Does the Colour of Your Car Affect Your Insurance Rates?

Have you ever heard the urban legend that owning a red car will cost you more in insurance premiums? It's a common belief that has circulated for years, but the truth is that the colour of your car has no impact on your insurance rates.

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The myth likely originated from the idea that flashy or high-profile colours might attract more attention, including the attention of law enforcement. However, insurance companies base their rates on more concrete and statistically-backed factors.

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Key Factors in Car Insurance Rates:

Driver's History and Profile: Your driving record, including any past accidents or violations, plays a significant role. Safer driving histories are rewarded with lower premiums.

Type of Coverage and Deductibles: The level of coverage you choose and the deductibles you opt for impact your insurance costs. Comprehensive coverage will cost more than basic liability coverage.

Make and Model of the Car: The make, model, and year of your car are crucial factors. High-performance or luxury vehicles generally have higher insurance rates due to their repair and replacement costs.

So, the next time someone suggests that red cars are more expensive to insure, you can confidently debunk the myth. Insurance rates in Manitoba are determined by a range of factors that prioritize fairness and accuracy. If you have questions about your specific situation, contact us at Kilgour Bell Insurance - we can provide personalized insights and guidance!

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