Is it true that a red vehicle costs more to insure?

The colour of your car does not affect your insurance premium. However, the vehicle model, your driving experience, where you live, what you use your car for, and what coverage and deductible you choose do influence what it'll cost you to insure your car.

These criteria are used to establish the risk of having an accident or being the victim of theft. The higher the coverage, the higher the premium. The higher the deductible – the amount you pay if you file a claim – the lower the premium. Factors such as age, gender and marital status of the vehicle drivers also affect the premium.