Unexpected price of your car’s colour: Car insurance revealed

It turns out that if Aussies pick these coloured cars, it’ll cost you more in insurance – and the reason will shock you.

Australian drivers are feeling the pinch with soaring insurance premiums making it one of the most hated bills to pay.

But one factor, like the colour of your car, could be driving up your insurance cost.

Research from Compare the Market has revealed that dark colours like black attract the highest rates.

According to the car insurance comparison service, insurers who adjust their pricing based on colour were found to increase premiums by as much as 8.72 per cent when a vehicle’s colour changed from white to black.

Compare the Market’s economic director David Koch said that certain colours can make a car more susceptible to theft or accidents.

“For example, darker-coloured cars may be harder to see at night or during storms, which could result in more crashes and potentially drive-up prices. In other instances, novelty colours, such as gold or even purple, may be more challenging to repair if the bodywork is damaged.” he said.

David Koch says car colour may be an important factor that people consider when they’re looking at their car insurance premiums.

“These findings are just a great insight into how differently insurers can calculate risk based on historical data, and it’s something to keep in mind when you’re looking at your car insurance renewal.”

Black is the most expensive car colour to insure followed by silver, grey, green, gold, brown and purple, all of which attract a premium of 7.89 per cent or more.

Koch advises motorists to weigh all factors when choosing their insurance policy.

“At the end of the day, car colour may be an important factor that people consider when they’re looking at their car insurance premiums, however in some cases, going with a brand that does have such ‘colour premiums’ may still come out cheaper than the policy they may be on.”

Originally published as Unexpected price of your car’s colour: Car insurance revealed