Nobody loves paying for car insurance, particularly when the price is too high.
Sadly, most drivers in Colorado kept their policy with the same company for at least the last four years, and just under half have never compared rates from other carriers. U.S. insurance shoppers could save almost $859 each year, but they mistakenly think it's difficult to go online and compare rates.
Steps to finding affordable quotes for Tesla Model S insurance in Colorado Springs
Truthfully, the best way to find more affordable Tesla Model S insurance in Colorado Springs is to do an annual price comparison from different companies that sell auto insurance in Colorado. You can compare prices by completing these steps.
- Step 1: Spend some time learning about how auto insurance works and the measures you can take to prevent high rates. Many things that cause rate increases like multiple speeding tickets and a poor credit rating can be improved by making minor changes in your lifestyle.
- Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive and State Farm, while agents who are independent can quote rates for a wide range of companies.
- Step 3: Compare the new rate quotes to your current policy and determine if there is any savings. If you can save money and switch companies, ensure there is no coverage lapse between policies.
- Step 4: Provide proper notification to your current company to cancel your current policy and submit the completed application along with a down payment for the new policy. When you receive it, store the certificate of insurance in an easily accessible location in your vehicle.
A tip to remember is to make sure you're comparing similar deductibles and liability limits on each quote request and and to get prices from as many auto insurance providers as possible. This guarantees an apples-to-apples comparison and a complete price analysis.
Companies like Allstate, Progressive and GEICO increase brand awareness with ad campaigns and it is difficult to sift through the bull and do the work needed to find the best deal.
It's a good habit to price shop coverage as often as possible because car insurance prices are constantly changing. Just because you found the best price on Tesla Model S insurance in Colorado Springs two years ago there may be better deals available now. You can find a lot of wrong information about Model S insurance on the internet, but by reading this article, you're going to learn the easiest ways to quit paying high car insurance rates in Colorado Springs.
If you have coverage now, you will most likely be able to get lower rates using the following tips. Finding the cheapest insurance coverage in Colorado Springs is not that difficult. Although Colorado consumers must learn how insurance companies determine prices because it can help you find the best coverage.
Buy More Affordable Insurance with These Tips
One of the most helpful ways to save on insurance is to to have a grasp of some of the things that aid in calculating your insurance rates. If you know what positively or negatively impacts your premiums, this helps enable you to make changes that can help you get big savings. Many factors are considered when premium rates are determined. Some factors are common sense like a motor vehicle report, but other factors are less obvious like where you live or your commute time.
Shown below are some of the most rate-impacting factors companies use to determine your premiums.
- Annual mileage impacts costs - The higher the miles on your Tesla each year the more it will cost to insure it. The majority of insurers calculate rates determined by how the vehicle is used. Cars and trucks not used for work or commuting qualify for better rates than those that get driven frequently. Having the wrong rating on your Model S is throwing money out the window. Double check that your vehicle rating properly reflects the correct driver usage.
- Teen drivers pay higher costs - Teenage drivers in Colorado tend to be careless and easily distracted when behind the wheel so insurance rates are higher. Adding a inexperienced driver to your policy can cause a big jump in price. Older people are viewed as being more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets.
- Lower rates with continuous insurance coverage - Driving with no insurance is a big no-no and as a result your rates will increase for letting your insurance coverage expire. Not only will rates go up, being ticketed for driving with no insurance may earn you fines and jail time. You may have to submit proof of financial responsibility or a SR-22 with the Colorado motor vehicle department.
- Pay more by driving carelessly - Whether or not you get tickets has a huge affect on how much you pay. Only having one citation could increase your next policy renewal by as much as thirty percent. Attentive drivers have lower premiums compared to drivers with tickets. People who have multiple citations like reckless driving, hit and run or driving under the influence may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to legally drive.
- Insurance companies don't like frequent insurance claims - If you are the type of insured that files lots of claims you should expect either higher rates or even cancellation. Car insurance companies in Colorado provide discounts to drivers who file claims infrequently. Your car insurance is designed for claims that you cannot pay yourself.
- Liability insurance - A critical coverage on your policy, liability insurance provides coverage when you are found to be at fault for damages from an accident. Liability provides for a legal defense which can be incredibly expensive. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should make sure they buy enough to cover all assets.
- Is your vehicle theft-ready? - Buying a car with advanced anti-theft systems can help bring down rates. Advanced theft deterrents like GM's OnStar, tamper alarm systems and vehicle immobilizers all help prevent auto theft.
Loss probability for a Tesla Model S - Auto insurance companies factor in insurance loss information when they set coverage costs for each model. Models that the statistics show to have higher claim amounts or frequency will have higher premium rates. The data below shows the historical loss data for Tesla Model S vehicles.
For each type of coverage, the claim amount for all vehicles, regardless of make, model or trim level, is a value of 100. Percentages below 100 are indicative of better than average losses, while values that are above 100 point to more losses or tendency to have higher losses.
Insurance Loss Ratings for Tesla Model S Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Tesla Model S 4dr Electric 2WD 324 116 208 39 46 104 Tesla Model S 4dr Electric 4WD 333BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Best auto insurance in Colorado Springs
Insuring your vehicle with the right auto insurance provider can be rather challenging considering how many companies provide coverage in Colorado. The rank data in the lists below could help you choose which insurers to look at comparing rate quotes with.
Top 10 Colorado Springs Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Persistence is the key to affordable rates
Cheaper auto insurance in Colorado Springs can be purchased from both online companies in addition to many Colorado Springs insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some companies may not have online price quotes and usually these small insurance companies work with local independent agents.
When buying insurance coverage, you should never reduce needed coverages to save money. There have been many cases where an insured dropped full coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your goal should be to find the BEST coverage at the lowest possible cost.
Steps to buying low-cost Tesla Model S insurance in Colorado Springs
If your goal is the lowest price, then the best way to find cheaper Tesla Model S insurance in Colorado Springs is to regularly compare prices from different companies who provide auto insurance in Colorado. Prices can be compared by completing these steps.
- Step 1: Gain an understanding of the coverage provided by your policy and the changes you can make to keep rates down. Many risk factors that result in higher prices like at-fault accidents, careless driving, and an unacceptable credit rating can be controlled by improving your driving habits or financial responsibility.
- Step 2: Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like Progressive or State Farm, while independent agencies can give you price quotes for a wide range of companies.
- Step 3: Compare the price quotes to your existing policy and determine if cheaper Model S coverage is available in Colorado Springs. If you find a lower rate and change companies, make sure there is no lapse in coverage.
- Step 4: Notify your company or agent to cancel your current auto insurance policy and submit payment and a signed application to your new carrier. Immediately keep your new proof of insurance certificate along with the vehicle's registration papers.
One thing to remember is to use the same amount of coverage on each quote and and to get rate quotes from every insurance company. This enables a fair rate comparison and a complete price analysis.
To learn more, feel free to visit the resources below:
- What is Full Coverage? (Allstate)
- Who Has the Cheapest Auto Insurance Quotes for a Ford Fusion in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance Quotes for a Honda Civic? (FAQ)
- What Insurance is Cheapest with Multiple Speeding Tickets in Colorado Springs? (FAQ)
- Who Has the Cheapest Colorado Springs Car Insurance Rates for a Ford Explorer? (FAQ)
- How Much is Colorado Springs Car Insurance for a Toyota 4Runner? (FAQ)
- A Tree Fell on Your Car: Now What? (Allstate)
- Liability Insurance Coverage (Nationwide)