This event brings together distinguished personnel from banks, government bodies and technology companies to discuss and address crucial issues on how to seize new opportunities in retail banking and wealth management while making it beneficial for all stakeholders.
How important is the color of a car?
Have you ever thought about how important the color of a car is for insurers and insurants?
Have you ever thought about how important the color of a car is for insurers and insurants?I'm sure you've heard about the common myth saying that the colour of the car influences the insurance cost. Did you know that this has origins in real scientific research conducted in 2007 by an Australian university? The aim of the study was to investigate the relationship between car color and crash risk. It was found out that white cars had the lowest crash risk whereas cars with low visibility index colors tended to be involved in more severe accidents.
However, it is mostly the insurants themselves who care about the color. Insurance.com surveyed 1,000 men and women – all married, licensed drivers over the age of 25 – asking them what color their car was, and why they chose that color*. Have a look at the results:
The top colors were:
- Black: 19.5 %
- Silver: 18.5 %
- White: 16.2 %
- Blue: 12.5 %
- Red: 8.5 %
The reasons drivers chose their particular color:
The following is an interesting infographic about the US market regarding the automobile insurance facts:
Reference:1. Vallet, M. (2015). Do red cars cost more to insure? Retrieved from http://www.insurance.com/auto-insurance/vehicle-sh...2. Automobile Insurance Facts. (2013). Retrieved from http://visual.ly/auto-insurance-facts-and-interest...
Interested in this topic?
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