Does the Colour of your Car Affect your Insurance Premiums?

There are various factors that can affect how much your car insurance costs and many people assume that colour is one of them. In fact, a survey carried out by Insure.com concluded that 46% of drivers questioned believed that red cars were more expensive to insure. Is there any truth to this colour-related theory?

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Colour is irrelevant

Despite what many people might think, the colour of a car has absolutely no bearing on how much your insurance premiums will be. In actual fact, insurance companies don’t even ask what colour your car is when gathering information to work out your premium rates. They’ll want to know what make and model your car is and its age but when it comes to the shade of your wheels, they won’t give this a second thought. Certainly, the way in which you drive as opposed to the colour of the car you drive is far more relevant when assessing insurance costs.

Interestingly, it’s not just insurers that aren’t that bothered about the colour of your vehicle. When it comes to choosing a car, buyers aren’t too fussed about the colour either. According to the AA, just 3% of women and only 1% of men consider colour to be an important factor when purchasing a new car.

 

Where the rumour stems from

If 46% of those surveyed believe red cars bump up insurance fees, why has this become such a popular myth and where does this notion originate? In all probability, the fact that red is a favourite colour choice for sports cars could be the vital clue. Since sports cars tend to have a higher accident risk, they command much higher insurance premiums and therefore, the (rather tenuous) link between colour and insurance costs has been made.

According to Insurance.com, red cars are pulled over more often by the police but how many tickets a driver receives has no correlation to the risk of a particular model of vehicle.

 

When colour does matter

Although colour is not an influencing factor on the cost of your insurance, there is an exception to this rule. If your car has received custom painting, this could increase your insurance rate but only marginally. Why so? Well, probably because custom painting could be included as additional custom parts and equipment, which might then be added to your fee.

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Car colour and theft

It’s a well-known fact that cars that frequently get stolen are quite likely to cost more for comprehensive coverage. A survey carried out by CCC Information Services discovered that when it comes to car colour, silver is the most likely to be pilfered – followed by white, black, gold and green. Interestingly, red failed to make the top five car colours that are most commonly involved in thefts. So, in some ways, having a car colour that thieves don’t want could indirectly keep your car insurance costs down!

Whatever your car colour preferences, you can expect a great quality vehicle at a competitive price when you choose ALD Automotive’s vehicle leasing services. Give us a call for a friendly chat and we can discuss our vehicle leasing options in more depth. We look forward to hearing from you!

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