If you’re in the process of buying a new vehicle, you might be looking for options that are affordable to insure. One of the things drivers often wonder about is whether the color of their next car will increase or decrease their monthly auto insurance payments. Read on to discover what color car is the most expensive to insure and what types of factors insurance companies consider when determining rates for customers.
Do Certain Colors of Cars Cost More To Insure?
You’ve probably heard the myth that red cars get pulled over more than other colored vehicles, but do certain colors of cars cost more to insure? While there are some studies that claim certain colors of vehicles are more likely to be in accidents than others, the color of your vehicle has little, if any, direct impact on your auto insurance policy.
However, there are some ways the color of your vehicle could indirectly affect your insurance rate. Whether you receive more speeding tickets, end up in more fender benders, or simply have a vehicle that’s more in demand because of its color, some experts believe there may be a loose correlation between your vehicle’s paint job and how much you end up paying.
What Color Car Is the Most Expensive To Insure?
One of the things auto insurance companies consider when developing quotes for customers is the overall value of their vehicle. Cars that are in high demand are worth more. While the link is indirect, this means popular car colors may cost more to insure than less desirable colors. A study performed by a coating company called Axalta in 2019 shows that the most popular vehicle colors in North America are:
- White: 29%
- Black: 19%
- Gray: 17%
- Silver: 11%
- Blue: 10%
- Red: 9%
- Brown and beige: 2%
- Yellow and gold: 1%
- Green: 1%
- Other: 1%
Based on this research, white and black vehicles may cost slightly more to insure because they’re in higher demand and therefore more valuable. Conversely, yellow, gold, and green-colored vehicles may be less expensive to insure due to lower demand. Another factor that may indirectly link car color to the price of your insurance is how likely your vehicle is to be stolen.
According to the existing research, brightly colored vehicles have a lower risk of theft because they’re easier to notice. This decreased risk may correlate with cheaper auto insurance. Additionally, brightly colored cars are typically harder to resell than popular color colors like white and black, which means a flashy red car may depreciate faster once you drive it off the dealership’s lot. This decrease in value may also translate into less expensive monthly insurance payments.
Do Custom Vehicle Paint Jobs Impact Car Insurance Rates?
While there may not be a significant, direct correlation between the paint color of a vehicle and its auto insurance policy, springing for a custom paint job may increase your monthly payments. That’s because a custom paint job is more expensive to repair if it’s chipped, scratched, or damaged. It’s important to note that other custom modifications may also increase your auto insurance payments. However, the only way to make sure these parts are fully covered under your policy is to alert your insurance provider of the updates you made to your vehicle.
What Other Factors Affect Car Insurance Rates?
If you’re shopping around for a new car or looking to switch to a different auto insurance provider, understanding how your monthly payments are calculated may help. Here are a few factors that have a more significant impact on what you pay than the color of your vehicle:
- Personal driver information, such as age and credit score.
- State of residence.
- Average cost of vehicle repairs or replacements after an accident.
- Average distance the driver travels each year.
- How often the specific car model has been in accidents, based on available research and statistics.
- How experienced the driver is, based on the number of years they’ve been licensed.
- How at risk the driver is, based on previous tickets and reported driving incidents.
The vehicle’s mileage, cost, and overall worth also influence how expensive your auto insurance policy is.
Tips for Getting a Cheaper Insurance Rate
The good news about auto insurance is that there are plenty of ways to lower your rate. Here are some tips to help you find affordable auto insurance and decrease your monthly payments:
- Focus on improving your credit score. Having a low credit score can increase how much you pay for auto insurance. Focus on improving your credit score by making other payments on time and minimizing your credit card debt.
- Practice safe driving habits. One of the main factors that influence auto insurance rates is your driving record. If you’ve been in an accident or received tickets in the past, consider taking a safe driving course to lower your insurance rate.
- Purchase a pre-owned vehicle. Since pre-owned vehicles are worth less than brand new vehicles, they typically cost less to insure. Look for used cars that are in good condition to save money.
- Compare quotes from different insurance companies. Shopping around for insurance can help you find the best rates available. Request quotes from several providers, each with a similar deductible and coverage level, to find the most affordable option for your vehicle.
- Join a family insurance policy. If you’re a younger driver or you have minimal experience behind the wheel, you may have to pay more out of pocket for your insurance. Consider joining a family policy instead of taking out your own to lower your insurance rates.
For even more tips on how to choose your car insurance, read our comprehensive guide online. You can also send us a message online or give us a call at 773-286-3500 to get a free quote from American Auto Insurance. With rates starting as low as $14 per month, we’re sure we can find the perfect coverage for your vehicle. Let our friendly team of insurance experts answer all of your questions and make sure you get a policy that works for you.
