I have been hearing this for years, and many people still think this is true. I can assure you that the color of your car does not effect the price of your insurance. It should be obvious to anyone that knows me, because I am known to be tight with my money, and yet I have two red cars.
Just a few years ago most insurance companies still only looked at a stanadrd set of statistics and rated on factors such as age, sex, marital status, and driving history. While these are still used heavily, in today’s world of multivariant rating, insurance companies look at hundreds of variables to determine your rate including your credit. The color of your car has never been used in rating however. When you get a quote, or buy a new car your agent does not ask for the color, and there is no way for us to know the color. We do ask for a Vehicle Identification Number but that does not tell us the color of your car either. Furthermore, how easy would it be for people to cheat the system and paint their car?
Red cars account for about 13% of the cars on the road behind white, silver, and black respectively. According to some independent research grey or silver cars tend to be ticketed the most per capita, and white tends to be the least per capita. Red tends to be ticketed very close to the same percentage they represent of the total cars.
The bottom line is you will get ticketed for your driving not the color of your car. Yes getting a ticket can make your insurance go up, but once again it is because you were driving too fast, not because your car was red.