15.45%
  • Hyundai Veloster: 15.43%
  • Dodge Challenger: 15.09%
  • Dodge RAM 2500: 14.79%
  • Dodge Charger: 14.71%
  • Nissan 350Z: 14.65%

The Insurify study's findings were based on a national average of 10.54% for all makes and models of vehicles issued speeding tickets.

How To Keep Premiums Low If You Have a Red Car

So, if you drive a red car, you should take extra precautions to avoid speeding, improper passing, or trying to pass through a yellow light. And if you drive one of the most-ticketed vehicles revealed in the Insurify study, be even more cautious about following traffic laws.

There are steps you can take to get the best car insurance rate, regardless of the color of your vehicle.

  • If you're in the market for a new car, get insurance quotes for the make and model you want before you buy.
  • Look for a vehicle that has safety and security features like airbags, anti-lock brakes, and anti-theft systems. These features can reduce your risk of serious injury as well as the risk of your car being stolen. Lower risk can result in lower insurance premiums or more appealing policy discounts.
  • Automobile insurance companies provide a wide range of discounts. Young drivers often receive discounts for good grades, and more experienced drivers can lower their insurance rates by taking defensive driving courses. Many insurance companies also provide substantial discounts to customers who combine their auto and home insurance policies.
  • Think about increasing your deductible. While raising your deductible will require you to pay more out of pocket if you file a claim, lowering your rate will allow you to keep more of your money in the long run.
  • If you're dissatisfied with your current coverage or insurance rate, look for a new provider. Before purchasing a policy, obtain quotes from several insurers. Compare the prices of standard and optional coverages, as well as available discounts and discounts.

Frequently Asked Questions (FAQs)

Do red cars cost more to insure?

Insurance companies do not base your premium on the color of your vehicle. Several studies have failed to prove conclusively that red cars are pulled over or ticketed more frequently than vehicles of other popular colors. Traffic violations can raise your auto insurance premium regardless of the color of your vehicle, so practicing safe driving habits is the best way to get the best premium.

What factors most impact the cost of insurance?

Anyone's car insurance rate can be affected by factors such as driving history, location, and annual mileage. Your premium may also be affected by coverage limits and deductibles. However, the type of vehicle you drive is also an important consideration. Luxury vehicles, such as the Maserati Quattroporte S GranSport, have exorbitant sticker prices and are prohibitively expensive to insure, whereas more modest vehicles will not break the bank when it comes to car insurance.