Buying cheaper coverage for a Chevrolet Traverse is normally pretty easy, but it is dependent upon a large number of rating criteria such as whether you are single or married, the likelihood of vehicle theft, and your policy deductibles. Drivers in Colorado pay around $937 a year for Traverse insurance, but that is an estimate using a 40-year-old married female driver with full coverage and $250 deductibles.
When estimating a car insurance rate like we just did, the issue is that you aren’t exactly 40 years old or even a female, you might be single instead of married, or maybe you just want liability only instead of full coverage. There is no perfect policy for every driver, so the best method for finding the cheapest insurance price for your Chevrolet is to do a thorough rate comparison.
The trim level of your Chevrolet impacts the cost of coverage, so the price you will be charged to insure a Traverse LS 2WD trim level will be $110 less than the cost to insure the more expensive Traverse LTZ AWD trim level, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Traverse LS 2WD||$234||$368||$314||$18||$94||$1,028||$86|
|Traverse LS AWD||$264||$368||$314||$18||$94||$1,058||$88|
|Traverse LT 2WD||$264||$368||$314||$18||$94||$1,058||$88|
|Traverse LT AWD||$264||$448||$314||$18||$94||$1,138||$95|
|Traverse LTZ 2WD||$264||$448||$314||$18||$94||$1,138||$95|
|Traverse LTZ AWD||$264||$448||$314||$18||$94||$1,138||$95|
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Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Price information does not factor in zip code location which can impact coverage rates significantly.
Locating low-priced insurance is not most people’s favorite thing to do, and deciding which company has the best car insurance rates for a Chevrolet Traverse requires even more diligence.
Every car insurance company uses a little different formula for setting prices, so let’s rank the overall cheapest car insurance companies in Colorado Springs, CO.
Find Cheaper Auto Insurance for Your Chevy
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford generally has some of the lowest car insurance rates in Colorado Springs at around $850 a year. This is $728 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also rank well as some of the best Colorado Springs, CO auto insurance companies.
As depicted above, if you buy coverage from GEICO and switched to Grange, you could realize an annual savings of about $174. Customers with Auto-Owners may save as much as $214 a year, and Travelers policyholders might realize rate reductions of up to $229 a year.
To get a fast rate comparison, click here to begin a quote or click through to the companies below.
It’s important to note that these premium estimates are averaged for all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for a Chevrolet Traverse. So the insurer that is best suited for you may not even be in the list above. That emphasizes why you need to compare prices as often as possible using your own personal information and vehicle type.
The chart below illustrates how your deductible choice can increase or decrease yearly insurance costs when researching cheap insurance for a Chevrolet Traverse. The premium estimates are based on a single female driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 50-year-old driver could cut expenses by $346 a year by increasing from a $100 deductible to a $500 deductible, or save $522 by selecting a $1,000 deductible. Youthful drivers, like the 20-year-old, could reduce their rates as much as $870 every year just by choosing higher deductibles.
If you do decide to increase your deductibles, it will be important to have emergency funds available to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Are you paying too much for car insurance?
Colorado Springs, CO car insurance rates are impacted by many things that may substantially change the price of coverage. Turning one year older, getting married, or getting a ticket for running a stop sign may generate price changes that can make some companies more affordable than competitors. In addition to those changes, companies change premium rates without warning to ensure their profitability. Significantly higher losses may cause more expensive prices, while profitable underwriting can result in cheaper Traverse insurance rates.
The chart below shows which companies have the cheapest car insurance in Colorado Springs, CO for a 40-year-old female driver with a clean driving record, no accidents, and good financial standing. If we estimate rates based on her current risk factors, The Hartford may have the best car insurance rates in Colorado Springs at $1,031 a year. This is $547 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Auto-Owners also make the list of the top five cheapest Colorado Springs, CO auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, a lower credit rating, and a traffic citation. Since each auto insurance company uses a different method for establishing rates, analyzing rate quotes most likely will result in a slightly different list of the cheapest car insurance companies in Colorado Springs as shown below.
GEICO now has the cheapest rate in Colorado Springs, CO with State Farm, Grange, American Family, and Progressive completing the list. This example illustrates why consumers need to compare many different companies to get the cheapest insurance rates for a Chevrolet Traverse. Rates consist of many different factors and change frequently, so the best price three years ago may now be quite expensive.
How to find economical car insurance for a Chevrolet Traverse
The list below shows some of the better money-saving ideas that can help drivers buy cheaper coverage.
- Full coverage is expensive so only insure older vehicles for liability only
- Good credit scores may make rates cheaper
- Accidents can significantly increase rates
- Buy your auto and home insurance from the same company and save
- Choose a safer vehicle and pay lower rates
- Compare rate quotes frequently
That last piece of advice is particularly important, as was affirmed in the prior information. Insurance prices adjust frequently, so don’t be tentative to change insurance companies if a better deal can be had.
Loyalty to a specific company is fine, but it’s not a great idea if that devotion results in you overpaying big bucks every year. Now is a great time to shop around to find cheaper auto insurance for a Chevrolet Traverse in Colorado Springs.
The insurance agencies below can answer your questions and help you decide which insurance coverage will be best for you, since some drivers have questions and prefer to have the advice of a professional agent when shopping around for cheaper insurance for a Traverse. It can be challenging to find coverage yourself, so insurance agents can add comfort knowing your coverage gives you suitable coverage if you ever need to use it. To locate a Colorado Springs auto insurance agent nearest to you, click the button below the list or click here to compare price quotes.
American Family Insurance – Dean Skaret Agency Inc.
2340 Academy Blvd N – Colorado Springs, CO 80909 – (719) 597-4330
Jensen Insurance Agency
125 N Parkside Dr #201f – Colorado Springs, CO 80909 – (719) 635-9557
Kelly Muse – State Farm Insurance Agent
1635 W Uintah St D – Colorado Springs, CO 80904 – (719) 329-1818