Is Insurance Higher for Red Cars
Introduction
According to a study by Forbes, the average car insurance rates are higher for drivers of red cars. This may come as no surprise to those of you who know that the color red is associated with danger and emergency. Why is this? It’s likely due to the fact that red cars are statistically more likely to be involved in accidents. In fact, Forbes found that the rate of accidents involving red cars is almost twice as high as the rate for cars of any other color. If you’re in the market for car insurance, it’s worth researching your rates specifically for red cars. By doing so, you can avoid paying unnecessarily high premiums.
The Data
In a study published in the journal Social Science and Medicine, researchers analyzed insurance claims data to determine whether the color of a car affected rates. The study found that those drivers who drove red cars were charged more for automobile insurance than those who drove other colors. The study’s authors suggest that this may be because red is associated with danger.
Conclusion
There’s no disputing that red cars are often considered more prestigious and expensive than their blue and green counterparts. But is this unfair treatment actually costing us? According to one study, car insurance rates for drivers in red cars are almost double the rates of drivers in other colors. While it may be tempting to blame our misfortune on our unlucky color, the real cause may be something much simpler: traffic offenses. Red cars are disproportionately pulled over, so they’re also more likely to have accidents. Combined with high premiums, this could be reason enough for drivers who happen to drive a red car to shop around for car insurance quotes.
