Last Updated March 2026
- No, red cars don’t cost more to insure. Vehicle color doesn’t affect how much you pay for car insurance.
- Your car’s make, model and trim level matter more. Insurers look at loss data tied to specific vehicles, including safety records and repair costs.
- Performance, size and features can impact rates. Sports cars, luxury vehicles, larger SUVs and models with higher theft rates may cost more to insure.
- An agent can help you explore cost-saving strategies, such as bundling policies, insuring multiple vehicles or reviewing coverage options and discounts.
The short answer is no. The notion that your car’s color affects your rates is a myth. But it is true that some vehicles are more expensive to insure than others — and that’s because hard data shows that they’re more at risk for losses.
For example, data shows that a full-size pickup truck is more likely to cause more damage than a compact car when it hits something. A rollover accident can have more serious consequences when you’re driving a soft-top convertible. High-performance cars are more likely to be involved in speed-related accidents.
These are the kinds of issues insurers look at when they track losses by make and model and set rates accordingly. The Insurance Institute for Highway Safety and the Highway Loss Data Institute maintain a joint website where you can check such statistics.
What vehicle characteristics affect the cost of my car insurance premiums?
The make and model of the car you drive are factors that can impact your premium. The trim level of a particular model could also count. The standard version of your car might be relatively cheap to insure. But that could change if you get the optional engine and sport suspension.
Also taken into account are your car’s body type, engine size, sticker price, average repair costs, overall safety record and risk of being stolen, according to the Insurance Information Institute.
Sports cars, luxury vehicles and electric vehicles are more expensive to insure, because their expensive components generally cost more to replace or repair. They’re also more likely to be stolen.
You may have heard that your rates will go down as your car ages, but that’s not necessarily true. As your car ages, premiums for collision and comprehensive coverage may decline because the vehicle’s value drops. But liability coverage is tied mainly to the driver and accident risk, so the rate you pay is less likely to change based on the age of the vehicle. For example, a large SUV that’s been on the road for years can do the same amount of damage as a new one. Performance cars don’t necessarily morph into slowpokes at a certain point. What’s more, older cars may lack the latest accident-avoidance technology.
When you’re thinking about buying a new car, you can use the insurance industry’s data to help guide your choice — for safety as well as for potential car insurance savings. A Farmers agent can also help you explore cost-saving strategies like bundling your home and auto policies and insuring more than one vehicle.
The information contained in this page is provided for general informational purposes only. The information is provided by Farmers® and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to this article or the information, products, services or related graphics, if any, contained in this article for any purpose. The information is not meant as professional or expert advice, and any reliance you place on such information is therefore strictly at your own risk.
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