Some drivers wonder if the color of their car affects insurance rates and what color cars are cheaper to insure. studies have found little direct connection between the color of a vehicle and insurance rates, however, the color of a vehicle may indirectly affect insurance rates in some way.
what color cars are cheaper to insure?
Many factors go into calculating insurance rates, both directly and indirectly. color can indirectly affect your insurance rates. for example, a color that is more in demand can increase the price of a vehicle, which in turn can increase rates. According to a study by axalta and a report by cover.com, these are the most common car colors and the part of vehicles made in that color:
- white: 29%
- black: 19%
- gray: 17%
- silver: 11%
- blue: 10%
- red: 9%
- brown/beige: 2%
- green: 1%
- years of driving experience
- driving history
- vehicle make and model
- credit score
- Compare: Searching and comparing quotes from different insurance providers is the best way to find the cheapest rates and the right amount of coverage for you. request at least three quotes, each with a similar level of coverage and deductible.
- Check insurance discounts: Many insurance companies offer discounts. find out if you’re eligible for discounts by asking while you’re getting quotes.
- Improve your driving record: One of the most important factors in your insurance rates is your driving record. If there are already some negative marks on your record, consider taking a safe driving course to bring your insurance rates back down.
- Drive an economy vehicle: A lower priced vehicle will generally cost less to insure, while vehicles with luxury features cost more due to the cost of their parts.
- Consider your location: Your location, including where you park your vehicle and where you travel to, will affect your insurance rates. High-traffic areas will generally result in higher insurance rates, while parking your vehicle in a garage can lower your rates.
- adjust your coverage amounts: choose the level of coverage that’s right for you.
- Join a family policy: Younger drivers will generally pay the highest rates because they are less experienced, so joining a family policy could help lower your insurance rates.
- Think before you file a claim: Depending on how much your vehicle will cost to repair, it may be cheaper to pay out of pocket to avoid filing a claim. you can usually expect an increase in rates when you file a claim.
According to this, vehicles that are white or black are likely to cost more to insure, as they are more in demand for colors.
The color of your car can also indirectly affect insurance rates in other ways. some vehicles are less likely to be stolen. According to vox.eu, brighter colored vehicles are more easily noticed, meaning they are less likely to be stolen. also, brighter colored vehicles can be more difficult to resell, reducing their value. With less risk of theft and a lower value, insurance companies are more likely to give you a cheaper rate.
A common myth is that red cars are more expensive to insure. however, according to wallethub, this is not the case. red cars can cost more when purchased, but this doesn’t always correlate with higher insurance cost.
how custom paint jobs affect insurance rates
While the color of your vehicle typically won’t directly affect your insurance rates, a custom paint job will. This is because a custom paint job will cost more to repair or replace if damaged. Anything that increases the overall value of a vehicle can also increase insurance rates. It’s always a good idea to notify your insurance company if you add a custom paint job or modified parts to your vehicle to make sure you’re covered.
factors that directly affect insurance rates
These factors have a greater impact on your insurance rates than the color of the vehicle:
One of the biggest factors influencing insurance rates is the driver, so having a clean driving record and improving your credit score can help keep your insurance rates lower. the make, model and year of your vehicle will also make a difference, regardless of color.
The level of coverage you have is also an important factor when it comes to rates. full coverage insurance policies, with comprehensive and collision coverage included. will cost more than the minimum coverage. your deductible also matters. A deductible is an amount that you will have to pay when you file a claim. The higher your deductible, the lower your monthly insurance premium or cost. But keep in mind that if you opt for a higher deductible and have to file a claim, you’ll have to pay more out of pocket.
how to find the best insurance rates
Buying a vehicle based on its color is unlikely to save you much on insurance, but there are other things you can do to find the best insurance rates:
In addition to comparing quotes when shopping for an insurance policy, it’s also important to periodically assess your insurance needs. If your driving record, credit score, or any other factor changes, it may make sense to reconsider your options. This is especially true if your risk decreases, such as when you turn 25 or pay off a car loan. reassessing your needs and communicating with your insurance representative also ensures that you are receiving all the discounts available to you.
color has little direct impact on your insurance rates, it can affect demand and the value of a vehicle.
Check this out if you need additional information, resources, or guidance on auto insurance.