If you drive a silver, red or grey coloured car, it might be the reason why your insurance premium is a little on the expensive side.
If you’re deciding on a new car you might want to spend a little more time choosing the right colour.
We’ve all heard that white and black cars get dirty “faster”, usually because it’s more noticeable on these colours and not so much the speed factor.
Darker coloured cars also tend to get hotter because they absorb heat from the sun at a faster rate.
However, the main reason why the colour of your car matters is because insurance companies tend to favour some colours more than others and will charge a higher premium colours such as red, pearlescent shades and metallic finishes.
Among other reasons — some truly bizarre — here’s what to consider before choosing your favourite colour for your car.
Why does the colour of your car affect your insurance premium?
There are a lot of factors that can affect your insurance premium. From age, gender, driving history and experience, claims history, where you live, size of the engine and how often you drive.
The one you’d least expect is the actual colour of your vehicle. This is because some types of paints are more expensive to replace, in particular pearlescent and metallic shades.
It can also affect the overall price you pay at the dealership if you are opting for a more exclusive paint job as it is generally more costly to repaint scratches and damages.
On top of expensive repair jobs, research conducted by Monash University found there was a relationship between vehicle colour and crash risk.
For those who drive grey or silver cars, you are 10% more likely to get into a crash than someone who was driving in a green car sitting at 4% when compared to white. Surprisingly, the colour least likely to get into a car accident when compared to white, was orange, with as low as 1% likely to crash.
The safest colours were variations of orange, including yellows, cream and mauve, then green, followed by burgundy, and blue.
Tips to help you save money on your premiums
While there are certain factors out of your control that add to your premium, including age, driver’s and claims history, and gender there are some ways you can potentially reduce your premium.
Park your car in a secure area. If you live in a suburb with a high accident rate, theft or vandalism you will generally pay more for insurance. Keeping your car secured in the garage, off the street and protected under cover from storms may lower your premium.
Consider increasing your excess. By opting to pay a higher excess, your insurer will generally offer you a lower premium as a result. However, you’ll need to consider what this means financially if you do get into an accident.
Shop around for the best deal. Like any other type of insurance, there’s always going to be a better deal. It pays to shop around and see where you can save.
Restrict the age of drivers on your policy. The moment anyone under the age of 25 is listed on your policy the premium skyrockets.
Pay annually. Insurers offer better pricing for those who pay the full premium at any time. Month-to-month payments generally attract surcharges.
Have your car regularly serviced. Getting your vehicle regularly serviced by your mechanic maintains the condition of your car and allows for detection of any issues in the early stages. Your insurer may not cover you for any mechanical faults resulting from neglect or old age. This also extends to maintaining the integrity of your windscreen and making sure there are no cracks or chips.
The dangers of driving with damaged windscreen
Driving with a cracked or chipped windscreen compromises the safety of your vehicle and weakens the overall structural integrity of the vehicle.
A damaged windscreen is less likely to provide adequate protection from random projectiles or major accidents as it has more chances of shattering upon impact.
Insurers may not cover you if they deem the damages sustained on your windscreen had been neglected or of old age.
Depending on the type of cover you have, some policies include free windscreen replacements, so it pays to speak to a professional if you have a cracked or chipped windscreen.