Many factors determine how much you’ll pay for auto insurance. But will buying a red automobile leave you seeing red when you get your insurance bill?
What Factors Do Insurers Consider?
There’s not much research to support the theory about red cars hiking owners’ insurance premiums or causing them to get pulled over more by law enforcement, and what we did find suggests it’s not necessarily true. Insurance companies apply a lot of factors to determine your auto insurance rate, but your car’s color isn’t one of the considerations. The most common rating factors include:
Your age and gender: Statistically, male drivers have the most traffic accidents. Similarly, certain age groups file more insurance claims than others. To mitigate their risk, insurance providers use such statistical trends when determining premiums, although seven states do ban the use of gender when pricing auto insurance: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, and Pennsylvania. If you list several members of your household as drivers, their ages and genders can also impact your rate. Your driving record: When you buy an auto insurance policy, the carrier will want to know about the last three to five years of your driving history. Drivers who have traffic violations such as at-fault accidents or speeding tickets often pay higher premiums because providers consider them to be high risk. Your credit history: Most insurance companies use your credit rating as a factor in setting car insurance rates. California, Hawaii, and Massachusetts are the only states that don’t allow insurers to apply credit-based auto insurance ratings. Your claims history: Auto insurance can save the day when you need it, but if you file too many claims, you’ll likely pay a higher premium. Your location and where you park: Typically, auto owners in urban areas pay more for car insurance than those in rural communities, due to higher rates of accidents, car theft, and vandalism. Those who park their automobiles in secure garages often pay less than people who rely on street parking. Type of vehicle you own: The make, model, and model year of your car can affect your insurance rate because certain types of vehicles need more repairs, cost more to repair, or are popular with car thieves. How much you drive: The higher your annual mileage, the more you can expect to pay for car insurance. Your coverages and deductibles: Auto owners who only carry state-mandated car insurance coverages usually pay less than those who buy full coverage policies, and choosing higher deductibles can reduce your rate. But keep in mind that selecting a high deductible means you’ll have to pay more out of pocket when filing a claim.
How Often Do Insurers Check Your Driving Record?
Getting a speeding ticket or other type of traffic violation can lead to a higher auto insurance premium, but not necessarily immediately. Carriers usually only check your driving record when you get an insurance quote, apply for a policy, renew a policy, add a driver to your policy, or change your coverage. Typically, state agencies issue driving records that span the last three years. When they request a report, insurance companies look for issues such as collisions, traffic violations, traffic-related convictions, and failure to appear in court.
Are Red Cars Ticketed More Often?
A widely circulated and cited study published by CJ Pony Parts, an auto parts and accessories retailer, surveyed nearly 1,000 speeding violations, issued in two countries, at four intersections. The study found that the most ticketed color of automobiles included:
White: 19%Red: 16%Gray: 10%Silver: 5%
But you shouldn’t take such studies very seriously. In 2016, Fort Worth’s Star-Telegram carried out a similar study that reviewed speeding violations issued by Texas troopers. The newspaper’s research found that black cars were pulled over most often, along with white, gray, and silver automobiles, with red vehicles coming in fifth. These claims can vary widely by location. The common belief that red cars cost more to insure is a myth. In fact, insurance companies don’t consider your vehicle’s color when setting your rate, and many don’t ask for that type of information.
Which Cars Are Ticketed Most?
More accurate studies assess the rate at which certain makes and models of automobiles get traffic tickets. A 2020 Insurify nationwide study found the following percentage of these models had received speeding tickets:
Subaru WRX: 20.49%Volkswagen GTI: 17.38%Subaru Impreza: 15.9%Infiniti G37: 15.61%Dodge Dart: 15.45%Hyundai Veloster: 15.43%Dodge Challenger: 15.09%Dodge RAM 2500: 14.79%Dodge Charger: 14.71%Nissan 350Z: 14.65%
The Insurify study based its findings on a 10.54% national average for all makes and models of vehicles issued speeding tickets.
How To Keep Premiums Low If You Have a Red Car
So if you drive a red set of wheels, it might be wise to take extra precautions to avoid speeding, improper passing, or trying to blast through a yellow light. And if you drive one of the most-ticketed vehicles disclosed in the Insurify study, be even more prudent about following the rules of the road. Regardless of the color of your automobile, there are steps you can take to get the best car insurance rate.
If you’re shopping for a new vehicle, request insurance quotes for the make and model you want before buying it. Shop for an automobile with safety and security features such as airbags, anti-lock brakes, and anti-theft systems. These features can reduce your risk of serious injury and reduce your car’s risk of being stolen. Lower risk can lead to a lower insurance premium or attractive policy discounts. Auto insurance companies offer a wide variety of discounts. Young drivers can often get a discount for making good grades, and more mature drivers can reduce their insurance rates by taking defensive driving courses. Many insurers also offer significant discounts to customers who bundle their auto and home insurance policies. Consider raising your deductible. While raising your deductible will mean you’ll have to pay more out of pocket if you file a claim, lowering your rate can help you keep more of your money over time. If you’re unhappy with your current coverage or insurance rate, shop around for a new provider. Always request quotes from several insurers before buying a policy. Compare the costs of standard coverages, as well as available discounts and optional coverages.
