Any ship hailing from Coruscant would be painted entirely red others would only have stripes.
During the Clone Wars, these cruisers were painted the same colors as Republic attack cruisers.
Red was the color of ambassadorial relations and neutrality for capital ships of the Republic and had been so for many centuries. Craft of the Consular class in diplomatic service were painted red to declare their diplomatic immunity and to also serve as a warning not to attack. Civilian models of the Consular-class cruiser were used for straight-forward transportation and were indistinct. The Consular-class space cruiser was a starship designed and manufactured by the Corellian Engineering Corporation and used by the Galactic Republic to transport Jedi and diplomats to troubled spots across the galaxy.