Did you make the mistake of buying high-priced Cadillac SRX insurance in Colorado Springs? It’s quite common and there are many Colorado Springs drivers thinking the same thing.
Statistics show that the vast majority of drivers have been with the same company for at least the last four years, and almost half have never compared rates with other companies. Colorado Springs drivers can cut their rates by $600 a year, but they underestimate the big savings they would realize if they just switched companies.
Steps to buying cheaper Cadillac SRX insurance in Colorado Springs
The preferred way to get the cheapest car insurance rates in Colorado Springs is to regularly compare prices from insurance carriers who provide auto insurance in Colorado.
- Step 1: Spend a few minutes and learn about individual coverages and the factors you can control to drop your rates. Many things that drive up the price like speeding tickets, accidents and an imperfect credit score can be rectified by making minor changes to your lifestyle.
- Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from multiple insurance companies.
- Step 3: Compare the price quotes to the premium of your current policy to see if a cheaper price is available in Colorado Springs. If you can save some money and change companies, verify that coverage does not lapse between policies.
- Step 4: Notify your agent or company of your decision to cancel your current coverage. Submit payment and a completed application to your new carrier. Make sure you put the certificate of insurance in an easily accessible location in your vehicle.
A good tip to remember is that you’ll want to compare the same level of coverage on each quote and to quote with as many carriers as you can. This provides a level playing field and plenty of rates choose from.
Consumers have many auto insurance companies to buy insurance from, and even though it’s nice to have a choice, it can be more challenging to find the best rates for Cadillac SRX insurance in Colorado Springs.
The quickest way to compare car insurance company rates for Cadillac SRX insurance in Colorado Springs is to know almost all companies participate in online systems to provide you with free rate quotes. The one thing you need to do is take a few minutes to give details such as your credit rating estimate, how old drivers are, how you use your vehicles, and if you’re married. Those rating factors is instantly provided to multiple companies and you will get price comparisons very quickly.
If you wish to get multiple quotes for your Cadillac SRX now, click here and complete the quick form.
The auto insurance companies shown below are our best choices to provide price quotes in Colorado. To find cheap auto insurance in CO, we suggest you visit as many as you can to get a more complete price comparison.
Rates and other information
The rate information displayed below highlights estimates of insurance prices for Cadillac SRX models. Being able to understand how auto insurance policy rates are figured is important for drivers to make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|SRX Luxury 2WD||$148||$332||$338||$20||$100||$938||$78|
|SRX Luxury AWD||$148||$332||$338||$20||$100||$938||$78|
|SRX Performance 2WD||$164||$332||$338||$20||$100||$954||$80|
|SRX Performance AWD||$164||$332||$338||$20||$100||$954||$80|
|SRX Premium 2WD||$164||$332||$338||$20||$100||$954||$80|
|SRX Premium AWD||$164||$332||$338||$20||$100||$954||$80|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Price information does not factor in specific location information which can affect coverage rates greatly.
Accidents and violations increase rates
The information below demonstrates how speeding tickets and fender-benders can impact Cadillac SRX insurance prices for each different age group. The price estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.
Liability only or full coverage
The example below visualizes the comparison of Cadillac SRX car insurance costs with full coverage compared to only the Colorado minimum liability coverage. The premium estimates are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no other discounts are factored in.
Deciding between full coverage and liability only
There is no definitive rule for phasing out physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s say your Cadillac SRX claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after paying your deductible. If you are currently paying more than $300 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where only buying liability is not in your best interest. If you still owe a portion of the original loan, you have to keep full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.
Three reasons to insure your SRX
Despite the high cost, maintaining insurance may be mandatory for several reasons.
- Almost all states have mandatory liability insurance requirements which means state laws require specific minimum amounts of liability insurance in order to drive the car legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a lien on your Cadillac, almost every bank will force you to have comprehensive coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender may insure your Cadillac at a much higher rate and require you to pay for the expensive policy.
- Insurance safeguards not only your Cadillac SRX but also your assets. Insurance will pay for medical bills for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to repair the damage.
The benefits of buying car insurance are without a doubt worth the cost, especially when you need to use it. As of last year, the average driver in Colorado is currently overpaying as much as $750 every year so compare quotes from several companies at every renewal to ensure rates are competitive.
You Can Change Your Insurance Prices
The best way to find cheaper insurance is to take a look at some of the elements that play a part in calculating your insurance rates. When you understand what influences your rates, this allows you to make educated decisions that may result in lower rates. Lots of things are part of the equation when you quote your car insurance policy. Some are pretty understandable like your driving record, although some other factors are more transparent like your vehicle usage and annual miles driven.
Shown below are a few of the “ingredients” companies use to determine prices.
With age comes lower rates – Mature drivers are viewed as being more responsible, tend to cause fewer accidents, and get fewer tickets. Beginning drivers tend to be more careless when at the wheel of a vehicle therefore insurance rates are much higher.
