Your love for all things red, including your car, could be why your motor insurance premiums are higher than your friend’s who happens to drive a sky blue sedan. The amount you pay for your car insurance could be influenced by something as simple as the color of the vehicle you choose to drive.

Many people believe that their car insurance premiums are only determined by the value of the vehicles they are insuring. Some really ignorant people believe that their insurance premiums are based on how much money they make and what they can afford to pay for insurance.

In reality our vehicle insurance premiums are determined by a number of factors that are in our control and a number which are not. Those that we can do nothing about include things like the crime rate in our particular country, city, suburb or even street. The condition of the roads in the area we predominantly drive in are another factor as well as something so completely out of our control as the number of uninsured cars driving around with us.

Then there are factors that influence our premiums that we can do something about. These include things like the security devices fitted in the vehicle which reduce the chances of having the vehicle stolen. The value of extras fitted during and after manufacture can also push up premiums. For example, a car with an expensive sound system will cost a lot more to insure than one with a simple inexpensive radio. These factors tend to make sense, but what most people find unbelievable is that the color of the vehicle is also one of these factors!

When you buy a car, your choice of color could reduce your insurance premiums. Choosing a red, black or white car could mean that you will pay more for your motor insurance, while selecting a car that is painted green or blue could reduce your premiums. The color of a vehicle has an impact on its collision and theft risk thus making it more expensive to insure. How vehicle colors affect premiums can be broken down into three variables:

Personality

People who drive red or black cars tend have more aggressive personalities. This aggression affects their driving style making them more likely to have accidents. Sport cars also tend to be predominantly red or black which reinforces this theory. People who choose to drive blue or green cars are more likely to have a relaxed, less aggressive driving style, making them less of an accident risk.

Visibility

Metallic colours like silver and grey are not a good option for those wanting to keep their premiums down. These colours make vehicles less visible at dawn and dusk which increases the likelihood of an accident.

Theft

Although white vehicles indicate a more passive personality and are easier to see in the mornings and evenings, they are also a higher risk due to the fact that they can be repainted easily. Car thieves tend to favour white cars and this pushes up insurance premiums.

These color-based factors have been identified by insurance companies based on statistics and trends rather than scientific research. So if you drive a red car do not worry, this does not necessarily mean that you are an aggressive person. However it still leaves you in a higher risk category in the eyes of your insurer.