Finance

How important is the color of a car?

by Fleming. Team

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.

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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:

  • 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 %

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...

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