The next chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.
Optional features that cut rates – Owning a car with advanced anti-theft systems can save you some money. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart vehicle theft.
Getting married can lower prices – Having a wife or husband can get you a discount on your insurance policy. It is viewed as being less irresponsible it has been statistically shown that drivers who are married file infrequent claims.
Insurance rates and driver gender – Over the last 50 years, statistics have shown that females take fewer risks when driving. Now that doesn’t mean men are worse drivers. They both are in accidents at about the same rate, but men get into accidents with more damage. Not only that, but men also get ticketed for serious violations like driving under the influence (DUI).
The chart below compares Cadillac SRX annual premium costs for male and female drivers. Data assumes a clean driving record, no claims, comp and collision included, $1,000 deductibles, single status, and no other discounts are factored in.
Lower rates for cars with good safety ratings – Cars with five star safety ratings tend to have lower insurance rates. Highly rated vehicles result in less severe injuries and better occupant protection translates directly to fewer claims which can mean better rates for you. If your Cadillac is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
Lower rates with a multi-policy discount – Some insurance companies provide better rates to buyers that have more than one policy such as combining an auto and homeowners policy. Discounts can amount to ten percent or more. Even if you’re getting this discount it’s still a good idea to shop around to guarantee you are still saving the most. Drivers may still save even more even if you have your coverage with different companies
Vocation can influence premiums – Occupations such as doctors, air traffic controllers, and stock brokers are shown to have the highest rates attributed to high stress and lengthy work days. Conversely, occupations such as scientists, students and the unemployed get better rates.
Affects performance affects auto insurance prices – The performance level of the car you need to insure makes a substantial difference in your car insurance bill. The cheapest insurance rates are generally reserved for smaller low performance passenger models, but the cost you end up paying is determined by many additional factors.
The following data uses these assumptions: married female driver age 50, full coverage with $500 deductibles, and no discounts or violations. It illustrates Cadillac SRX car insurance rates compared to other models that have a range of performance risks.
Cadillac SRX insurance claim data – Insurers use historical loss data when setting rates for each model. Models that the data shows to have higher claim frequency or loss amount will cost more for coverage. The information below illustrates the insurance loss data for Cadillac SRX vehicles.
For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, is a value of 100. Values that are 100 or less suggest a better than average loss history, while percentages above 100 indicate a higher chance of having a claim or statistically larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Cadillac SRX 4dr 2WD||103||101||84||80||82||91|
|Cadillac SRX 4dr 4WD||109||106||103||78||75||83|
Statistics from IIHS.org for 2013-2015 Model Years
These discounts can lower your auto insurance rates
Some companies don’t always publicize their entire list of discounts in an easy-to-find place, so the following list contains both well-publicized in addition to some of the lesser obvious credits available to you.
- Service Members Pay Less – Having a family member in the military could trigger a small discount.
- Discount for Passive Restraints – Cars that have air bags or motorized seat belts may earn rate discounts up to 30%.
- Discounts for Safe Drivers – Accident-free drivers could pay up to 40% less than their less cautious counterparts.
- Multi-line Discount – Not all companies offer life insurance, but some may give you a small discount if you purchase life insurance from them.
- Professional Memberships – Affiliation with a qualifying organization is a good way to get lower rates on your next auto insurance statement.
- Multiple Cars – Purchasing coverage when you have several vehicles with the same company can reduce the rates for all insured vehicles.
- Defensive Driver Discount – Successfully completing a course in defensive driving could possibly earn you a 5% discount if you qualify.
- Payment Discounts – If you pay your entire premium ahead of time rather than spreading payments over time you may reduce your total bill.
- Government Employees – Active or former government employment could qualify for a slight premium decrease with select insurance companies.
- Paperless Signup – Many auto insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on the internet.
One last thing about discounts, most credits do not apply to the entire cost. Most only apply to individual premiums such as liability, collision or medical payments. So even though they make it sound like it’s possible to get free car insurance, nobody gets a free ride.
The chart below shows the difference between Cadillac SRX car insurance costs with and without discounts applied to the policy rates. The premiums assume a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, homeowner, safe-driver, and marriage discounts applied.
If you would like to see a list of insurance companies who offer free Cadillac SRX insurance quotes in Colorado Springs, click here to view.
Tailor your car insurance coverage to you
When it comes to buying adequate coverage for your personal vehicles, there really is no one size fits all plan. Every situation is different so your insurance needs to address that.
Here are some questions about coverages that might help in determining if your insurance needs could use an agent’s help.
- How can I get the company to pay a claim?
- At what point should I drop full coverage?
- Should I bundle my homeowners policy with my auto?
- Should I file a claim if it’s only slightly more than my deductible?
- Am I covered while delivering pizza?
