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Do Red Cars Really Cost More to Insure? Busting Car Insurance Myths

Published on November 25th, 2020

Are you looking to get the lowest rates possible on your Illinois vehicle auto insurance? There’s a lot of good (and bad) information out there regarding how auto insurance works—for the average person, it might be difficult to know who is presenting the most accurate information. At Accurate Auto Insurance, we strive to be a partner to our customers and look out for their best interests by getting them the lowest rates possible.

One of the best ways to ensure a great rate is to stay keen to myths and misconceptions surrounding car insurance while you’re shopping around. Today, we’ll be examining some of the common fallacies that you may have heard—and believed!

Myth 1: Premiums Will Always Rise After an Accident

Many insured drivers feel wary about filing a claim to their insurer, thinking that it will automatically result in higher monthly premiums. While this isn’t the full story, there is some truth to this myth. There are many factors taken into account by insurance companies after an accident:

  • Who was at fault
  • The size of the claim
  • What injuries occurred during the accident (if any)
  • Does the driver’s record show a pattern of unsafe driving

After weighing these details about your claim, your insurance company will decide whether or not your premiums will need to be raised. Accidents that involve no other drivers (such as backing up into a pole) may result in no increase to your insurance at all. It’s important to report all accidents involving another driver to your insurance company. Failing to notify the police and your insurer could leave you open to a lawsuit down the line.

Myth 2: If Someone Borrows My Car, Their Insurance Will Cover Accidents

It’s important to examine this commonly held belief carefully before lending your car to a friend or relative. The details of your policy, the other person’s policy, where you live, and who is at fault in the accident can affect the outcome. Before allowing someone to borrow your car, make sure that you understand the details of your own policy and inquire about theirs as well.

In cases where the accident is determined to be the other driver’s fault, their insurance will likely be on the hook to cover any damages. If the person who was driving your car was found to be at fault, their insurance will likely step in. However, if the driver of your car is not insured or underinsured, your own car insurance may need to account for some of the damage. If the damage is very significant in this case, you may even experience a hike to your monthly premiums.

Myth 3: High-Tech Safety Features Always Lower Rates

The impact that safety features will have on your insurance premiums relies on the details of your individual plan. In fact, many cutting edge safety features are known to be so complex and expensive to replace, that some insurance companies will quote a higher rate. However, certain features, such as Electronic Stability Control, are considered to be so highly effective at preventing accidents that you may see a lower rate on your car insurance.

Making an inquiry directly to your insurance company can help you determine what different features will impact your rate. When it comes to your personal safety, paying extra for these features could end up saving you a lot more than money.

Myth 4: Red Cars Cost More to Insure

At Accurate Auto Insurance, we’ve often had callers ask whether or not the color of their car will affect their insurance rates. The answer is: NO! When requesting a quote or receiving your policy, the Illinois vehicle auto insurance company will likely ask for your car’s make, model, year, and vehicle identification number (VIN). The color of your car holds no bearing on your insurance premiums.

Other Costs Associated With Paint Color

While it’s unlikely that the color of your car will affect your car insurance quote, there may be other ways that a car painted red or another flashy color could cost you. For example, if you do experience a crash and need to hire a professional to touch up or repaint your car, the cost could be higher for a vehicle with a special paint job. The more common a color is, the more readily available and inexpensive the paint tends to be.

Some people believe that red cars are more visible on the road, and because they stand out it may increase the driver’s risk of being ticketed. No matter what car you’re driving—it’s important to follow the rules of the road carefully along with parking regulations.

Contact Us for Illinois Vehicle Auto Insurance

We hope that you’ve found these tips informative and useful. As always, Accurate Auto Insurance is committed to helping you drive safely, with the best insurance rate around! If you’re looking to find a new policy, please apply on our website or reach out today with your questions.

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