Red cars do not cost more to insure. When you get a quote from an insurance provider, they're most likely not going to ask about the color of your vehicle.

There is one exception to this rule. If your vehicle has a

custom paint job

, it will affect your insurance premium—but not by much. This is because of the higher repair costs that would come with repainting the vehicle in the event of an accident.

Now, if it doesn't cost more to insure a red car, why do so many people buy in to the myth?

The age-old assumption is that drivers of red cars are riskier drivers, may have more tickets and claims, and therefore, have to pay more for insurance.

Some people also think that police officers are more likely to pull over drivers with red cars since it's assumed they're riskier drivers.

These rumors are simply not true. The fact is, regardless of your vehicle’s color, you will have to pay more for insurance with claims or

driver violations on your record

. But your insurance company won't assume that you're going to be a risky driver based on your car color and give you higher premiums before you've even gotten a ticket.

MORE:

11 car insurance hacks to save you money

Key Takeaway Unless you have a custom paint job, car color does not affect insurance rates.

What factors really impact insurance rates?

While factors like your driving record, address, and gender will impact your insurance rates, color doesn’t make the list. So feel free to buy that fiery red car!

Here are some factors that actually could lead to a higher insurance premium:

Driving record

clean driving record

means cheaper premiums. The fewer accidents and claims that you have, the cheaper your insurance. Insurance companies will look at how costly it will be to insure you as a driver. If you have more claims, car insurance companies consider you higher-risk and your auto premiums will go up.

Where you live

Someone living in an urban area will pay more than someone living in a rural or suburban area.

Urban areas, in comparison to the suburbs or the country, have higher rates due to traffic congestion,

car theft rates

, and vandalism.

The cost of car care, the number of insurance fraud cases, and even the weather in your area are also major factors.

MORE:

What are the states with the cheapest car insurance?

Credit history (in some states)

Your

credit score helps insurance companies

determine if you are a risk to insure. In most states, insurance companies will use a credit-based insurance score to determine your premium and predict insurance losses.

Your payment history, length of credit, and types of credit will all have an impact on your credit-based score and, ultimately, your premium.

California

, Hawaii,

Maryland

, Massachusetts,

Michigan

, Oregon, and Utah have stricter rules surrounding insurance companies using credit-based data and insurance scores for premiums. Some of these states even ban the use of credit data entirely.

Age and gender

Drivers under 25 generally pay more than drivers 30 and over. Statistically, young drivers are more at risk for being in an accident.

Data has also shown that men are considered higher-risk drivers than women. Premiums tend to be higher for men.

MORE: How to get cheap car insurance for young drivers

Car type

Your car model could potentially affect your premiums by hundreds of dollars. Luxury cars and SUVs are generally more expensive to insure because of high repair costs. Your car’s theft rate, safety rating, and repair costs also factor into your premium.

Your occupation and education level

People that have a higher level of education tend to get in fewer accidents, which could potentially be reflected in lower insurance premiums. Certain occupations may also qualify for

car insurance discounts

, like nurse discounts or teacher discounts.

Marital status

Statistically, married drivers get into fewer accidents than single drivers. So if you’ve tied the knot, you may qualify for a lower insurance premium. However, the driving record of both spouses is key to determining if the combined premium will be cheaper or not.

MORE:

The top 10 cheapest cars to insure

Key Takeaway Factors like driving record, your location, credit history, and more impact your car insurance rates.

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