Are you kicking yourself for buying high-priced auto insurance? It's a common feeling and many Colorado Springs drivers have buyer's remorse.
Amazlingly, a recent NerdWallet.com study showed that nearly 70% of customers have purchased from the same company for at least four years, and just short of a majority have never compared rates with other companies. Drivers in Colorado could save as much as 35% a year by just comparing quotes, but they underestimate how much savings they would realize if they switched.
Having so many companies to choose from , it can be impossible to pick the lowest price auto insurance company.
Smart consumers take time to price shop coverage periodically because insurance prices are usually higher with each renewal. Despite the fact that you may have had the best deal on auto insurance a year ago you will most likely find a better premium rate today. You'll find quite a bit of inaccurate information about auto insurance on the internet, but you can learn some good information on how to stop overpaying for insurance in Colorado Springs.
Auto insurance companies in Colorado Springs
The companies in the list below provide price quotes in Colorado. If multiple companies are shown, we recommend you visit several of them to find the most affordable auto insurance rates.
Don't neglect these discounts on insurance
Insurance is neither fun to buy or cheap, but you may qualify for discounts that could drop your premiums quite a bit. Certain reductions will be credited at the time of quoting, but some need to be asked about before they will apply. If you aren't receiving every discount you qualify for, you are not getting the best rate possible.
- Home Ownership Discount - Just owning your own home can earn you a little savings because of the fact that having a home shows financial diligence.
- Accident Free - Drivers with accident-free driving histories pay much less when compared to accident-prone drivers.
- Defensive Driver Discount - Participating in a defensive driving course can save you 5% or more if your company offers it.
- Include Life Insurance and Save - Larger insurance companies have a small discount if you purchase some life insurance too.
- Distant Student - Youth drivers who live away from home at college without a vehicle on campus could get you a discount.
- Renewal Discounts - A few insurance companies allow discounts for switching to them before your current expiration date. It could save around 10% when you buy Colorado Springs auto insurance online.
- Bundle and Save - If you can combine your auto and homeowners policy with one insurance company you will save at least 10 to 15 percent or more.
Discounts reduce rates, but you should keep in mind that many deductions do not apply to the entire policy premium. Some only apply to specific coverage prices like collision or personal injury protection. So even though they make it sound like you can get free auto insurance, that's just not realistic. But all discounts will bring down the amount you have to pay.
To locate insurers with the best insurance discounts in Colorado Springs in Colorado, click here to view.
Make good decisions and reduce your rates
Many things are part of the calculation when you get your auto insurance bill. A few of the factors are predictable like a motor vehicle report, but other criteria are less obvious such as your credit history or your vehicle rating.
The list below includes a partial list of the pieces utilized by car insurance companies to help set prices.
Extra policy coverages could be costing you - There are many extra add-on coverages that you can get tricked into buying but may not be useful. Coverage for things like vanishing deductibles, towing, and additional equipment coverage are some examples. They may seem good when buying your policy, but now you might not need them so remove them from your policy.
Stay claim-free and save - If you are a frequent claim filer, you can pretty much guarantee higher rates. Companies in Colorado award the lowest premiums to people who are not frequent claim filers. Insurance coverage is intended to be relied upon for claims that pose a financial burden.
Avoid traffic tickets - Just one chargable violation can bump up the cost substantially. Attentive drivers tend to pay less for car insurance than bad drivers. Drivers who have received dangerous violations like reckless driving, hit and run or driving under the influence may need to submit a SR-22 form with their state in order to continue driving.
Bundle policies and save - Most larger insurance companies will give discounts to insureds who buy several policies from them, otherwise known as a multi-policy discount. Even if you're getting this discount it's always a smart idea to comparison shop to help guarantee you have the best rates. It's possible to still save even more than the discount by buying insurance from more than one company.
Always remember that when buying the best auto insurance coverage, there really is no one size fits all plan. Your needs are unique to you.
These are some specific questions may help you determine if your situation will benefit from professional help.
- What vehicles should carry emergency assistance coverage?
- Does my medical payments coverage pay my health insurance deductible?
- Should I file a claim if it's only slightly more than my deductible?
- Am I covered if I hit a deer?
- Does coverage follow the driver or the vehicle?
- Am I covered when using my vehicle for business?
- Is there a penalty for late payment?
- What is the premium to book value ratio for dropping full coverage?
- What is covered by UM/UIM coverage?
If you're not sure about those questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, fill out this quick form.
When should I talk to an insurance agent?
Some consumers would rather buy from a licensed agent and that is a personal choice. One of the benefits of comparing insurance prices online is you may find better rates and also buy local. Buying from neighborhood insurance agencies is definitely important in Colorado Springs.
To make it easy to find an agent, after completing this form (opens in new window), your insurance coverage information is emailed to companies in Colorado Springs that provide free Colorado Springs auto insurance quotes for your business. It simplifies rate comparisons since you won't have to find an agent on your own due to the fact that quote results will go to you directly. It's the lowest rates AND a local agent. If you want to get a comparison quote from one company in particular, just search and find their rate quote page and submit a quote form there.
Listed below are agents in Colorado Springs that can give you price quote information.
Choosing a insurer shouldn't rely on just the quoted price. The questions below may impact your decision as well.
- Do they see any coverage gaps in your plan?
- Does their agency support local causes in Colorado Springs?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- What insurance companies do they work with in Colorado Springs?
- Can you contact them at any time?
- Do they prorate repair cost based on vehicle mileage?
- How long have they worked with personal auto insurance coverage?
Insurance advertising gotchas
Well-known insurance companies like GEICO, State Farm and Progressive endlessly run ads on television and other media. They all advertise the message that people will save if you change to them. How does every company sell you cheaper insurance coverage? It's all in the numbers.
Insurance companies give the cheapest rates for the type of driver that will be a good risk. One example of a profitable insured could possibly be between 25 and 40, has never had a claim, and drives newer vehicles. Anybody who fits those characteristics will get a cheap rate quote in Colorado Springs and as a result will probably save quite a bit of money when switching.
Potential insureds who cannot meet the requirements will see a higher rate and this can result in the customer buying from a different company. The trick companies use is to say "drivers that switch" but not "all drivers who get quotes" can get the lowest rates when switching. That is how insurance companies can lure you into getting a quote.
Because of this risk profiling, you need to get price quotes at each policy renewal. It's just too difficult to predict which company will have the lowest insurance in Colorado Springs.
You can find cheap coverage
Some companies don't offer price quotes online and most of the time these smaller companies prefer to sell through local independent agents. The cheapest car insurance in Colorado Springs is attainable online and from local insurance agents, so compare prices from both in order to have the best price selection to choose from.
Drivers switch companies for any number of reasons including an unsatisfactory settlement offer, not issuing a premium refund, extreme rates for teen drivers or delays in responding to claim requests. It doesn't matter what your reason, finding a great new company can be easy and end up saving you some money.
In this article, we presented a lot of tips how to get a better price on car insurance in Colorado Springs. It's most important to understand that the more companies you get prices for, the higher the chance of saving money. Consumers may even find the best premium rates are with some of the smallest insurance companies.
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