Are Insurance Premiums Higher For Red Cars
Agent in Springfield Missouri explains what matters about your vehicle and what doesnt. But according to the Insurance Information Institute III the color of the car you drive does not affect the price of auto insurance.
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In addition it is a fact that on average drivers of red cars pay higher car insurance rates - but does that mean that all yellow and red car owners pay higher insurance rates.
Are insurance premiums higher for red cars. Youre covered the same way as if you were driving your regular ride. Insurers are interested in the year make model body type engine size and age of your vehicle. Or maybe its because young men tend to favor red cars and young men also pay a higher insurance premium on average partly because of their statistical propensity toward lead feet.
Insurance premiums can vary by thousands of dollars depending on something as simple as the colour of the car you drive. Car makes that are frequently stolen cost more for comprehensive coverage. 382011 They say that red cars are the most likely to be involved in accidents or get speeding tickets and that insurance companies automatically increase the premiums for those cars.
Cars with high theft rates will also command higher premiums for comprehensive coverage. However the association between color and high insurance rates is. Its true that some vehicles are more expensive to insure than others but any difference is based on hard data.
However the argument has already justified these premiums in a different way by stating that the red color of the car causes accidents. This myth perhaps emerged due to the popularity of sports cars in the color red since auto insurance companies do tend to raise premiums for the speed capacity of the vehicle. Providers look at the make model year and safety features of a vehicle to determine car insurance rates rather than color.
This answer choice is incorrect because it also deals with the higher premiums. 5302012 So the fact that there are more red sports cars out there along with the tendency for sports cars to get higher insurance rates leads people to believe that its the color rather than the car thats jacking up their rate source. However rates are often higher for sports cars of any color as they are more expensive to buy and repair and are stolen.
If this fact were true then it may justify the higher premiums for red cars. Not only does color have nothing to do with car insurance rates a particular models risk isnt determined by the number of tickets its owners receive. There has been an error loading your listings.
Your everyday insurance covers rental cars. Now you can drive that candy apple red convertible with an easy mind. June 2020 You may have heard red cars are more expensive to insure.
11122010 This misperception might be credited to the fact that lots of sports cars are red and sports cars typically command a higher insurance premium. So before you head down to the dealership do some research to keep your insurance rates low. 892019 Answer Choice B.
1272021 Insurance is not higher on red cars. Contrary to popular belief red cars are no more expensive to insure than cars of any other color. 1102017 The paint that affects your insurance rates is a custom paint job but even that shouldnt add too much to your premium and should only include a nominal fee.
Here are some of the factors that help determine your auto premium and what to look for when shopping for car insurance. 9212015 A red car wont cost you more than a green yellow black or blue car. Though this is a widespread belief it.
6122014 Shes never heard of any insurance company charging more for red cars. Car insurance companies do not take a cars paint color into account when determining premiums. Insurance companies consider many things when calculating your rate.
Marcus Troup a Farmers Insurance. Having a red car will not have any effect on any part of your insurance. Im covered if Im driving a rental car.
Yet theyre doubly mistaken. Factors that determine your premium include year make model body style and the age of your vehicle. 4182017 Conversely drivers of black or red cars were charged more for their premiums as behavioural studies suggest that they are a greater risk.
This kind of risk means a higher rate. The color of your car might even make it less likely to be stolen - in which case a red car might even help you. Simply put insurance companies do not consider vehicle color as a rating factor.
That is an auto insurance myth. Answer The notion that your cars color affects your rates is a myth. Insurance companies have compiled data showing that some drivers have a propensity for accidents that arent their fault.
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