Okay, this is a question I get frequently. Does it matter whether I choose the red Porsche over the black one?
The answer is a resounding “No!” Car color makes no difference in determining car insurance rates. It’s not a question we even ask our insureds. The car’s vehicle identification number reveals many things, but the vehicle’s color is not one of them.
A more important question would be “is the Porsche your first choice or are you also considering a Ford Taurus?” While color is not a factor in determining car insurance premiums, the vehicle type does play a role. I’ve bolded the generally cheaper characteristics below:
Sports car vs. Sedan
2 door vs. 4 door model
4, 6, or 8 cylinders
2 wheel drive vs. 4 wheel drive
Van vs. SUV
Domestic vs. Foreign
The biggest factor is probably the vehicle’s MSRP (Manufacturers Suggested Retail Price). An $8,000 model will always cost less to insure than a $40,000 one.
But, repair costs play a decided role as well. If it costs more to repair or maintain a vehicle, it makes sense that it will cost the insurance company more to “make you whole” should you have a claim. Lower repair costs = lower insurance premiums.
