Do I Need to Worry About Car Color Affecting My Insurance?

FREE COST CALCULATOR! COMPARE 30+ CHEAP CAR INSURANCE QUOTES


  • Colors

Can Car Color Affect My Insurance?

Owners of automobiles know that they have to have vehicle insurance. It can vary in its cost. Many drivers want to know what negative aspects will raise the premiums. One of these of interest is the color of the car.

Does a Red Car Cost More to Insure?

There are many different colors of cars that are available. Some are more popular than others. Red is one that has always been on the popular list. A concern with this is will this color increase the insurance premiums? Many people think this is true.

It is true that red colors in vehicles make them more expensive to buy. So, based on this is an assumption that they will be more costly to insure. The color red does not cause the rise in insurance premiums. The cost of the vehicle itself, however, is important to the insurance companies.

What Color Cars Make Your Insurance Go Up?

There are some that want to know if any specific color of the car can make insurance premiums go up. Again, the answer to this is no. It is Insurance companies don’t care about the color. They do not take this into consideration.

What Color Car is the Cheapest to Insure?

Knowing that car color does play a role in the insurance premiums means there is no need to focus on the car color. At least not for insurance purposes.

Could Car Color Have an Indirect Effect on Vehicle Insurance?

For those that put some emphasis on statistics, those that relate to car color may be of interest. There have been various studies done that relate to what car colors are more prone to accidents. The statistics gathered can vary. These statistics vary because of so many components that can differ. For example, the region where vehicle driving takes place would play a big factor. A red car driven in a heavily congested area most likely be more at risk for accidents. If compared to the same red car that’s driven in less populated areas.

Why Should You Care?

Taking extra measures to help keep your driving record clean is a good way of keeping your insurance premiums down. It means looking at what could put you at a higher risk for accidents. Even if the Insurance companies don’t consider the color. Looking at the statistics can give some general insight. Then it is up to the vehicle purchaser to determine if they want to consider this information.

Study Data

Several studies seem to indicate that black car colors top the list for car crashed. Some figures show that this color is 47% is more likely involved in a car crash. Some say it is because black cars are harder to see. It could be because they appear to blend in more with the pavement. It is according to speculation. Other studies have focused on daylight driving. Their findings were that there as 12% likeliness that black cars would be in a crash. It is in comparison to white vehicles. However, as daylight diminished it increased to 47%. It was during the dawn and dusk lighting.

In respect to what some studies consider as the safest, it is the white, gold and yellow. It seems it is because these colors are the most visible to other drivers.

The colors of grey or silver along with red and blue seem to come in the in-between range. They’re considered to be poor on the safety for accident scale. Based specifically on color.

Studies can be contradictory. Another study showed that Silver was the safest color. However, this was a study based in New Zealand.

What Do Insurance Companies Focus On?

The choice of color as it relates to safety is interesting. The real focus should be on what the Insurance companies think about. Among these are details about the vehicle.

Insurance Companies rely on many different types of data. They will gather pertinent information about claims. It is information they can use to determine trends. These trends can affect the insurance premiums going forward.

What is CLEAR?

Clear is a system used by Insurance Companies. All of the data used in this system comes from previous insurance claims. It helps the insurers know what the risk factors may be. It relates to the specific vehicles.

The Clear system can help determine the risk a particular vehicle presents. Insurers will look at the frequency of claims made in regards to a specific vehicle. They will look at the overall cost for these claims. Plus, they are interested in the statistics as they pertain to vehicle theft. Clear uses a numbering system. The higher the score for a vehicle the higher risk it is. In turn, this data is used to help determine the premiums.

It is only one segment of data that are used for the Insurer to reach a premium conclusion. They will also use data provided by the manufacturers of the various vehicles.

Choosing the Right Insurance

Looking at car colors may be of interest to some. It does not affect the insurance premiums. Shoppers for Insurance need to focus on the other important factors. Not everyone is buying a new car. Those that already have their vehicle have to try to get the best deal they can base on this vehicle. Using quotes to achieve this is can provide excellent results.

There are so many insurance companies to choose from. They are not all the same when it comes to premiums. Although a lot of people assume that they are. They will all rely in general on the same data and metrics. However, they may create different levels of importance on these metrics. It is what can make the difference in the premium quotes.

Insurance discounts are something else that should be of interest. Many drivers assume the insurance companies will inform them about these. It may not be the case. Therefore it is important to ask about them.

Resources

https://www.moneysupermarket.com/car-insurance/articles/car-crash-by-colour/
http://www.ibc.ca/yt/auto/buying-auto-insurance/how-auto-insurance-premiums/clear

Related