It’s no secret that insurance companies use a variety of factors to determine rates. One of those factors is the color of your car. Studies have shown that certain colors are more likely to be involved in accidents and insurance companies take this into account when setting rates.
So does vehicle color affect insurance rates? The short answer is yes. The color of your car can impact your insurance rates in a number of ways.
Vehicle color and safety
One of the most important factors that insurance companies consider when setting rates is safety. Obviously the safer your car is the lower your rates will be. And studies have shown that certain vehicle colors are more visible to other drivers and therefore less likely to be involved in accidents.
For example a study by Monash University in Australia found that white cars are 12% less likely to be involved in daytime accidents than black cars. And another study by the Highway Loss Data Institute found that white cars are 19% less likely to be involved in night-time accidents than black cars.
So if you’re looking for the safest color for your car white is probably your best option. But that doesn’t mean that other colors are automatically more dangerous. The same Monash University study found that blue red and silver cars are also less likely to be involved in daytime accidents than black cars.
Vehicle color and theft
Another factor that insurance companies consider when setting rates is the likelihood of your car being stolen. And unfortunately certain colors of cars are more likely to be stolen than others.
For example a study by the National Insurance Crime Bureau found that black and gray cars are the most likely to be stolen while white and gold cars are the least likely to be stolen.
Of course this doesn’t mean that you should avoid black and gray cars altogether. There are a number of other factors that affect the likelihood of your car being stolen including the make and model of your car and where you live. But if you’re concerned about theft it’s something to keep in mind when choosing a color for your car.
Vehicle color and resale value
Another factor that can impact your insurance rates is the resale value of your car. And unfortunately certain colors of cars tend to have lower resale values than others.
For example a study by Kelley Blue Book found that white and black cars retain the highest resale values while yellow and orange cars have the lowest resale values.
Of course this isn’t necessarily a bad thing. If you’re not planning on selling your car anytime soon then the resale value shouldn’t be a major concern. But if you are planning on selling your car in the near future it’s something to keep in mind when choosing a color.
The bottom line
The bottom line is that the color of your car can impact your insurance rates in a number of ways. If you’re looking for the safest color for your car white is probably your best bet. But if you’re more concerned about theft black and gray cars are more likely to be stolen than white and gold cars. And if you’re planning on selling your car in the near future white and black cars tend to have higher resale values than yellow and orange cars.
Does the color of your vehicle affect insurance rates?
No the color of your vehicle does not affect insurance rates.
Is there a difference in insurance rates for vehicles that are different colors?
No there is no difference in insurance rates for vehicles that are different colors.
Will the color of my car affect my insurance rates?
No the color of your car will not affect your insurance rates.
I want to get a new car does the color affect insurance rates?
No the color does not affect insurance rates.
I want to paint my car will that change my insurance rates?
No painting your car will not change your insurance rates.
If I change the color of my car will it affect my insurance rates?
No changing the color of your car will not affect your insurance rates.
Will insurance rates be different for a white car vs.
a black car?
No insurance rates will not be different for a white car vs.
a black car.
Is there a correlation between car color and insurance rates?
No there is no correlation between car color and insurance rates.
If I have a white car will my insurance rates be higher?
No the color of your car does not affect insurance rates.
Do insurance companies consider the color of a car when determining rates?
No insurance companies do not consider the color of a car when determining rates.
I want to buy a red car will that increase my insurance rates?
No the color of your car does not affect insurance rates.
My car is currently blue will changing it to green affect my insurance rates?
No the color of your car does not affect insurance rates.
I want to buy a new car and I was wondering if the color makes a difference in insurance rates?
No the color of your car does not affect insurance rates.
I heard that yellow cars have higher insurance rates is this true?
No the color of your car does not affect insurance rates.
Does the color of a car affect the insurance rates at all?
No the color of your car does not affect insurance rates.
