Little Red Corvette?

Urban Legend or Fact?  A red car will result in higher car insurance rates because red car drivers are faster and get  into more accidents.  According to Ken Kitzmiller, VP of Underwriting at Mercury Insurance, “The idea that certain colors of cars are more expensive to insure is nothing more than urban legend.”

So what are the important factors to consider to get great and affordable car insurance rates?  Mercury provides a comprehensive list of the factors impacting car insurance premiums:

  • Driving record. (Your previous accidents and tickets, so drive safely and follow the road rules to keep your record clean).
  • Driving experience.  A young driver (someone lacking 8 plus years of driving experience) will generally pay higher insurance rates.  However, a young driver can counter this with study habits as a good student discount applies with GPAs of 3.0 and higher.
  • Vehicle Price. So that little red corvette won’t cost you more to insure because its red.  However, expensive vehicles will generally cost more to insure.
  • Annual mileage.  Long commutes and lots of driving will cost you more as generally, the more you drive, the higher your rates will be. And if those are miles logged for business or on a daily long commute, that could also increase your car insurance rates.
  • Marital status. Based on statistics, married drivers are generally safer drivers than single drivers.  So married drivers have lower rates typically.  Additionally, married couples usually get to take advantage of multi-car discounts purchased on the same policy.

So the car color choice is yours, but remember to contact us at Sean Paul Insurance to provide you with a auto insurance quote next time you go to buy a new vehicle.

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