car insurance quotes Texas: Does the color of your car impact your rates?
We have all heard this myth before and often in a positive and a negative way. Some people say that a red car is more expensive to insure and other say that because it’s such a bright color you’ll see from miles away it’s cheaper because people will see you better. But who is right and who is wrong and does the color, any color, really have an effect on your insurance rates? This article shows it’s own take on this myth and maybe it will give you some tips before you choose your next car!
DOES THE COLOR OF YOUR CAR AFFECT THE PRICE OF YOUR POLICY?
Although no one’s keeping official statistics, some anecdotes and tales help to reinforce the old urban legend about red cars getting more tickets (thus being more expensive to insure). There is no evidence, though, to support that idea. The lack of statistics renders it impossible to say which cars of which colors get more tickets, and both the police and the insurance companies deny any link between red cars and an increase in the amount of accidents and tickets.
In general, respecting the speed limit is always a good idea, no matter the color of the car you drive. If you keep your red car inside those limits, your chances of getting a speeding ticket will be much smaller. In fact, they will probably be the same as those of the guy next to you driving his purple car, if he also respects the laws of traffic.
Though the color of your car may not affect the number of tickets you receive, it certainly says something about your personality. The Canadian Automobile Association looked at the psychology behind the process of choosing the color of a car and, according to their analysis, the red color supposedly signifies you have an enormous “need for speed”.
But does that affect car insurance rates? Does your insurance company take the color of your car in consideration when determining the premium? The answer is definitely no. Some people have suggested that insurance companies do it, but unless your car insurance company asks you, they really have no idea what color your car is. So it really has no effect on your rate.
If the color of the car doesn’t matter, what are the things insurance companies look at when evaluating your car? Factors like model, year, car body type, make, and engine size are taken into consideration. The Highway Loss Data Institute maintains reports on insurance losses for different models of cars. Some insurance companies may use this information to adjust their rates, when they quote your policy. However, things such as your ZIP code and your driving record are a lot more important to your rate than the model of car you are driving. Of course, your rate quote may be higher if you have an expensive car, or lower if it has important safety features, like airbags.
If you keep your red car under the speed limit, stop at red lights, and wait till you have stopped to make your cell phone calls, you will probably keep your rates low, independently of the color of your car. Insurance companies smoothens their agreement, by limiting their rates for the color of your car, and clients feels pretty good with these kind of policies of insurance companies. The agreement of a party with insurance company clearly differentiates the pricing rates for each color of your car. If you want o check for cheap rates, then you must get the color resuming low interest rates, and thus it saves you money. So color is a key factor in getting insurance for your car. Most of clients feels uncomfortable with these kind of policies but in my opinion, its pretty good and helpful for those to chose a different color for their favorite cars. There are certain companies who consider color as significant as your car, but in Europe there are a lot of companies who can give you insurance at same rates, so it’s not actually targeted to all, but the policy varies accordingly with the insurance companies.
Certain factors involved in insuring a car, keeps it a bit difficult for clients to chose, but the narrow way to go through is to read, understand and then sign the agreement.
So, if you want that red car, just go get it, old boy!
Article courtesy of YourOnlineAutoInsuranceQuote.com
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