Does Car Colour Affect Your Auto Insurance Rate?

If your vehicle is jet black, cherry red, or hot pink, will it impact how much you pay for car insurance?

How important to you is the colour of a new car or truck you’re buying? Is it better for your auto insurance premium if it’s a lighter shade versus a darker colour?

Since we’re on the topic, have you ever noticed how most vehicles are either white, black, grey or silver? Only one in four are red, blue, brown or green. Is it a coincidence? Or is it because Canadians tend not to be terribly adventurous when it comes to selecting a car’s colour?

Admittedly, we Canucks do tend to stick with what’s tried and true most times and we don’t like to make a fuss. That doesn’t make us dull, it makes us dependable, and there’s nothing boring about dependability. But one can’t help but wonder if it’s because we secretly enjoy making it difficult to find our cars quickly in a crowded parking lot.

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Choosing the Right Colour for Your Vehicle

The truth is it doesn't matter to an insurance company if your car is blue, red, green, silver, white or black. You know what "they" say about red cars costing more to insure? It’s a myth that never goes away.

While colour can be a powerful communication tool and it may even influence your mood, it will not influence your auto insurance premium.

What Factors Affect the Car Insurance Rate You Pay?

Insurance companies assess the risk you pose as a driver when determining your auto rate. Among the criteria they consider includes:

  • Where you live
  • Your age and gender
  • The type, but not colour, of the vehicle you drive
  • Your auto insurance history
  • Your driving record including any tickets or collisions
  • The optional coverages you choose to include in your policy
  • The deductible levels you select

What Is the Best Way to Get Cheap Car Insurance?

Shopping around to find the lowest car insurance rate like you would shop around for any new product can make a significant difference. After all, if you were looking to purchase a new smartphone, would you visit only one store and buy the first one you saw at any price without knowing what features it has or doesn’t have? Of course not. You’re a savvy consumer living in the digital age.

So, be as bold as you wish picking the colour you want your new wheels to be. It doesn’t matter if your vehicle is jet black, canary yellow, cherry red or hot pink. What does matter is how you drive. In other words, if you drive defensively you’re more likely to be seen as a good driver by insurance companies. That’s what will help you get the lowest auto premium you can.

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