After watching an hour of television, I am fairly certain that there are just as many auto insurance companies out there as there are colors. Geico, Nationwide, Progressive…and the list goes on. They all want to save you money.

But, is the color of your car related to your insurance? This led me to remember a statement I have heard for years about Color and Insurance :

Do Red Cars Cost You More in Insurance?

This statement has come up in conversation more than once. Someone says it. They usually heard it from a friend. You don’t question it and you move on with your day. Today, I figured I would find out the real answer.

What are Most Popular Colors of Cars?Line of different colored cars on sidewalk

White, Black, Grey, and Silver amount to over 70% of the world car production according to PPG Industries.

Red tends to be a little higher in North America accounting for 10%, but is still a long way from being the most popular choice.

A 2013 Forbes poll discovered that more men than women preferred red cars, and historically women pay less for car insurance. (Esurance explains Why Women Pay Less.)

Maybe this is where the statement comes from.

Why do you choose a color?

Insurance.com surveyed 1,000 men and women to find out why they chose the color car they currently own.

  • It was pretty (31.5%)
  • No other choice (25%)
  • Wouldn’t show dirt (10.2%)
  • I look good in it (9.7%)
  • It blends in (7.6%)
  • It stands out (6%)
  • Safety (5.8%)
  • Resale (4.2%)

I guess no one said because of Insurance rates. You would think that out of one thousand, one person might state this as a reason. Maybe they debunked the myth.

Does Color Matter?

The truth is that most insurance companies don’t even track the color of your vehicle, let alone charge you more because of it. They track your vehicle identification number (VIN) and nowhere does it indicate the color of the vehicle.

The insurance company might know that you have a Ford Mustang, but they don’t care if it’s a Black Ford Mustang or a Red Ford Mustang. They only care that it’s a Mustang.