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Debunking common insurance myths: Does it costs more to insure a red car?

Published on Aug 15, 2014 | Last updated Mar 25, 2020 1 minute read

True or False: It costs more to insure a red car.

ANSWER: FALSE

The colour of a vehicle is not a factor in determining an insurance premium.

Premiums are based upon a driver’s particulars and how the car is being used: driving record, experience and commute distance.  Model, make, age, body type, and the car’s engine size are factors in determining premiums for collision and comprehensive coverage.

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