How Much Does Auto Insurance Really Cost ?

Reader’s Question:

I am shopping for a used car in Tulsa Oklahoma, and have learned from a co-worker that it is more costly to insure a red car than other colors, is this correct?

Melanie

Tulsa, OK

No Melanie, the color of the car is not generally one of the factors that are being considered by a car insurance company in Tulsa, OK to use as a rating factor. The type of car, such as sports, sedan, minivan, etc is taken into account though and can influence or affect your insurance rates. It is a common misconception that certain colored vehicles, such as red and silver, costs more to insure but that is not so.

The myth is out there that a silver or red car costs more to insure but in all actuality car insurance companies do not consider the color, but they do look at the type of car. If it is a red sports vehicle it will likely cost more than a green family vehicle to insure but because of the powerful engine and accidents statistics relating to sports cars compare to a 4-door family sedan, and not the color.

Some other factors that insurers consider includes your age, the kind of vehicle you drive, your claims history, in some states your credit history and your driving record.