Question I’ve heard that car insurance rates are influenced by things like color and body style. Can you separate fact from fiction here?
Marcus Troup, a Farmers Insurance® agent in Springfield, Missouri, explains what matters about your vehicle — and what doesn’t.
Answer The notion that your car’s color affects your rates is a myth. It’s true that some vehicles are more expensive to insure than others, but any difference is based on hard data
For example, we know 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 issues we look at it.
The trim level of a particular model also counts. 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.
You may have heard that your rates will go down as your car ages. That’s not necessarily the case. 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 morph into slowpokes at a certain point. What’s more, older cars lack the latest accident-avoidance technology.
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