Of all the issues that affect your insurance rates,–driving history, where you live, type of car you drive–it may seem like your insurance company will use any method they can to determine the rate of your policy. Because of this, there is a common misconception that even the color of your car affects your insurance rate. While this may seem sound, the color of your car doesn’t affect your insurance rate. However, knowing the factors that your carrier does use to calculate your rate can make a huge difference in how much you pay for your policy.
Maison Law Offers Free Consultations to California Car Accident Victims
At Maison Law, our team of experienced California car accident lawyers is well aware of the different factors that go into calculating your insurance rate. Through our years of experience serving California car accident victims, we have seen firsthand the tactics and methods insurance companies use to not only determine your insurance rates but try to devalue any claim you have you’ve been in an accident.
Don’t let an insurance company give you less than you deserve. Contact us today for a free consultation.
How Does My Car Impact My Insurance Rate?
There are a number of different factors that your car insurance carrier uses to calculate your policy rate. They seemingly take everything into account: your driving history, make and model of your car, type of vehicle, location, and even things not related to driving like your credit score.
With all of these factors, it may seem like even the color of your vehicle is factored into your policy rates. You often hear that red cars, for example, cost more to insure. This is flatly untrue. While your car insurance carrier factors in most details about your car when calculating your rate, the color of your car isn’t one of these factors.
That said, your carrier knows what kind of car you drive because you have to provide them with the vehicle identification number (VIN). From there, they use the following information about your car to calculate your rate:
- Make
- Model
- Year
- Body type
- Engine size
- Your credit score
- Sticker price
- Average repair costs
- Overall safety record
- Risk of being stolen
- Your deductible amounts
While the color of your car doesn’t directly impact your car insurance rates, that doesn’t mean that your insurer won’t factor in the color of your car under special conditions. For example, if you buy a car that is a specific color and is in low supply, it could increase the cost of the vehicle. This, in turn, will mean a higher insurance premium for coverage.
Which Vehicles Are More Expensive to Insure?
So, the color of your car doesn’t outright affect your insurance rate. But what about the type of car you drive? Obviously, certain vehicles are made differently than others. This leads to a number of different variables depending on the type of vehicle you choose to drive. For example, an SUV offers more protection in the event of an accident than a sports car, but driving a sedan with more safety features may have more of an impact on your insurance rate.
While not including the color of your vehicle, here are some vehicles that typically cost more to insure:
- Sports cars – Sports cars are usually designed with one thing in mind: speed. These cars–Corvettes, Ferraris, and Lamborghinis–are made for a certain type of driver and are priced accordingly. Not only are these vehicles extremely expensive, but they are also built to operate at much higher speeds and not in everyday driving conditions. As such, they carry a higher risk of accidents and are therefore more expensive to insure.
- Luxury cars – Luxury cars with high-end safety and performance features, as well as lavish interiors not only cost more to buy, they cost more to repair and insure. Worse, if you drive one of these luxury vehicles and are in an accident where the car is totaled, you’ll end up paying for it.
- Electric vehicles – Electric vehicles are a relatively new entity on California roads. As such, the technology behind them is still developing, which can lead to unforeseen dangers that aren’t present in normal, gasoline-powered vehicles. Anytime electricity is involved as a power source, fires and shorts are a possibility. When that happens on a busy road while driving, you can imagine how your insurance company would view that accident.
- SUVs – Although Sport Utility Vehicles (SUVs) are larger and offer more protection from a collision, they are also more difficult to control in inclement weather or in the event of an accident. Not only that, but since they are made to carry more passengers, it also carries the risk of them being injured as well. All of these factors go into an insurance company’s calculation of your rate should you drive one of these vehicles.
- Motorcycles – Motorcycles offer the rider an unparalleled experience, especially in California. But they also don’t protect you as much in the event of an accident. Because of their design, they move at much higher speeds but offer virtually no protection in a collision with a larger car. Also, they are much more difficult to control than a normal car. As such, insurance companies routinely not only charge more to insure these vehicles but offer a completely different policy for them.
Understanding these various factors can help you make a more informed decision regarding your insurance coverage. While the make, model, and year your car was built all factor into your insurance rate, the color of your car on its own won’t. However, driving one of the above vehicles–no matter what color it is–can bring a higher cost of insurance.
Maison Law Provides Support and Strong Representation in California
When you are in a car accident, your insurance company is going to get involved. Moreover, California has specific requirements for auto coverage, including minimum amounts that you have to carry. So, there are a number of different factors that go into how your insurance rate is calculated, and simply dealing with an insurance company is a difficult prospect.
That’s where our experienced team of California car accident lawyers at Maison Law can help. We can handle all of the day-to-day responsibilities of your claim and will deal directly with the insurance company on your behalf to make sure you get the support you need to recover from any injuries.
To learn more about how we can help you, contact us today for a free consultation.
