The myth is just that: a myth. Red cars cost no more to insure than cars with other colors. Insurers have no infrastructure to rate cars based on their color, but they do for many other factors.
Is insurance actually higher for red cars?
You may have heard red cars are more expensive to insure. But, according to the Insurance Information Institute (III), the color of the car you drive does not affect the price of auto insurance. Here are some of the factors that help determine your auto premium and what to look for when shopping for car insurance.
What color cars are more expensive?
Red is the most expensive colour, worth an extra $338; grey is the cheapest, worth $389 less than the convertible average. For trucks, black is the most valuable colour, worth an extra $221; blue is the cheapest, averaging $237 less than a typical pickup.
Are red cars harder to sell?
“Rarity alone does not equal value. If a color doesn't resonate with enough used car shoppers it will hurt resale value, even if it's uncommon,” said Brauer. The most common car colors–black, white, silver, gray, red, and blue–are all close to average in terms of depreciation.
Do red cars get into more accidents?
While red does tend to be associated with less of a risk of accidents than black, grey, and silver cars, red cars have more accidents than many other colors. When compared with the safest color on the road, red cars have a 7 percent higher risk of an accident.
Why do red cars get in more accidents?
Red cars have an increased risk of getting into an accident because they blend in with many traffic elements, including brake lights, road signs, traffic lights, sirens, and many more.
Are red cars more prone to accident?
While red does tend to be associated with less of a risk of accidents than black, grey, and silver cars, red cars have more accidents than many other colors. When compared with the safest color on the road, red cars have a 7 percent higher risk of an accident. Red is such a bold, vibrant color.