Are you looking at purchasing a new vehicle? Is it black, white, red, silver or blue? Have you heard the rumour that the colour of your car has an affect on the cost of your car insurance?
Some people believe that certain colour cars are at a greater risk of being involved in an accident. However, Canadian auto industry experts say that there is no data to support the belief that vehicle colour has an impact on the number of accidents.
Red Cars Are More Expensive to Insure: Fact or Fiction?
The colour of your vehicle is not a consideration when determining your auto insurance rate. Insurance companies and their actuaries do not have built-in rates for different coloured cars. So, the idea that people driving red cars pay higher rates to insure their vehicles is a myth. There is no data to support the idea that divers of red cars drive more aggressively or carelessly.
Is the colour of the vehicle regulated?
The auto industry regulates several components of auto manufacturing to ensure passenger safety, including headrests, seat belts, and the knobs along dashboards. According to Transport Canada and the U.S. National Highway Traffic Safety Administration, there are no rules regarding the colours auto manufacturers can use for vehicle body paint.
Considerations about your vehicle that may affect your insurance rates:
Instead of the colour of your car, there are other considerations about your vehicle that your insurance company will want to know, such as:
Having a red vehicle does not have an impact on your auto insurance!
If you’re looking at a new (or gently used) vehicle or even just thinking of doing so, please give Absolute Insurance Brokers a call at 1-877-941-2266 and we would be more than happy to give you a quote for your new wheels!
