Are Red Cars More Dangerous?

You have probably heard the urban legend about how insurance rates are higher for red cars.  According to this line of thinking, red cars are more eye-catching, and therefore the people who drive them want to be seen.  The drivers of red cars are more likely to make risky driving moves, such as speeding, running red lights, and turning across multiple lanes of traffic.  It turns out that, even though insurance companies determine the cost of insurance premiums based on many factors, the color of the car is not one of them.  The insurance company will also not assign a greater share of fault to you just because your car is of a similar color to cherries and fire engines.  This does not mean, however, that the ways insurance companies determine fault for accidents is always fair.  If the insurance company is attributing too much fault for the accident to you and not offering a big enough settlement for your accident-related financial losses, contact a Columbia car accident lawyer.

The Driver Is a Greater Risk to Your Safety Than the Car

The chances that a driver will cause an accident affect the insurance premiums that the driver will pay.  Young, recently licensed drivers have the highest premiums, followed by experienced drivers who have caused accidents in the recent past.  The longer you drive without causing an accident, the less risky the insurance company considers you.

When you are a plaintiff in a car accident lawsuit, too, the driver’s driving record matters.  If there were no other witnesses, your statement that the driver was speeding when she hit your car is more credible if the driver has gotten speeding tickets in the past.

The Likelihood of an Accident Is Only One Factor That Influences Insurance Rates

How much fault the insurance company assigns you for an accident makes a difference for several reasons.  First, the insurance company will only reimburse you for a percentage of your accident-related financial losses equivalent to the percentage of fault that is not yours; if the accident was 30 percent your fault, the insurance company will reimburse you for 70 percent.  Second, the fact that you were at fault, or partially at fault, will affect your insurance premiums.  It is possible that your insurance rates are high for other reasons, too.  For example, if you live in an area with poorly maintained roads, your car is likely to need more repairs, despite your caution.  Expensive cars are also more expensive to insure, but not because they are more likely to be involved in accidents.  Rather, the insurance premiums on expensive cars cost more because these cars are more likely targets of vehicle theft.

Let Us Help You Today

The personal injury lawyers at the Stanley Law Group can help you if the insurance company has offered you an inadequate settlement for your car accident claim.  Contact The Stanley Law Group in Columbia, South Carolina or call (803)799-4700 for a free initial consultation.

Source:

bankrate.com/insurance/car/do-red-cars-cost-more-to-insure/#factors-that-are-used-to-determine-car-insurance-costs