You’ve heard it before, “red vehicles cost more to insure!” But is that true?
The truth is–is that red vehicles do not cost more to insure! Insurance companies do not care about the color of your vehicle nor will they raise the price of insurance due to the color of your vehicle.
What will raise your vehicle’s insurance rates can be:
- The year – some car insurance carriers offer a new vehicle discount
- The make
- The model
- Any vehicle safety features – such as airbags
- Car alarm – comprehensive coverage covers stolen vehicles & an alarm discount may be offered through this coverage
- Number of vehicles being insured
- Age – usually drivers under 25-years-old will have higher rates
- Driving record
- Number of drivers
- Credit score
- The city you live in
- Prior liability limits
Of course, all of the factors listed depend on each person individually and their situations.