How does the color of my car affect my rate?

September 14, 2017 by Tammy Hull

While many things about the vehicle you drive affect the price, color ISN'T one of them. Feel free to buy that Candy Apple Red Vette after all. Vehicles are rated on actual loss data not MSRP or color. We touched on the CLEAR rating tables during a separate post outlining every time any vehicle is involved in a claim the data is tracked. The higher the claim cost for a particular vehicle. the higher the insurance rate to expect.

Other considerations when seeking out car insurance: Keep a good driving record as this too plays a large role in the rate you will pay. Accidents and convictions stay on your record for several years so keeping them to a minimum or not at all, would be a great savings investment. 

Shop your insurance. There is no harm in seeking options and choice by reaching out to your current broker or BST Insurance to ensure you have the most competitive rate.
Consider increasing your deductibles and earn a discounted rate. Ask your broker.

Review your coverage to ensure you and your family are protected. Ask for Discounts and ensure you are taking advantage of all those which apply.
Ensure you have accident forgiveness whereby your first at fault claim is forgiven and your rate of premium is not impacted. 

If your vehicle is NEW, waiver of depreciation is by far a very valuable additional coverage option you should never be without. The moment you drive off the dealership lot, your vehicle depreciates. You can purchase waiver of depreciation for 2 – 5 years from some insurance companies to protect the value of your vehicle. In the event of a write off, your return will be that of what you paid for the vehicle.