- Which is better, split liability limits or combined limits?
- Should I buy additional glass protection?
- Should I rate my Cadillac SRX as pleasure use or commute?
- Does rental coverage apply when I am renting a car?
- When should I remove my kid from my policy?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.
Compare rates but buy from a local neighborhood Colorado Springs car insurance agent
A lot of people prefer to talk to a local agent and that is not a bad decision Professional insurance agents will help you protect your assets and help you file claims. A nice benefit of comparing rates online is that you can find better rates and still buy from a local agent.
Upon completion of this simple form, your insurance coverage information is emailed to companies in Colorado Springs who will give you bids for your coverage. You never need to find an agent on your own since rate quotes are delivered straight to your inbox. If for some reason you want to get a rate quote from one company in particular, you just need to go to their quote page and fill out their quote form.
Finding the right insurer is decision based upon more than just a low price. Here are some questions to ask:
- Is vehicle damage repaired with OEM or aftermarket parts?
- What kind of financial rating does the company have?
- How experienced are they in personal risk management?
- How long has their agency been in business in Colorado Springs?
- Can you get a list of referrals?
- Is coverage determined by price?
- Do the agents have professional certifications like CPCU or CIC?
- How would your car be valued if totaled?
Two types of car insurance agents
If you prefer to buy insurance from a local insurance agency, you should know the different agency structures and how they differ in how they quote coverages. Insurance agencies in Colorado Springs can be described as either independent (non-exclusive) or exclusive. Either can insure your vehicles properly, but it’s worth learning the subtle differences since it may influence the selection process.
Exclusive Insurance Agencies
These type of agents can only write with one company and some examples include AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agencies are unable to provide rate quotes from other companies so they really need to provide good service. Exclusive agencies are very knowledgeable on what they offer and that allows them to sell at a higher price point.
Shown below are Colorado Springs exclusive insurance agents who can help you get rate quotes.
American Family Insurance – Michael Janzen Agency Inc.
1045 W Garden of the Gods Rd Ste M – Colorado Springs, CO 80907 – (719) 528-6387 – View Map
Independent Agencies or Brokers
Independent agents do not sell for just one brand and that allows them to write policies through lots of different companies and find the cheapest rate. If they find a cheaper price, an independent agent can move your coverage which makes it simple for you.
If you need cheaper insurance rates, it’s a good idea to compare prices from a couple of independent agencies so that you have a good selection of quotes to compare.
Below are independent insurance agencies in Colorado Springs that are able to give price quotes.
After talking to the agent and getting answers to your satisfaction for all questions you ask as well as a affordable price, you’ve probably found an insurance agent that is reliable enough to service your policy. Just be aware that you are entitled to cancel a policy when you choose so don’t feel that you are permanently stuck with any particular company with no way out.
Shop smart and save
We’ve covered a lot of ways to save on Cadillac SRX insurance in Colorado Springs. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. You may even discover the most savings is with a small local company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.
As you go through the steps to switch your coverage, it’s not a good idea to skimp on critical coverages to save a buck or two. There have been many cases where drivers have reduced liability coverage limits only to regret that the few dollars in savings costed them thousands. Your goal should be to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.
Steps to finding discount Cadillac SRX insurance in Colorado Springs
The best way to find cheaper quotes for auto insurance rates in Colorado Springs is to annually compare prices from companies who can sell car insurance in Colorado.
- Try to learn about how insurance companies determine prices and the steps you can take to prevent high rates. Many rating criteria that increase rates such as traffic violations, accidents, and a lousy credit rating can be improved by making minor driving habit or lifestyle changes.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO or Allstate, while agents who are independent can provide price quotes for a wide range of insurance providers.
- Compare the new rates to your existing policy to determine if you can save on SRX insurance in Colorado Springs. If you can save some money and decide to switch, make sure coverage is continuous and does not lapse.
- Provide notification to your current company to cancel your existing policy and submit the application along with any required down payment to the new company. As soon as you receive it, store the proof of insurance paperwork above your visor, in the console, or in the glove compartment.
An important note is to use the same physical damage deductibles and liability limits on each quote request and and to get rate quotes from as many different companies as possible. Doing this helps ensure a level playing field and a complete price analysis.
Additional learning opportunities
- Determining Auto Insurance Rates (GEICO)
- Who Has Affordable Colorado Springs Car Insurance for Felons? (FAQ)
- Who Has Affordable Colorado Springs Car Insurance Rates for Good Drivers? (FAQ)
- Who Has Cheap Car Insurance Quotes for Safe Drivers in Colorado Springs? (FAQ)
- Who Has Affordable Colorado Springs Auto Insurance for 17 Year Olds? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Liability Insurance Coverage (Nationwide)
- A Tree Fell on Your Car: Now What? (Allstate)
- Child Safety FAQ (iihs.org)