Red Car Insurance Cost: Myth Busted
Most everyone has heard the myth about red cars being more costly to insure. According to a study by insurancequotes.com, 44 % of Americans believe this, and 53% of millennials believe this, to be specific. So, are that many Americans misinformed? Well the answer is…
Red cars are not more expensive to insure. And color is not a factor considered by insurance companies when insuring cars. Factors used to determine insurance prices include car year, make, model, body style, driving record, how often you drive and how many drivers are on your policy.
So why does such a large portion of Americans still believe in this myth? Well many argue that red cars are seen by officers more often because of their bright color. Also, red cars are known to be associated with “sports cars” and more accidents.
The Red Effect
Many psychologists have argued that color does affect mood and behavior. However, there are not many studies that correlate car color to crash risk, and no studies in the US have conclusively proven or disproven this idea. One study in 2007 in Australia concluded that cars with low-visibility colors had higher accident risks. So for example black, gray, red and green cars are harder to see at night in darker conditions compared to a white car.
If you want a new car and are set on the color red, than you really have nothing to worry about. Your car insurance rate will not be affected by color. As long as you are a safe driver, and the car is reliable and safe, you should get the best rates possible.
Have any more car myths you want debunked? Let us know!