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Do red cars have the most expensive insurance premiums? How does car colour affect insurance rates?

Many Americans believe that the colour of your car can affect how much you pay in insurance premiums, but is this really the case and which colours are most expensive?

Update:
Many Americans believe that the colour of your car can affect how much you pay in insurance premiums, but is this really the case and which colours are most expensive?
PIUS UTOMI EKPEIAFP

In a study carried out by InsuranceQuotes.com 44% of those asked thought that red cars have the most expensive insurance premiums. Some believe that the more noticeable colour attracts thieves, or that red cars are more likely to be pulled over.

However while this is a widely-held belief it is not true and insurance companies do not charge higher premiums for red cars.

When looking for car insurance most providers will ask for the vehicle's year, make, model and vehicle identification number (VIN), but the vast majority do not ask the colour according to Wester National Insurance.

Kristofer Kirchen, president of Advanced Insurance Managers, confirmed: “The colour of your vehicle is not even a question on the insurance application, and it is a non-factor.”

When colour can make a difference

There is no evidence to suggest that red cars require more expensive car insurance than similar cars in a different hue, but colour can play a role in some regards.

Insurance premiums relate the value of the item that they are insuring and cars in certain colours can sometimes be more covetable and so worth slightly more. However this increase is normally very small and it is unlikely that it would be reflected in the premium.

Likewise a custom paint job that makes the car particularly valuable or flashy may bring about a higher insurance cost. According to insurance advice site Cover some companies view it as a custom part or equipment which would be covered by the policy if anything were to damage it. But once again any increase would be fairly modest and unlikely to make a major difference to your total premium.

If you are unfortunate enough to suffer a car theft you may find that your insurance premiums increase considerably in future, particularly if you live in an area where vehicle crime is on the rise. With this in mind you may want to choose a colour that is less likely to be stolen, in which case red would be a good selection.

A 2012 study from CCC Information Service found that red cars are actually one of the least likely to be stolen, precisely because they are more noticeable. Reinforcing that notion is the fact that silver is the most commonly stolen car colour. So if you want the best chance of keeping your insurance premiums low in the future, red cars may be the way to go. 

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