Find Affordable Honda Element Insurance in Colorado Springs

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It takes a few minutes, but the best way to get cheaper auto insurance rates in Colorado Springs is to compare quotes once a year from providers in Colorado.

First, it will benefit you to learn about the coverage provided by your policy and the things you can change to prevent expensive coverage. Many factors that cause high rates like getting speeding tickets and poor credit history can be eliminated by being financially responsible and driving safely.

Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from a single company like Progressive or Farmers Insurance, while independent agents can give you price quotes from many different companies. Begin your rate comparison

Third, compare the new rates to your current policy to determine if you can save on Element insurance in Colorado Springs. If you find better rates, make sure there is no lapse between the expiration of your current policy and the new one.

Fourth, give notification to your current company to cancel your current car insurance policy and submit a down payment and signed policy application to your new company or agent. As soon as you receive it, put the certificate of insurance with the vehicle registration.

An essential thing to point out is to use similar deductibles and liability limits on every quote request and and to get rates from as many companies as you can. This ensures a level playing field and a complete price analysis.

Insurance for Honda ElementAstonishing but true, most drivers kept their coverage with the same car insurance company for over three years, and roughly 40% of drivers have never compared rate quotes at all. Most drivers in Colorado Springs could pocket as much as $600 a year by just comparing quotes, but they assume it's a waste of time to compare rate quotes.

If you already have coverage, you will definitely be able to save money using these tips. Locating the best rates in Colorado Springs is much easier if you have a good place to start. But Colorado car owners need to learn the way companies set your policy premium and use this information to your advantage.

Honda Element insurance rate analysis

The rate information below highlights different prices for Honda Element models. Learning more about how auto insurance prices are calculated can be of help when making decisions on the best policy to buy.

Honda Element Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $186 $354 $474 $28 $142 $1,184 $99
Element LX 4WD $186 $354 $474 $28 $142 $1,184 $99
Element EX 2WD $186 $354 $474 $28 $142 $1,184 $99
Element EX 4WD $186 $354 $474 $28 $142 $1,184 $99
Element SC 2WD $186 $354 $474 $28 $142 $1,184 $99
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Prices do not factor in vehicle garaging location which can modify coverage prices considerably.

Deductible comparison

The hardest decision when buying coverage is how high should your deductibles be. The comparison tables below may help you to understand the premium difference between low and high coverage deductibles. The first rate quote example uses a $250 deductible for comp and collision and the second data table uses a $1,000 deductible.

Honda Element insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $272 $458 $352 $20 $106 $1,233 $103
Element LX 4WD $272 $458 $352 $20 $106 $1,233 $103
Element EX 2WD $272 $458 $352 $20 $106 $1,233 $103
Element EX 4WD $272 $458 $352 $20 $106 $1,233 $103
Element SC 2WD $272 $458 $352 $20 $106 $1,233 $103
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Honda Element insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $168 $288 $352 $20 $106 $934 $78
Element LX 4WD $168 $288 $352 $20 $106 $934 $78
Element EX 2WD $168 $288 $352 $20 $106 $934 $78
Element EX 4WD $168 $288 $352 $20 $106 $934 $78
Element SC 2WD $168 $288 $352 $20 $106 $934 $78
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Premium costs do not factor in vehicle garaging location which can change premium rates considerably.

We can derive from the above data that using a $250 deductible will cost you about $25 more each month or $300 every year across all Honda Element models than choosing the higher $1,000 deductible. Because you would pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at least 30 months between claims, you would probably save some money by selecting a higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $103
Average monthly premium for $1,000 deductibles (subtract): - $78
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

The information below shows how different deductible levels and can change Honda Element premium costs for different age groups of insureds. Data assumes a married female driver, full physical damage coverage, and no discounts are applied.

Cut Insurance Costs with These Tips

Many factors are used in the calculation when you get a price on insurance. Most are fairly basic like your driving record, but others are not quite as obvious like your continuous coverage or your commute time.

  • Teenage drivers pay high rates - Older insureds are more cautious drivers, cause fewer claims and accidents, and tend to be get fewer driving tickets. Teenage drivers tend to be careless and easily distracted when driving therefore car insurance rates are much higher.

    The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.

  • Does auto insurance cost less for women? - Over time, data shows that women are safer drivers than men. However, this does not mean women are BETTER drivers than men. Males and females get in accidents at a similar rate, but guys tend to have higher claims. Not only are claims higher, but men receive more major tickets such as reckless driving.

    The diagram below illustrates the difference between Honda Element car insurance costs for male and female drivers. The data assumes no violations or claims, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

  • Better rates for being claim-free - If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Companies in Colorado generally give discounts to policyholders who do not rely on their insurance for small claims. Insurance coverage is intended for the large, substantial claims.
  • Bad drivers pay high rates - Good drivers tend to pay less for car insurance than their less careful counterparts. Having a single speeding ticket or other violation can increase rates substantially. Drivers who have severe violations like DUI or reckless driving might be required by their state to file a SR-22 to the state department of motor vehicles in order to continue driving.

    The diagram below illustrates how violations and accidents drive up Honda Element premium costs for each different age group. The premiums assume a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.

  • Vehicle risk impacts premiums - The performance of the car you are insuring makes a huge difference in the rate you pay. Smaller low performance passenger vehicles usually are quite affordable to insure, but the final cost of insurance is determined by many other factors.

    The chart below assumes a married male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The data compares Honda Element policy rates compared to other models that have different performance rating factors.

  • Deter vehicle theft - Buying a car with advanced anti-theft systems can earn a premium discount. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms all aid in stopping auto theft.
  • Lower physical damage deductibles cost more - Physical damage insurance, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some examples of claims that would be covered could be a broken windshield, damage caused by hail, and windstorm damage. Deductibles for physical damage define how much you are required to spend in the event of a claim. The more the insured has to pay upfront, the better rate you will receive.
  • Low mileage costs less - The higher the miles on your Honda annually the more it will cost to insure it. A lot of insurance companies rate vehicles based upon how you use the vehicle. Autos that have low annual miles receive lower rates compared to those used for work or business. Incorrect rating for your Element may be wasting your money. Make sure your car insurance coverage is showing the correct usage for each vehicle, because improper ratings can cost you money.

Affordable car insurance rates are out there

Cheaper Honda Element insurance in Colorado Springs can be found both online in addition to local insurance agencies, so you need to shop Colorado Springs car insurance with both to have the best selection. Some car insurance companies do not provide online quoting and usually these regional insurance providers work with independent agencies.

In this article, we covered many ways to get a better price on Honda Element insurance in Colorado Springs. The key concept to understand is the more providers you compare, the better your chances of lowering your premium rates. Consumers may even find the most savings is with some of the lesser-known companies. These smaller insurers often have lower premium rates on specific markets as compared to the big name companies such as Allstate or State Farm.

As you restructure your insurance plan, it's not a good idea to reduce coverage to reduce premium. In many cases, an insured dropped full coverage and learned later that it was a big error on their part. The ultimate goal is to find the BEST coverage at a price you can afford, not the least amount of coverage.

Much more information about car insurance in Colorado can be found at the links below